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The accounting treatment of leases can be a daunting and confusing task.

As you probably know, IFRS 16 replaced IAS 17 effective January 1, 2019.

IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. However, you are probably asking such questions as…Do assets and liabilities arising from a lease continue to be initially measured on a present value basis? Does the leased asset (the right to use the underlying asset) continue to be presented in the statement of financial position either as part of property, plant, and equipment or as its own line item?

These and many other questions are answered in this session that covers the changes introduced in IFRS 16.

Course Key Concepts: IFRS, IFRS 16, Leases.

Learning Objectives
  • Discover and understand the differences in leases.
  • Identify account for leases.
  • Recognize and be able to classify leases.
  • Explore and grasp the differences for lessees and lessors.
  • Explore and know the required disclosures of IFRS 16.
Last updated/reviewed: March 16, 2024
3 Reviews (12 ratings)

Reviews

5
Member's Profile
I think the course provides a good overview of IFRS 16. It explains the classifications of financing and operating leases in details and provides examples at the end of the class.

5
Anonymous Author
Important IFRS topics covered here as the lease accounting underwent a substantial change with IFRS 16. Thank you for the lessons.

5
Anonymous Author
I enjoyed this course, and I found it very informative.

Prerequisites
Course Complexity: Foundational

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to IFRS 16 The New IFRS Standard for Leases2:49
  Definitions2:02
  Lessee Classification Tests2:08
  Additional Conditions for Classification as Finance Lease0:55
  When a Lease Include Land and Building Elements1:35
LEASE ACCOUNTING
  Lease Accounting Treatment by Lessee Terms1:00
  Operating Lease Accounting Treatment by Lessee2:17
  Finance Lease Accounting Treatment by Lessee3:00
  Additional Conditions for Classification as Finance Lease3:10
  Operating Lease Accounting Treatment by Lessor1:56
  Finance Lease Accounting Treatment Manufacturer or Dealer3:49
TRANSACTIONS FOR THE LEASE
  Sale and Leaseback Transactions2:19
  Impairment of Lease Receivables1:17
  Other Lease Questions2:20
  Separating payments for the Lease from Other Elements15:47
  One more example5:52
CONTINUOUS PLAY
  IFRS 16 The New IFRS Standard for Leases52:17
SUPPORTING MATERIAL
  Slides: IFRS 16 The New IFRS Standard for LeasesPDF
  IFRS 16 The New IFRS Standard for Leases Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam