IFRS 16 For Leases
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.
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.