Leases

Quick facts

Date: 15 June 2012

Duration: 1 day

Timing: 09.30 - 17.30

Instructors: Sebastian Harushimana & Sammy Hofmans

Language: English

Location: Brussels

Fee per participant: EUR 750

A certificate of attendance will be granted, if accredited by:
6 hours

Context

This one-day course provides an in-depth review of the accounting and disclosure requirements of IFRS related to lease accounting under the existing guidance (IAS 17). The course also provides an overview of the leasing exposure draft (proposed new guidance) and the 2011 re-deliberations based on the received comment letters with respect to the exposure draft.

Main course objectives

Understand the issues and fundamental principles of lease accounting. The main topics include:

  • lease accounting scope and exclusions
  • inception of the lease and commencement of the lease term
  • classification of leases
  • accounting by lessee
  • sale and leaseback transactions
  • accounting by lessor
  • determining whether an arrangement contains a lease
  • evaluating the substance of transactions in the legal form of a lease
  • operating lease incentives
  • status of the IASB-FASB lease project:
    • right-of-use (asset)
    • obligation to pay rentals
    • changes in estimated lease payments
    • determining and reassessing lease term
    • contingent rentals and residual value guarantees
    • presentation in the statements of financial position, comprehensive income and cash flows
    • lessor accounting

Main course benefits

  • Refresh of the current leasing guidance (IAS 17);
  • Obtain an understanding of the major impact of the proposed new leasing guidance.

Full course agenda

1. Applicable IFRS standards / Interpretations
2. Definitions
3. Classification of leases (finance versus operating lease)
4. Measurement (lessee and lessor accounting)
5. ‘Sale and leaseback’- transactions
6. Key disclosures under IAS 17
7. Future of lease accounting (Exposure Draft and re-deliberations)
8. Exercises (IAS 17)

Target groups

  • Consolidation managers
  • Accounting & finance managers
  • Financial communication managers and their employees
  • Anyone involved in the preparation of financial statements
  • General managers, operations & managing directors
  • Controllers
  • Auditors
  • Executive committees
  • Consolidators
  • Anyone working directly or indirectly with IFRS, including: board committees, accountants, financial managers, controllers, tax managers, information system managers and managers of a business unit.

Prerequisites

Not applicable

Testimonials

  • “The most interesting IFRS training I ever followed”
  • “Excellent trainer: clear, organised and available to respond to questions”
  • “Inspiring speaker”