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Leasing guidance in International Financial Reporting Standards (IFRS) applies to property, plant, and equipment and other assets, with limited exceptions. This course highlights the accounting and financial requirements of this relatively new accounting standard.

Learning Objectives


  • Explore how to identify a lease transaction under IFRS 16.

  • Discover the impact of the latest lease accounting requirements on lessees and lessors.

  • Recognize exceptions to on-balance-sheet lease accounting for lessees.

Last updated/reviewed: April 24, 2022

Included In Certifications

This course is included in the following Certification Programs:

17 CoursesIFRS Certificate Program

  1. General Considerations for Preparing Financial Statements in Accordance with IFRS
  2. IFRS vs. U.S. GAAP - Major Differences in Accounting
  3. 2022 IFRS Update
  4. IFRS for Small and Medium-Sized Entities Compared to Full IFRS
  5. Accounting for Revenue from Contracts with Customers per IFRS 15
  6. Accounting for Leases under IFRS 16
  7. IFRS - Accounting for Share-Based Payment Awards per IFRS 2
  8. Accounting for Financial Instruments under IFRS 9
  9. Accounting for Nonfinancial Assets under IFRS
  10. Accounting for Business Combinations under IFRS 3
  11. IFRS - Accounting for Employee Benefits per IAS 19 and IFRIC 14
  12. Accounting for Investments in Other Entities, Including Consolidation, under IFRS
  13. IFRS - Accounting for Income Taxes per IAS 12
  14. IFRS - Derivatives and Hedge Accounting under IFRS 9
  15. IFRS - Special Accounting Topics
  16. IFRS - Special Financial Reporting Issues
  17. IFRS - General Financial Statement Disclosures

20 Reviews (71 ratings)Reviews

5
Member's Profile
It was good but I would have liked to have seen more journal entries. Conceptually I understood it but taking it a step further and showing things like entries at lease origination, or the allocation between buildings and land would have taken really made understanding easier IMO.
4
Anonymous Author
Overall very good and covers all aspects of lease accounting per IFRS. This course will provide a basic understanding of the new changes though there are no examples so application will need further research.
5
Member's Profile
Great insight on how Lease Accounting will change under IFRS 16. And all the decisions that must be made in properly booking right of use asset and liabilities starting next year
5
Anonymous Author
Good overview of the new lease accounting rules. I agree that specific examples would be helpful, even if very simple. Makes me wonder if our regulators are just bored.
5
Member's Profile
Excellent overview of the new rules on leases. Would have liked to seen some examples of the different situations that were discussed in the course.
3
Member's Profile
Leases standard is a complex one and explained by author in a detailed way. Please add examples, illustrations to make users comprehend the topic.
5
Anonymous Author
very informative course which i found very helpful as i was not too knowledgably on the topic at hand. Professor was very thorough in te topic.
4
Anonymous Author
Good survey course on the changes in lease accounting. A lot of variables to each component with a reasonable explanation of them.
4
Anonymous Author
nothing to add..................................................................................................................
5
Member's Profile
I received a 100% on my exam. Ms. Louis explains each concept well. I do wish she would give more real world examples.
4
Member's Profile
Practical examples if added would be helpful to provide comprehensive understanding of the topic.
5
Anonymous Author
This was a great course. The instructor covered the basics and then some. Very knowledgeable.
5
Anonymous Author
Very informative training course. Highly recommend to anyone in the audit/accounting field.
5
Anonymous Author
This course was helpful to understand the fundamentals of lease accounting under IFRS 16.
3
Member's Profile
I would have like more examples of the concepts to make them more understandable.
4
Anonymous Author
Good course regarding leases especially for anyone is who is beginner.
3
Member's Profile
I would have liked to have more examples of different kinds of leases.
3
Member's Profile
Practical examples required for lessee and lessor accounting
4
Anonymous Author
Good course on the basics of lease accounting for IFRS
4
Anonymous Author
I enjoyed the course and found it very informative.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  00:59Introduction to Accounting for Leases Under IFRS 16
  7:27Applicability
  5:16Initial Recognition Practical Expedients
  6:59Identifying Components of a Contract
  9:30Lessee Accounting
  7:47Lessor Accounting
  2:47Sale and Leaseback Transactions
  3:26Lease Modifications and Presentation and Disclosure
  3:43Other Matters and Conclusion
CONTINUOUS PLAY
  47:54Accounting for Leases under IFRS 16
SUPPORTING MATERIALS
  PDFSlides: Accounting for Leases under IFRS 16
  PDFAccounting for Leases under IFRS 16 Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM