IFRS 16 Leases
Associated Courses
Course Description
Non-current assets, needed for our company’s operation, can be owned or rented. IFRS 16 standard deals with leases. It defines accounting requirements for lessees and lessors as well. The accounting model for lessees and lessor is not symmetrical.
Lessees have to recognise lease liability reflecting future lease payments and a right-of-use asset for almost all lease contracts. On the other side for lessors the accounting model depends on the classification of a lease as operating or finance lease.
This course is designed to help you understand the definition of a lease, explains what period shall be considered as lease term, explains recognition and measurement exemptions, after which details the lessees accounting as well as the lessor accounting using practical examples and interim tests to enhance understanding.
Course Structure
The eLearn introduces the following topics:
- Introduction: scope
- Definition: identifying a lease, separating components of a contract, combination of contracts
- Lessee accounting: lease liability, right-of-use asset
- Lessor accounting: operating and finance leases, classification indicators
- Lease term, exemptions, sublease
- Final quiz
Should Attend
This course is intended for professionals in financial and actuarial functions.
Prerequisites
There are no prerequisites to follow this eLearn
Assessment
A final quiz will test your knowledge.
Key-Features
This course will enable you to:
- identify features of a contract which indicate that the contract contains a lease
- decide whether a substitution right is substantive
- recognize suppliers’ protective rights
- allocate transaction price when separating components of a contract
- recognize variable payments in a contract
- identify criteria for recognition and measurement exemptions
- identify the lease term
- apply lessee accounting
- apply lessor accounting
Course Structure
The eLearn introduces the following topics:
- Introduction: scope
- Definition: identifying a lease, separating components of a contract, combination of contracts
- Lessee accounting: lease liability, right-of-use asset
- Lessor accounting: operating and finance leases, classification indicators
- Lease term, exemptions, sublease
- Final quiz
Should Attend
This course is intended for professionals in financial and actuarial functions.
Prerequisites
There are no prerequisites to follow this eLearn
Assessment
A final quiz will test your knowledge.
Key-Features
This course will enable you to:
- identify features of a contract which indicate that the contract contains a lease
- decide whether a substitution right is substantive
- recognize suppliers’ protective rights
- allocate transaction price when separating components of a contract
- recognize variable payments in a contract
- identify criteria for recognition and measurement exemptions
- identify the lease term
- apply lessee accounting
- apply lessor accounting
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