European Institute of Management and Finance | IFRS Updates on Leases
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IFRS Updates on Leases

IFRS Updates on Leases

 

Leasing is an important financing activity for large corporate and financial institutions with the majority not reported on a balance sheet. That is because leases to date have been categorised as either ‘finance leases’ (which are reported on a balance sheet) or ‘operating leases’ (which are disclosed only in the Income statement and Notes to the financial statements).

 

This programme answers questions such as:

 

  • How must arrangements be analysed to determine whether they contain leases?
  • How are contracts separated into lease and service components?
  • How are leases accounted for in the financial statements of lessees?
  • How does IFRS and US GAAP differ?
  • What are the enhanced disclosure requirements?
  • What are the transitional provisions?
  • What are the practical implications for lessees, lessors and users of the new standards?

 

 

Programme Objectives

 

By the end of the programme, participants will be able to:

 

  • Comply with the new accounting and disclosure requirements for leases
  • Analyse contracts to determine whether they contain leases
  • Apply the rules for initial and subsequent measurement by lessors and lessees
  • Know the differences between IFRS and US GAAP
  • Plan for the implications of the new accounting standards for leases – what it means for you

 

 

Programme Outline

 

When does an agreement contain a lease?

 

Lessee accounting

  • Optional exemptions
  • Variable payments
  • Lease modifications
  • Presentation
  • Disclosure requirements

 

Lessor accounting

  • Lease modifications
  • Disclosure requirements

 

Sale-and-leaseback transactions (SALT)

 

Transitional provisions

 

Case Study Application

 

 

Training Style

 

  • Illustration of key terms and concepts
  • Preparation and discussion of practical examples, including mini cases
  • The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
  • Activities and Break-out groups

 

 

CPD Recognition

 

This programme may be approved for up to 4 CPD units in Accounting Standards. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

 

Professionals requiring CPD units to meet the education requirements for an occupational licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Accounting Standards, are advised to consider training subjects in categories that indicate CPD training in Accounting Standards.

 

 

Who Should Attend 

 

This course is primarily designed for those who are engaged in leasing activities in their company or are considering doing so in the future. The course will be beneficial to:

 

  • Treasury staff
  • Industry controllers
  • Accountants
  • Analysts
  • Internal and external auditors and
  • Other finance professionals who are interested in learning the impending changes to lease accounting