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IFRS 16 - Leases (The New Leases Standard)


BPP Professional Education

Summary

Price
£372 inc VAT
Study method
Classroom
Duration
1 day · Part-time
Qualification
No formal qualification
CPD
3 CPD hours / points
Additional info
  • Tutor is available to students

Location & dates

Location
Address
Venue may change up to 14-days before the course start date
BPP University, St James Building, 79 Oxford Street
MANCHESTER
Lancashire
M16FQ
United Kingdom
Address
Venue may change up to 14-days before the course start date’
9-10 Portland Place
West London
London
W1B1PR
United Kingdom

Overview

On 13 January 2016 the International Accounting Standard Board issued a new accounting standard, called IFRS 16 - Leases. This standard replaces accounting requirements which were introduced over thirty years ago. It is a major revision of the way in which companies account for leases. The new standard is formed after multiple rounds of public consultation and has been part of collaborations with the US Financial Accounting Standards Board (FASB).

The main proposal is for lessees to bring all leases onto the balance sheet and eliminate the current lessee accounting treatment for operating leases and finance leases under IAS 17. The proposals are likely to have a major impact on companies which lease significant high value items such as the airline, transport and retail sectors.

This half day course will cover the current accounting requirements under IAS 17 and then consider the accounting for such transactions under the new lease accounting exposure draft.

Venue may change up to 14-days before the course start date. Enquire for dates.

CPD

3 CPD hours / points
Accredited by BPP Professional Education Limited

Description

Learning outcomes include:

  • Understanding of current accounting.
  • Scope and scope exclusions.
  • Lessee accounting under the IFRS 16 - Leases.
  • Key terminology explained.
  • Differences to current accounting treatment.
  • Practical case studies to aid understanding of proposed changes and their likely impact.

You may also be interested in IFRS 16 Leases - Numerical Financial Reporting Workshop.

Who is this course for?

After many years of waiting, the new leases standard, IFRS 16 - Leases, has finally been published. The new standard will have an impact on all organisations, particularly those with major assets under operating leases. This course is designed to bring delegates up-to-date with this standard for lease accounting, and is therefore suitable for delegates with existing knowledge of the current lease accounting standard under IFRS (IAS 17 - Leases).

Questions and answers

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FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.