IFRS 16 Leases Recording


IFRS 16 Leases impact has resulted in billions of additional assets and liabilities on the balance sheet of PLCs, with major impacts on some of the key accounting ratios, such as gearing and EBITDA, as well as substantial increases required in disclosure. This course will go into detail on the main aspects of the standard with live examples from Irish published financial statements and the FRC Thematic Review (Sept 2020).

Venue details:  
On Demand webinar, ,
Start date & time:  
09 March 2021 00:00
End date & time:  
09 March 2022 00:00
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
4.00 Training Tickets accepted
CPD hours:  
Speaker details
First nameLast name
Robert John Kirk


Product type:  
CPD online course
Chartered courses, Financial reporting

Booking Information

Once you have booked your course, the link to the recording will be available in your "My Account" area.

Please be aware that you will have access to this course for 180 days from the date of purchase

Who should attend

The course was recorded on 9 March 2021 and is particularly suitable for financial controllers and directors of PLCs who need to implement the new standard and understand its impact on their financial statements. As it will undoubtedly eventually also be incorporated into FRS 102, the course will provide an insight into the issues that accountants currently applying FRS 102 will face in a few years’ time. No detailed knowledge of the previous standard IAS 17 Leases is required. Delegates are taken right through from basic terminology to the more complicated measurement and modification rules implemented by the standard.

Course overview

  • The definition of a lease
  • The distinction between a lease and a service contract
  • The exceptions of low value and short term leases
  • How to measure ‘right of use assets’ and ‘lease obligations’ for lessees
  • The inclusion of assets and liabilities on balance sheet and subsequent accounting treatment
  • The impact of ‘economic incentives’ in changing the lease term and their impact on recorded assets and liabilities
  • Modifications to lease agreement including Covid 19 amendment on rent concessions
  • How to account for variable payments in a lease
  • How to account for modifications
  • How to account for sale and leaseback operations
  • The minor changes in lessor accounting
  • Transitional arrangements

Key learning outcomes

  • Appreciate the essential differences between IAS 17 Leases and IFRS 16 Leases
  • Identify a lease contract
  • Apply the appropriate measurement, presentation and disclosure requirements of IFRS 16
  • Be aware of the options available on transition and how to choose between them
  • Be aware of how the standard has worked in practice during its first year of implementation


Robert is a Emeritus Professor of Financial Reporting at the Ulster University. He has lectured extensively within Ireland and Great Britain on accounting standards to diverse organisations such as British Gas Plc, British Aerospace Plc, NATO, Bank of Ireland, John Laing Plc, Deloitte and Reed International Plc. He has lectured on IFRS standards to major companies in Cyprus, United States, Bahrain, South Africa, Zambia and Ghana. He has published 14 books on the subject in Ireland and GB