Leases – Applying IFRS 16
  • Financial statements and notes - Know the balance sheet, the income statement, the cash flow statement, the statement of changes in shareholders' equity, the OIC, the notes.
  • IFRS standards - International Financial Reporting Standards

Target audience

- Accounting managers
- Bankers / Account Managers
- Chartered Accountants, Statutory Auditors
- Consolidation and Accounting Directors
- Consolidation managers
- Financial managers
- Management controllers
- Members of the legal department

1 day

Prerequisites

This training does not require any particular prerequisite.

Objectives

– Understand the requirements of the new standard and the approach proposed by IFRS 16 (mandatory application since January 1st2019)
– Anticipate and assess the impacts on your organization and financial statements presentation
– Understand and choose first application options

Detailed content

> Overview: what the new standard changes (or not) for lessees and lessors, impacts on balance sheet, income statement, cash flow statements and notes

> The new criteria for lease identification

– Elements to consider (right to control, an identified asset for an identified period in exchange for consideration)
– One of the main issues: identify the length of the lease
– Change in scope between IAS 17 and IFRS 16: contracts that are not considered as leasing anymore

> Using exemptions for non-material amounts and short-term contracts

> The major change: accounting for lease liabilities and rights of use

> Dealing with specific events

– Contract changes (duration, scope)
– Combined contracts
– Sub-leases
– Sale and lease back transactions

> Transition and front loading

> FinHarmony’s study on first application

Why should you attend?

Until January 1st, 2019, leases were reported differently by both the lessor and the lessee, depending on whether it was considered an operating or a financial lease. This often meant that significant amounts remained off-balance sheet and were adjusted by rating agencies on the basis of multiples.
IFRS 16 significantly modifies the way leases are reported by the lessee starting 2019. This training allows to understand how to apply IFRS 16.

Training methods and assessment

Technical presentation comes together with illustrations from real annual statements of public companies and numerous case studies. A final quiz assesses the acquisition of knowledge.
Assessment questionnaire.
A training certificate is delivered at the end of the session.
The trainer is available by e-mail to answer any follow-up questions participants may have.

Please note: in addition to this training, our consultants can assist you in implementing this new standard.

Prix

1020 € Excl. VAT – 1 224 € Incl. VAT

Médias

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Témoignages

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Jonathan C.
Entreprise
Formation