IFRS Masterclass - AASB 16 Leases
AASB 16 is here!
With AASB 16 being applicable from 1 July 2019 for most Australian entities, it is time that finance teams move from the high level theory to a comprehensive understanding of how to apply the standard.
Most finance teams are on top of the big picture story of AASB 16. However, very few finance teams have come to terms with the practicalities of its application and how the new lease accounting model will change key financial metrics and KPIs and introduce volatility to the balance sheet and profit or loss due to continual re-measurement requirements.
About The Masterclass
This hands-on masterclass, run by BDO’s IFRS Advisory experts, will assist you in preparing the journals for adoption of AASB 16. Through the use of a practical case study attendees will leave the day with an in-depth knowledge of:
Identifying a lease within a contract
The initial calculation of the lease liability and the related interest expense efficiently
The initial calculation of the ROU asset and the related depreciation expenses efficiently
The ongoing remeasuring the lease liability and ROU asset as a result of
Changes to the lease term due to various options
The ongoing modification of the lease liability and the ROU asset
What to do with legacy onerous lease liabilities
What to do with legacy lease accruals, lease prepayments, leasehold improvements and various lease incentives
Three different transitional options
Understanding the differences between IFRS and US GAAP
Who Should Attend
Chief Financial Officers, Financial Controllers, Finance Managers, Accountants, Auditors and those involved in any aspects of financial or corporate reporting.