IFRS 16 Leases / ASC 842
Are you ready to take your financial reporting to the next level? Attend the IFRS 16 Leases Workshop, where you will gain valuable insights on the most significant change to lease accounting in more than 30 years.
With the introduction of the IFRS 16 accounting standard, lease accounting for all companies that report under International Financial Reporting Standards (IFRS) has been impacted. This means that companies can no longer classify leases as operating or finance leases, as all leases now appear on the balance sheet. However, the exemptions for short-term leases without purchase options or low-value assets still apply. This change results in greater transparency and provides users of financial statements with more informed comparisons between companies in particular sectors. Financial statements will now more faithfully reflect economic reality, making it easier for investors to evaluate and compare companies.
Moreover, the implementation of IFRS 16 (ASC 842 under US GAAP) results in an increase in assets, liabilities, and net debt, which can affect key accounting and financial ratios, impacting a company’s attractiveness to investors and its ability to raise finance. By attending the IFRS 16 Leases Workshop, you will learn how to navigate these changes and optimize your financial reporting to improve your company’s financial position.
Don’t miss this opportunity to stay up-to-date on the latest lease accounting standards and take your financial reporting to the next level. Register now for the IFRS 16 Leases Workshop and gain a competitive advantage in your industry.
Key Learning Features
- Determining the suitable lease portfolios based on the IFRS 16 criteria
- Understanding what is considered an identified asset for lease purposes
- Identifying when the lessee has the right to control the use of an identified asset
- Determining the lease term, including renewal, termination, and purchase options, as well as rent-free periods
- Accounting for various types of lease payments, such as variable and fixed payments
- Reassessing the lease liability when there is a change in lease term or payment
- Accounting for lease incentives, initial direct costs, and dismantling costs
- Treatment of non-lease components in a lease contract
- Treatment of onerous leases under IFRS 16
- Applying the appropriate discount rate to calculate the lease liability, and understanding where to source the rates from.
Global IFRS 16 Training Schedule
Our program has been scheduled in multiple cities worldwide. For a comprehensive schedule and to find a program in your Country / City, please explore the following links. If you are interested in organizing this program in your city, we encourage you to contact us for collaboration opportunities and more information.
Online | London | Zurich | Miami | Toronto | Dubai | Singapore | Bermuda | Cape Town | Sydney | Lima | Doha | Rio De Janeiro
For More Information
Please contact our customer service team for more information about our IFRS 16 Program and to enroll. Our team is dedicated to providing you with excellent service and answering any questions you may have. We look forward to hearing from you and helping you take the next step in your professional development.
Instructor Bio
Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance ( ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets etc.)
This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.
Instructor for this course
Shasat Faculty
Our Partners
Our Partners in learning
Course Description
Module 1: Introduction to IFRS 16 Leases
- Objective and scope of the standard
- Recognition exemptions
- Identifying a lease
- Separating components of a contract
Module 2: Lease Terms and Definitions
- Key terms and definitions in the new standard
- Comparison with the old standard
- Short-term leases and leases of low-value items
Module 3: Measurement and Recognition of Lease Liability
- Interest rate implicit in the lease
- Impact on financial ratios
- Measuring lease liability
- Variable lease payments
Module 4: Accounting by Lessees
- Calculation of right-of-use asset and lease liability
- Amortization of right-of-use asset
- Lease modification and termination
Module 5: Accounting by Lessors
- Classification of leases by lessors
- Recognition and measurement of lease receivables
- Sale and leaseback transactions
Module 6: IFRS 16 vs. US GAAP
- Key differences between IFRS 16 and US GAAP
- Impact on multinational companies
Module 7: Disclosure Requirements
- Disclosure requirements under IFRS 16
- Examples of disclosures
Module 8: Effective Date and Transition
- Transition requirements under IFRS 16
- Practical implementation issues and considerations
Module 9: Case Studies and Examples
- Application of IFRS 16 to different industries and situations
- Real-world examples of lease contracts and their accounting treatment
This comprehensive course is designed to provide learners with a deep understanding of IFRS 16 Leases and its practical implications for financial reporting and analysis. The course includes a mix of theory, case studies, and practical examples to help learners build the knowledge and skills necessary to confidently apply the standard in their day-to-day work.
The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.
All rights reserved. ©2024, Shasat
Why you must attend?
Attention all financial professionals! The landscape of International Financial Reporting Standards (IFRS) is evolving and it’s important to stay up-to-date with the latest changes. The new lease accounting standard, IFRS 16, is now in effect and is set to fundamentally change the way lease transactions are accounted for, with significant implications for financial ratios. To help you navigate this complex standard and remain ahead of the curve, we have developed an online/In-person one-day workshop that provides in-depth insight into IFRS 16. This comprehensive walk-through will equip you with the knowledge and skills needed to accurately report useful information to users of financial statements.
With over 140 countries adopting IFRS as their accounting standards, it’s never been more crucial to develop your knowledge of IFRS 16. Whether you’re new to the standard or have already implemented it, investing your time in learning and staying updated is essential. Led by one of the best and most experienced faculties in the world, our IFRS 16 Workshop offers a highly interactive and practical learning experience in a classroom environment. With limited class sizes of maximum 10 participants, you’ll benefit from a personalized and immersive learning experience that maximizes interaction and ensures that learning outcomes are met.
Don’t miss out on this unique opportunity to develop your skills and knowledge in IFRS 16 and take your professional development to the next level. Register for our IFRS 16 Leases training course today and equip yourself with the knowledge and skills needed to tackle the challenges of this complex standard.
Teaching methodology
The training program will employ a comprehensive and engaging approach to learning, designed to deliver maximum impact and retention. The methodology includes:
- A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
- Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
- Explanations of concepts and methodologies through the use of examples and distinct scenarios, allow attendees to understand the material in context.
- Group exercises designed to illustrate accounting principles, encouraging collaboration and fostering a deeper understanding of the material.
- Discussions on IFRS vs US GAAP (ASC 842) differences, industry issues, and diversity in practices, provide attendees with a well-rounded understanding of the subject matter.
- Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
- An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.
The combination of these elements creates a dynamic and engaging learning experience that will support the professional development of all attendees.
Who should attend?
The IFRS 16 workshop is designed for a wide range of professionals, including:
- Accountants and finance professionals who use and produce financial statements under IFRS, and need to stay up to date with the latest developments in accounting standards and disclosure requirements
- Auditors who need to understand and apply the latest IFRS guidance to their audit work
- Market research analysts who require an understanding of how financial statements are prepared and presented under IFRS, in order to conduct effective financial analysis and valuation
- Professionals from rating agencies who use financial statements as a basis for credit ratings and need to keep up to date with the latest accounting standards and disclosure requirements
- Regulators who require an understanding of the latest accounting standards and disclosure requirements in order to develop and enforce effective financial reporting regulations
- Capital market watch experts who need to keep up to date with the latest developments in accounting standards and disclosure requirements in order to provide insights and recommendations to investors and other market participants.
No matter your profession, if you work in a field related to accounting, finance, or investment, the IFRS 16 Program can provide you with the knowledge and skills you need to stay ahead in today’s global reporting environment.
Feedback
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event.
We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.
We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.
Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.
Payment
Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.
We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.
Group discount
Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at info@shasat.com. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.
Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.
For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.
In-House Training
Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.
