ifrs 16 leases south africa | Accredited Africa Training Institute for Capacity Development https://www.aaticd.co.za/tag/ifrs-16-leases-south-africa/ Accredited Africa Training Institute for Capacity Development - Providing International Training Courses in South Africa Thu, 05 Mar 2020 10:06:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.4 https://i0.wp.com/www.aaticd.co.za/wp-content/uploads/2022/12/cropped-Accredited-Africa-Training-Institute-for-Capacity-Development-1.png?fit=32%2C32&ssl=1 ifrs 16 leases south africa | Accredited Africa Training Institute for Capacity Development https://www.aaticd.co.za/tag/ifrs-16-leases-south-africa/ 32 32 121582049 IFRS 16 – Leases https://www.aaticd.co.za/course/ifrs-16-leases/ Thu, 05 Mar 2020 10:06:24 +0000 http://aaticd.co.za/?post_type=course&p=3639 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 […]

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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)

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