IFRS U L T A D PwC A 2016 - IFRS Update: Leases training in Abu Dhabi by PwC's Academy

On 13 January 2016, the International Accounting Standards Board (IASB) published IFRS 16, 'Leases', which replaces the current guidance in IAS 17. This will require far-reaching changes in accounting; by lessees in particular. The new standard fundamentally changes the way companies will account for their operating leases by putting the assets on the balance sheet with a respective liability. This will have an impact on the debt/equity ratios, lending covenants and market facing indicators of performance and will require a significant amount of time to identify and account for existing leases through the transition phase. IFRS 16 is effective for annual reporting periods beginning on or after 1 January 2019. There is a lot of work to be done prior to the standard becoming effective so preparation needs to start NOW. This interactive course, with the aid of examples, illustrations and case studies, will ensure that participants have a greater understanding of what they need to do before the standard comes into effect and how to deal with it when it does.
By the end of this course, participants will have a greater understanding of:
. Impact analysis
. What is a lease
. How to identify a lease under IFRS 16
. Exemptions and exceptions to the new accounting model for low value and short term items
. Accounting for IAS 17's operating leases and finance leases as a lessee and lessor under IFRS 16
. Accounting for sale and leaseback arrangements
. Disclosure requirements
. Transitional arrangements
. Next steps in preparation for 2019
To find out more contact us at +971 4 515 7495 or trainedbypwc-AT-ae.pwc.com