Course description
IFRS 16 - Practical Application for Lessees (ICAS)
IFRS 16 Leases is no longer new, but it continues to pose application problems to lessees. This course looks at the requirements of IFRS 16 in the light of numerous practical examples, and focuses on how the standard should be applied, areas where policy choices are required, the information needs of the standard, and its impact on financial statements and derived information.
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Suitability - Who should attend?
The course is primarily designed for anyone involved in the preparation or audit of financial statements under IFRS Standards.
Outcome / Qualification etc.
The course considers numerous practical examples in order to enable users to apply the standard in practice and to make the decisions necessary in its application.Specific areas to be considered include: Identification of leases Applying the practical expedients Choices in identifying low value underlying assets Impacts of not adopting the practical expedients Initial measurement of lease liabilities Identifying an appropriate discount rateThe lease term – the impact of extension, cancellation and purchase options.