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IFRS 16 - Leases Fundamentals



This one-hour length IFRS 16 – Fundamentals of Leases webinar will delve into the key changes and practical implications to lease accounting brought about by IFRS 16.

Content Description

With a new definition of what constitutes a lease and with all operating leases coming onto the balance sheet, financial statements of Lessees will look very different. For lessees that have entered into contracts classified as operating leases under IAS 17, the changes brought about through IFRS 16 could have a huge impact on the financial statements. Be prepared now in your journey to transition, which is fast approaching.

Highlights

The following are some of the areas that will be covered in the IFRS 16 webinar:

  • Fundamentals of IFRS 16, including the key changes under the new leasing standard when compare to IAS 17.
  • Impact on balance sheets, leverage ratios, and capital ratios.
  • The effect on commonly used financial metrics such as gearing ratio, current ratio, asset turnover, interest cover, EBIT, operating profit, net income, EPS, ROCE and ROE.
  • Key impact on the areas such as finance and accounting, IT, procurement, tax, treasury, legal, operations, corporate real estate and HE.
  • Practical considerations in implementation and transition.

Learning Outcomes

Upon satisfactory completion of this activity delegates will be able to:

  • IFRS 16 Explain the fundamental requirements of IFRS 16 including key changes from IAS 17.
  • Identify the common challenges and pitfalls when applying the requirements of IFRS16.
  • Explain key disclosure and transition requirements.
  • Use relevant examples of how the requirements can be applied in practice, and how it is likely to affect you. Identify how criteria such as ‘definition of a lease’, ‘identified asset’ and ‘lease term’ may impact on accounting outcomes.

Benefits

Benefit from practical insights and examples on implementation issues around IFRS 16, which should enable you to effectively understand and assist in transitioning to the new requirements.

Aletta Boshoff is the national leader of IFRS Advisory at BDO Australia. She has over 25 years’ experience in financial reporting and accounting, audit and assurance, corporate governance, accounting professional and ethical standards, learning and development (including client Webinars, newsletters and seminars), corporations law and other regulatory requirements. She has undertaken numerous engagements advising on the application of Australian accounting standards and IFRSs.

Aletta commenced her career at Coopers & Lybrand in Johannesburg. Aletta was an Associate Professor at the University of Johannesburg before immigrating to Australia in 2002. Prior to joining BDO Australia, Aletta was the Technical Director at two large national networks in Australia. Aletta also spent a number of years as a Project Manager at the Australian Accounting Standards Board (AASB).



EVENT DETAILS



Topic: Audit & Assurance, Corporate Finance, Reporting



Sub-Topic: Finance Management, Financial Reporting, Financial Statement Audit



Format: Webinar



Proficiency Level: Intermediate



CPD: 1 hours