Mastering IFRS 16 Leases
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Course Details
- Introduction
- Objective
- Who should attend
IFRS 16 Leases sets a new standard for lease accounting, requiring companies to show lease liabilities and right-of-use assets directly on their balance sheets. This shift moves away from previous off-balance-sheet practices, bringing greater clarity and consistency to financial reporting. You will explore the core concepts of IFRS 16, including how to classify leases, understand exemptions, and apply models for both lessees and lessors. With practical insights, you will be well-prepared to navigate a variety of leasing situations with ease.
The IFRS 16 Leases course is ideal for finance professionals and offers essential insights and tools to manage the complexities of IFRS 16. Participants will learn how to identify lease contracts, allocate costs accurately, and comply with presentation and disclosure requirements, including sale-and-leaseback transactions (SLAT). Practical exercises, real case studies, and interactive discussions ensure that attendees leave with a well-rounded expertise in IFRS 16 application. By the course end, participants will be prepared to enhance their organization’s financial reporting accuracy and strengthen regulatory compliance, providing strategic value to their roles.
Course Outline
Introduction to IFRS 16 and Lease Classification
- Understanding the objectives and scope of IFRS 16 Leases
- Discussing the interaction of IFRS 16 with other standards
- Defining key concepts and terms related to lease
- Exploring types of leases: Finance leases vs. Operating leases
- Describing recognition exemptions: Short-term vs. Low-value asset exemptions
- Group Discussion: The impact of new lease accounting standards on lease treatment