Aviation Finance Finuas Network
We are pleased to be able to offer a limited number of free places for jobseekers on our network programmes subject to funding being available
CPD Hours: 3:30
Cost: Contact the centre
Location: Chartered Accountants House | 47 Pearse St, Dublin 2, Ireland
Learning Mode: Classroom based
Next available date: Thursday, October 20, 2016 9:30:00 am
This course will provide an understanding of the consequences of applying IFRS 16 which generally brings the obligation to pay rentals on foot of an operating lease onto the balance sheet. To this end, the course will cover the recognition, measurement, presentation and disclosure requirements of IFRS 16 Leases.
Who should attend this course?
- Anyone involved in a lease/buy decision and needing to understand the accounting consequences;
- Finance Directors, financial controllers and accountants wishing to ensure that the financial statements for which they are responsible have been prepared in accordance with the rules in IFRS as regards leases; and
- Auditors with clients preparing financial statements in accordance with IFRS;
- Financial implications of treating operating leases on balance sheet – impact on various financial statement metrics eg EBITDA; EBIT; gearing; ROCE;
- Buy or lease decision – the accounting implications
- Scope of IFRS 16
- Recognition requirements and exemptions – no distinction between operating and finance leases
- The definition of a lease and identifying a lease
- The term of a lease
- Initial Measurement of the right of use lease asset and of the obligation – the lease liability
- Subsequent Measurement
- Presentation: statement of financial position and profit or loss impacts
- Lessor accounting – finance and operating leases distinction remains
- Sale And Leaseback Transactions and assessing whether the transfer of the asset is a sale
How they will be covered e.g. lecture style, workshop?
The topics will be covered mainly by presentation supported by examples. Participants are encouraged to interact as much as possible during the session.
The learning outcomes
Participants will be better equipped to understand the accounting implications of entering a lease when the new standard is effective and better able to articulate the accounting consequences in advance of any buy/lease decision