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Accounting for Leases
Overview
Updated in October 2024, this course covers the scope of the new lease standard, IFRS 16 Leases, and the principles of lease accounting for both lessee and lessor.
IFRS 16 Leases impacts lessee accounting quite significantly as a lessee will no longer be able to distinguish between finance lease contracts (on balance sheet) and operating lease contracts (off balance sheet).
For lessor accounting, the standard carries forward substantially the requirements in IAS 17. Accordingly, a lessor continues to classify leases as operating leases or finance leases, and to account for those two types of leases differently.
In this course, you will cover the scope of the new lease standard and the principles of lease accounting for both lessee and lessor.
Key topics:
- IFRS 16 Leases: a new standard
- Recognition and measurement exemption for the lessee
- How to account for leases
- Lessee accounting
- Measurement
- Lease modification lessee accounting
- Presentation and disclosures for the lessee
- Lessor accounting
- Sales and leaseback transactions
This course consists of one online course, one learning manual PDF and one online assessment.
What you'll learn
- describe the definition of a lease and how to identify a lease contract
- determine the appropriate accounting treatment (including journal entries and disclosures) for a lessee (taking into account issues such as the calculation of the right-of-use asset, lease payments, lease terms, the appropriate discount rate, and the appropriate accounting treatment for these items)
- explain the impact of lease modification, sale and leaseback and sublease transactions on the accounting treatment of the new leases
- apply the recognition and measurement requirement of IFRS for both lessee and lessor accounting.
Who is this for ?
This course is specifically designed for finance professionals who are involved in:
- external reporting
- financial management
- accounting administration
- management accounting
- financial accounting
