Seminar – IFRS 16

Seminar overview

The seminar covers in details the principle for measurement and recognition of leases as prescribed by IFRS 16.

IFRS 16 is a relatively new standard which has replaced the old standard IAS 17

One of the main reasons of introducing IFRS 16 was to avoid "Off Balance Sheet Financing" which IAS 17 was unable to block. After the introduction of IFRS 16 businesses are now obliged to bring back all the assets on to their statement of financial position which previously were shown as operating leases and thus did not appear as assets or liabilities on the SOFP

It is a complete guide kit for those who want to learn the treatment of Revenue under IFRS 16. The Seminar includes complete lecture video on standard as well as several questions, solutions and case studies.

Seminar overview

Accounting and Finance Professionals as well as students from ACCA, CIMA, CA, ICAEW, CAT BBA, MBA and others studying Financial Accounting under IFRS

Learning Outcome

It is a complete guide to international financial reporting standard IFRS 16 leases as well as comparison with the old standard IAS 17 leases

• Prescribes the accounting treatment for a lease contract under both lessee and lessor

accounting.

• Sets recognition, measurement and disclosure of a lease contract.
• Provides numerical case studies on how to make transition from IAS 17 leases to IFRS 16
  leases.
• This seminar tackles sale and lease back transactions under lessee accounting.
• Prescribes and gives practical solution on how to deal with finance and operating leases
  under lessor accounting.

Seminar Content

1. Problems with the old standard IAS 17
2. What is new in IFRS 16
3. Impact of IFRS 16 on Financial Statements and their Interpretation
4. Understanding off balance sheet financing with examples
5. Sale and lease back with examples
6. When and how sale and lease back is recognized
7. Accounting for sale and leaseback
8. Classifications of Lease contracts
9. Short life contracts
10. Concept of Right of Use Asset and the new definition
11. Lessee accounting treatment
12. Initial recognition of lease contracts
13. Initial measurement of lease liability
14. Measurement of Right of Use Asset
15. Subsequent measurement of lease liability
16. Remeasurement of lease liability
17. Lessor accounting treatment
18. Special cases

Trainer Information

Syed Muhammad Ali has over twenty years of working experience. During the twenty years of his career he has worked in Auditing, Banking, Telecom and Oil and Gas sector in different countries. He has got tremendous experience in Financial Reporting, Financial Management, Contract Management, Project Finance and Business Management.

Apart from his professional career, Mr. Ali has also been actively engaged in training and development of professionals since 2006. During all these years, thousands of delegates have benefited from his knowledge and expertise. He has exam focused approach helps his students to pass the exam in the very first attempt.
He is a corporate trainer and has provided training seminar to over 200 corporate clients including Fortune 500 companies.

His Accounting & Finance seminar are used by companies such as Amazon, Volkswagen, Disney, Nestlé, Reliance Group, Toyota Motors, Vodafone and many others. As a consultant he has worked on several projects including projects funded by the World Bank and the European Union.