IFRS 16 – Leases

Why Attend

This course can help by providing an in-depth look at IFRS 16, the new lease standard, which requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements.

This course provides comprehensive guidance on identification, recognition, measurement, and presentation and disclosure requirements of lease accounting. We address both the lessee and lessor accounting models and provide real-life examples and helpful illustrations to ensure proper understanding of the new requirements.

This course also discusses the differences between IFRS 16 and U.S. GAAP Guidance in FASB

Course Methodology

This course uses explanations by a subject matter expert on how to write policies and procedures and what to include in them. Participants will be asked to write policies and procedures in different business cycles leading to financial reporting as per IFRS.

Course Objectives

By the end of the course, participants will be able to:

  •  Identify the nature, economic substance, and advantages of lease transactions
  • Apply the accounting for leases by lessees
  • Apply the accounting for leases by lessors
  • Distinguish the accounting and reporting for special features of lease arrangements
  • Understand the new business perspective and the main changes brought by the new Standard IFRS 16
  • Determine how these changes affect not only the accounting systems but also their business model and relationships
  • Identify the main differences between leasing and other service contracts
  • List the main elements a lessee has to consider in recording/ accounting for a lease contract
  • Understand what are the exemptions and the impacts in taking advantage of them
  • Identify what are the steps to be further taken to get ready on time for the challenges and opportunities brought IFRS 16 

Target Audience

This course is suitable for accountants and accounting staff, finance directors, Accounting teachers, accountancy students, business owners, business managers.

Target Competencies

  • Designing policies and procedures
  • Understanding business cycles
  • Applying financial policies
  • Preparing accounting procedures
  • Segregating employee tasks
  • Implementing internal controls
  • Developing accounting systems
  • Complying with International Financial Reporting Standards (IFRS)

Location:

South Africa

Training Dates:


Training Schedule
Duration
1 Week
2 Weeks
3 Weeks
Month
Option A
Option B
Option A
Option B
Option A
January
13 - 17 Jan
27 Jan - 31 Jan
6 - 17 Jan
20 Jan- 31 Jan
13 Jan - 31 Jan
February
10 - 14 Feb
24 Feb - 29 Feb
3 - 14 Feb
17 Feb - 29 Feb
10 Feb - 29 Feb
March
10 - 14 Mar
23 - 27 Mar
2 - 13 Mar
16 - 27 Mar
9 - 27 Mar
April
6 - 10 Apr
20 - 24 Apr
30 Mar - 10 Apr
13 - 24 Apr
6 - 24 Apr
May
6 - 10 May
27 -31 May
29 Apr - 10 May
20 - 31 May
13 - 31 May
June
8 - 12 Jun
22 - 26 Jun
1 -12 Jun
15 - 26 Jun
8 - 26 Jun
July
6 - 10 Jul
20 - 24 Jul
29 Jun - 10 Jul
13 - 24 Jul
6 - 24 Jul
August
10 - 14 Aug
24 - 28 Aug
3 - 14 Aug
17 - 28 Aug
10 - 28 Aug
September
7 - 11 Sep
21 - 25 Sep
31Aug - 10 Sep
14 - 25 Sep
7 - 25 Sep
October
5 - 9 Oct
19 - 23 Oct
28 Sep - 9 Oct
12 - 23 Oct
5 - 23 Oct
November
9 - 13 Nov
23 - 27 Nov
02 - 13 Nov
16 - 27 Nov
9 - 27 Nov
December
7 - 11 Dec
14 - 18 Dec
30 Nov - 11 Dec
07 - 18 Dec
30 Nov - 18 Dec


Course Duration:

Unit Standard:

NQF Level:

Number of Credits:


Course Fees


Note: Please fill in the online application form on the left or bottom if this page to receive a quotation with detailed pricing from AATICD.

How to Apply:

To Apply Simply Fill in the Online Enquiries / Applications form on the Right Sidebar or Bottom of this website https://www.aaticd.co.za

NB:

When filling the online application form; please take note of your desired Training Month, Duration in Weeks and Training Session. This will give us the exact dates you will be attending your classes.

Also note that Tuition Fees must be paid upfront on or before training start date. This is to ensure that all resources are made availabe for you before you start. You will not be allowed into training if fees are not paid and verified.

Also note that Tuition Fees Cancellations must be made 14 business working days before the starting date of training. This will allow us to do a 50% refund of the total amount paid. If cancellations are made thereafter note that no refund will be made to delegates.

Tuition Fees include teas and lunch as well as either a laptop or tablet which a delegate will take home free of charge.

Tuition Fee DOES NOT include Accommodation, Dinners and other Extra Curricular Activities or Incidentals. Delegates are expected to fund this on their own. AATICD will not be held accountable for any incidents to delegates.

In-House Trainings are also available for 3 or more delegates for any duration. Please consult with our Administration for such In-House training bookings.


Course Outline

  • Advantages of leasing
  • Initial recognition, measurement, and presentation of lease liabilities and lease assets
  • Subsequent lease accounting
  • Lease classification
  • Sales-type and direct financing leases
  • Disclosure requirement differences between IFRS 16 and U.S. GAAP Guidance in FASB ASC 842
  • Key requirements of IFRS 16
  • Issues associated with implementing IFRS 16
  • Significant impact on a range of key metrics monitored by stakeholders, like EBITDA, EPS, net assets, gearing ratios
  • Debt covenants – ratios might need to be renegotiated.
  • Share-based payments– performance metrics might need renegotiation.
  • Dividend policy – the revised profile of the profit or loss expense might affect the ability to pay dividends.
  • Lease negotiations – although accounting should not be the key driver in commercial negotiations, market behavior might change towards shorter lease tenures to minimize lease liabilities.
  • Understand the new business perspective and the main changes brought by the new Standard IFRS 16
  • Determine how these changes affect not only the accounting systems but also their business model and relationships
  • Identify the main differences between leasing and other service contracts
  • Elements a lessee has to consider in recording/ accounting for a lease contract
  • Exemptions and the impacts in taking advantage of them
  • Challenges and opportunities brought IFRS 16  
  • Scope of the Standard
  • The new definition of leasing and how to correctly identify a leasing contract
  • Accounting model for lessee
  • Insights to approach more complex areas
  • Available exemptions
  • Timeline and options for implementation