with Professor Chris Nobes
A major change to lease accounting under IFRS was introduced for 2019/20 year-ends. This on-line course examines how lessees should apply the new standard, IFRS 16.
• Outline of the changes caused by IFRS 16
• Which leases fall outside of IFRS 16?
• Identifying the lease term
• Calculating the lease asset and the lease liability
• Lease expenses in the income statement
• Covid-related rent concessions
• Planned amendments to IFRS 16 (Exposure Draft of 2021)
• Comparisons with lessee accounting under US GAAP and UK/Irish GAAP (FRS 102)
Chris is a professor of Accounting at the University of London and the University of Sydney. He was a member of the Accounting Standards Committee of the UK and Ireland, and then UK representative on the Board of the International Accounting Standards Committee.