2019 hails the end to operating leases and off-balance sheet financing in the accounts of lessees. The IASB expects one in two quoted companies to be affected by the introduction of IFRS 16, forcing them to bring approx. $3tn of leasing obligations on their balance sheets. This change in accounting will impact companies P&L profile, debt covenants and credit scores.
For existing finance leases, the standard will also bring changes, and increase the accounting complexity. Owing to the number of assumptions and estimates required by IFRS 16, ongoing annual maintenance of the accounting numbers will be significantly increased, especially for entities that have lease extension/termination options or variable lease payments.
How will companies identify all their leases and gather the data required to calculate the necessary adjustments on transition? Will the standard change decisions to buy rather than lease? These questions will be addressed as part of a detailed analysis of the requirements, using exercises and examples to enhance understanding.
- Identifying a lease
- Accounting for lease vs. non-lease components
- Modifications to leases
- Lessee accounting – Recognition and accounting principles
- KPI considerations
- Reassessing the lease liability
- Elections and exemptions
- Sale and leaseback
- Transition requirements and practical expedients
- Practical issues and insights
Suitability - Who should attend?
Anyone needing a comprehensive understanding of this standard particularly the finance department, to legal teams, sales departments, etc.
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