Course not currently available

IFRS 16 Leases (online)

Course

Online

£ 75 VAT inc.

Description

  • Type

    Course

  • Level

    Intermediate

  • Methodology

    Online

  • Duration

    Flexible

  • Online campus

    Yes

  • Delivery of study materials

    Yes

  • Support service

    Yes

  • Virtual classes

    Yes

IFRS 16 is an International Financial Reporting Standard (IFRS) for leases developed by the International Accounting Standards Board (IASB) in collaboration with the Financial Accounting Standard Board (FASB) in the United States to provide guidance on accounting for leases.

This standard, which will replace the previous leasing standard (IAS17), was issued in January 2016 and will be effective from 1 January 2019. All companies reporting under IFRS will have to adhere to it by or before 2019. However, those that choose to adopt IFRS 16 early must at the same time adopt the provisions in the new IFRS 15 Revenue from Contracts with Customers standard.

This professional development course provides an overview of the new IFRS 16 standard and the key changes to how leases are accounted for by leasees. It also considers the issues faced by businesses when setting out to implement this new standard.

About this course

Learn about the key factors brought about by the IFRS 16 standard and how it affects your business.
Gain a deeper understanding of the definition of a lease contract and how accountability of these differ from the previous IAS 17 standard
Gain an understanding of meaning of lessee in the context of IFRS 16
Discover the impact of the IFRS 16 on the Statement of Income and Statement of Financial Position.

This professional development short course is ideally suited to those who work in the accounting field as well as anyone that teaches or studies financial accounting at A level, Degree or professional level. It will be of particular interest to people in roles such as:

Accountants and accounting staff
Finance directors
Accounting teachers
Accountancy students
Business owners
Business managers

The course is widely available for anyone to take part in regardless of age, location or education status.

However, there are some basic requirements. You will need access to the internet whether it is on your PC, tablet, mobile or other electronic devices, as well as a valid email address to register with our online learning environment in order to take part in the course.

You will need to agree to the terms and conditions before you start the course which will be available when you enrol.

We are proud to be an accredited provider of the CPD Standards Office for our online short courses and free courses, demonstrating that they conform to CPD best practice and are appropriate for inclusion in a formal CPD record.

A flexible course that fits in with working and family life
This compliance training course is open for continuous enrolment, which means it can be studied at any time and delivered 100% online, allowing you to manage your studies around work and family commitments. This is a self-guided course which involves reflective activities to assess subject understanding. Our online short courses are designed to be intellectually stimulating, thought provoking and rewarding.

Questions & Answers

Add your question

Our advisors and other users will be able to reply to you

Fill in your details to get a reply

We will only publish your name and question

Reviews

Subjects

  • Contracts
  • IFRS
  • International
  • Financial
  • Financial Training
  • Professionally
  • Accounted
  • Introduction
  • Approximately
  • Classification

Course programme

Course units

The course is made up of 2 units, each will require approximately 3 hours of study.

The content of unit is guided by professionally recognised theory and evidence:

Unit 1 – Introduction to the changes to how leases are accounted for and the impact on the financial statements.

In this unit, you will look at the classification requirements in accordance with IFRS 16 and will explore key concepts for example a lease, right of use, lease term and lease payment. This unit also covers current classes of lease contracts and ways of identifying whether a contract is a lease contract or service contract.

Unit 2 – Exploration of issues arising from the introduction of IFRS 16.

This unit pays close attention to recognising and measuring basic lease arrangements for lessee’s and compares the impact on the financial statements under the existing standard and the new standard.

IFRS 16 Leases (online)

£ 75 VAT inc.