IFRS 16 Leases

Understand the fundamentals of leases according to IFRS 16

Overview

Non-current assets can be owned or rented. According to IFRS 16 the accounting model for lessee and lessor is not symmetrical. Lessees have to recognise lease liability and right-of-use asset for almost all lease contracts, while for lessors the accounting model depends on the classification of a lease as operating or finance lease.

This course helps you understand the definition of a lease, explains what period shall be considered as lease term, explains recognition and measurement exemptions, after which details the lessee’s as well as the lessor’s accounting using practical examples and interim tests.

Learning outcomes
Additional information

You will learn:

the features of a contract which indicate that the contract contains a lease (substitution right, protective rights)
transaction price allocation rules when separating components of a contract
the concept of variable payments in a contract
criteria for recognition and measurement exemptions
how to identify the lease term
lessee and lessor accounting.

Designed for finance and accounting experts who are familiar with fundamental (local) accounting and reporting processes.
Part of the IFRS e-learning series developed by PwC Academy.
CPD certificate is available upon successful completion of all courses.
12-month access.

Price

Price 30 GBP

Location

Global

Date & time

On demand

Book on ACCA Learning

Course providers