WHO THIS COURSE IS FOR
Accounting and Finance Professionals as well as students from ACCA, CIMA, CA, ICAEW,, CAT BBA, MBA and others studying Financial Accounting and Financial Reporting under IFRS
The course covers in details the principle for measurement and recognition of leases as prescribed by IFRS under IFRS 16. The course focuses on the concepts of Right of Use Assets, Lease liability - the lease and the service contract.
IFRS 16 is a relatively new standard which has replaced the old standard IAS 17 - Leases.
One of the main reasons of introducing IFRS 16 was to avoid "Off Balance Sheet Financing" which IAS 17 was unable to block.
After the introduction of IFRS 16 businesses are now obliged to bring back all the assets on to their statement of
financial position which previously were shown as operating leases and thus did not
appear as assets or liabilities on the SOFP.
It is a complete guide kit for those who want to learn the treatment of Revenue under IFRS 16. The course includes complete lecture video on standard as well as several questions, solutions and case studies.
A comparison between old standard IAS 17 and the new standard IFRS 16
Off balance sheet financing and the problems it caused in past and how IFRS 16 kills this.
Understand what was wrong with the old standard and how does IFRS 16 solves those issues
Measurement of Right of Use Asset and Lease Liability
Sale and lease back transactions.
Exemptions - Short period and small value leases
Remeasurement of lease liability
Lessor accounting for leases
Case studies to show the application of IFRS 16