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
Online courses cannot be booked on behalf of someone else.
Access will only be granted to the person completing the online
order.
Who should attend
The course was recorded in March 2022 and is particularly suitable for:
- Accountants, 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.
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
Speaker
Robert Kirk 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
Contact us
If you have any questions regarding this or any other CPD course or
requirements, please feel free to contact the team here or call us at (+353) 01 523 3930
LOADING...