This course considers the accounting requirements of IFRS 16 Leases, focussing particularly on the lessee accounting model.
IFRS 16 Leases radically changed the accounting for lease contracts by requiring lessees to recognise an asset and a liability for nearly all leases. This course aims to enable delegates to understand and apply the accounting and presentation requirements of IFRS 16 Leases.
It first considers the identification of lease arrangements, and then considers in detail, with examples, the detailed model set out for lessees.
On completion of this course, you will have a greater understanding of:
- How to identify contracts that are within the scope of IFRS 16 Leases
- How to prepare financial information in compliance with IFRS 16
- How to identify the information and systems required to properly apply the standard
- Identification of leases
- Separation of lease and non-lease components
- The lessee model
- Practical expedients
- Initial measurement
- Subsequent accounting
- Lease modifications
Authored by: Bruce Cowie, Head of Financial Reporting at BPP Professional Devlopment
Bruce Cowie is the Head of Financial Reporting Programmes at BPP Professional Development. He has been training full time in Financial Reporting topics since 1985, and has an expertise in IFRS, UK GAAP and US GAAP. He has trained across the world (e.g. USA, Europe, APAC, Australia, Argentina) for large multinationals, small and medium sized companies, accounting firms, professional bodies and Government entities, and still maintains a genuine love for his subjects. He has spent a considerable time in training firms for the transition to IFRS and to the new UK GAAP.
CPD Points: 1
CPD Duration (hours): 1
Access: 12 months from purchase date