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Leases and other liability-related standards

Discusses the IFRS requirements in respect of operating and finance leases and related transactions such as sale and leaseback agreements.

The module also explores the rules behind provisions and contingencies.

IAS 17: Leases

  • Definition of a finance lease, including indications that a lease is a finance lease
  • Accounting for a finance lease in the lessee and the lessor financial statements
  • Implicit interest rate
  • Accounting for an operating lease in the lessee and the lessor financial statements including operating lease incentives
  • Sale and leaseback
  • Property leases
  • Current developments in lease accounting
  • Manufacturer or dealer lessors

IAS 37: Provisions, Contingent Liabilities and Contingent Assets

  • Recognition and measurement of provisions, including legal and constructive obligations
  • Onerous contracts, restructuring provisions and decommissioning provisions
  • Disclosure of contingent liabilities and contingent assets

IFRS 16 Leases:

  • Background
  • Recognition exemptions
  • Accounting by lessees
  • Accounting by lessors
  • Sale and leaseback transactions
  • Transition
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