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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: June 17, 2021

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  2:49Introduction to IFRS 16 The New IFRS Standard for Leases
  2:02Definitions
  2:08Lessee Classification Tests
  0:55Additional Conditions for Classification as Finance Lease
  1:35When a Lease Include Land and Building Elements
LEASE ACCOUNTING
  1:00Lease Accounting Treatment by Lessee Terms
  2:17Operating Lease Accounting Treatment by Lessee
  3:00Finance Lease Accounting Treatment by Lessee
  3:10Additional Conditions for Classification as Finance Lease
  1:56Operating Lease Accounting Treatment by Lessor
  3:49Finance Lease Accounting Treatment Manufacturer or Dealer
TRANSACTIONS FOR THE LEASE
  2:19Sale and Leaseback Transactions
  1:17Impairment of Lease Receivables
  2:20Other Lease Questions
  15:47Separating payments for the Lease from Other Elements
  5:52One more example
CONTINUOUS PLAY
  52:17IFRS 16 The New IFRS Standard for Leases
SUPPORTING MATERIAL
  PDFSlides: IFRS 16 The New IFRS Standard for Leases
  PDFIFRS 16 The New IFRS Standard for Leases Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM