IFRS 16 Leases Training
Transforming finance training
IFRS 16 Leases training
Our practical IFRS 16 Leases training course looks at one of the most controversial accounting standards in recent times. The impact of IFRS 16 Leases is considerable and reaches way beyond the finance function.
The fact that most leases will now be on balance sheet is well known. This course takes you further than that and explores real world issues coming out of adoption. Accounting challenges include capturing sufficient information, evidencing it for auditors and dealing with modifications and incentives (which will be much more prevalent due to Covid-19).
Wider concerns include considering: devolution of budgets; performance metrics; bonus structures; and potential impact on strategic decisions.
The potentially thorny risks of embedded leases is introduced on this course.
The initial preparation work may have already been done by specialist teams who focus on getting the formal accounts prepared. The focus now needs to move to embedding the changes throughout the organisation, and part of that will be the need to train and upskill accountants throughout the organisation (for example those working in FP&A or business partnering).
IFRS 16 Leases – Learning Outcomes
- Rationale for the accounting change
- An overview of the new framework for leases
- Introduction to the concept and risks of embedded leases
- The exceptions for short-term and low-value leases
- Practical exercises to aid understanding
- The commercial impact of the changes and a discussion around how these need to be managed
Note: We also deliver more comprehensive courses on embedded leases. This course is also relevant for those reporting under FRS102 as it is likely to be adopted into UK GAAP.