Accounting and financial reporting of leases in accordance with IFRS 16 and FRS 116.
Duration: 4 Hours.
Course Outline
Discuss and apply the lessee accounting requirements for leases including the identification of a lease and the measurement of the right of use asset and liability
Discuss and apply the accounting for leases by lessors
Discuss and apply the circumstances where there may be re-measurement of the lease liability
Discuss and apply the reasons behind the separation of the components of a lease contract into lease and non-lease elements
Discuss the recognition exemptions under the current leasing standard
Discuss and apply the principles behind accounting for sale and leaseback transactions.
