IFRS 16 specifies how an IFRS reporter will recognise, measure, present and disclose leases. The standard provides a single lessee accounting model, requiring lessees to recognise assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value. Lessors continue to classify leases as operating or finance, with IFRS 16’s approach to lessor accounting substantially unchanged from its predecessor, IAS 17.
Webinar Details
Date: 2 February 2023
Time: 4.00 pm – 6.00 pm
Cost: Ksh 2,500 per participant, Ksh 2,000 for all group registrations of more than 5 participants
Faciliatators:Tony KinyuaManager | AssuranceKenya
Course Content
Topics covered include:
1. Scope nof IFRS 16
2. Identifying a lease
3. Lease term
4. Lessee accounting
5. Lessor accounting
6. Sale and leaseback transactions
7. Loss of control
Objectives
The objectives of the training is to:
i) Define a lease and related terms
ii) Set out how to identify a lease and determine the lease term
iii) Discuss the Lessee and Lessor accounting treatments
iv) Discuss treatment of sale and leaseback transactions and accounting entries for loss of control
Target Audience
All accountants
