Course Overview
The new lease standard, 'IFRS 16' has brought in a sea change in the way leases are recognised in the financial statements of a lessee. Not only does it impact financial statements, it might also impact the way businesses are done and financial covenants. This course outlines key concepts of IFRS 16 explained with the help of case studies and day-to-day practical examples.
Course Objective
The new standard has changed the landscape of financial statements of almost all the multinational companies. In the current scenario, it is imperative to know the standard and its nuances well so as to be able to read and interpret the financial statements in the right way. The objectives of this course is to enable participants in gaining an understanding for application of the standard and its correct interpretation in the financial statements.
Course Highlights
- Customised curriculum
- The programme is delivered using comprehensive proprietary training material developed using PwC’s global experience
- Apart from comprehensive theoretical aspects, the session are designed to sharpen the accounting knowledge of participants through practical illustrations
- The session will be conducted by senior and trained professionals who have extensive knowledge of IFRS and Ind AS
- Participants who attend all the sessions will be awarded a “Letter of Participation” on completion of the course
By attending the programme, the participant will gain:
an understanding of the key concepts of IFRS 16, including the disclosure requirements
an understanding of the key changes brought in by the standard as compared to previous standard
experience in forming professional judgement on the practical application of IFRS 16
an overview of the key differences between IFRS and Ind AS
detailed information on how to successfully apply IFRS 16 in your organisation
CFOs, finance heads, controllers, and middle level accounts and finance professionals.
It’s an instructor led 3 - 4 hours program.
- Scope of IFRS 16
- Definition of a lease
- Separating components of a contract
- Lease term
- Recognition and measurement exemptions
- Accounting by lessees
- Accounting by lessors
- Modification of lease
- Presentation and disclosure requirements
- Quick quiz
