This training course is suitable for you if you understand the basic principles of reporting lease contracts under IFRS but are looking for answers to specific questions, such as:
- What to do if the company's plans concerning a leased property have changed?
- How to determine the discount rate? Can it be the same for all companies within the group?
- Is this contract a lease? Does an outsourcing contract include a lease component?
- What to do if a contract has been concluded for an indefinite period?
- What to do if an amendment to the lease contract has been concluded (change in the lease term, change in the leased property)?
- How to deal with your company having sold assets and then leased them back?
- What information about leases should be disclosed in the financial statements?
Who are the intended participants?
- Employees of companies that report to a group under IFRS or prepare financial statements under IFRS
- CFOs
- Accountants accounting for assets acquired in form of a lease
- Controlling employees preparing financial plans or interpreting results
- Managers who make decisions on the method of acquiring fixed assets and constructing lease contracts
- Anyone who needs to understand the logic of reporting leases under IFRS (investors, financial analysts, etc.)
Programme
- Determining a lease term for leases concluded for indefinite period
- Determining discount rate
- Examples: effects of changes in estimates
- Examples: effects of changes in contracts
- Example: sale and subsequent lease back
- Lease – definition and risks of outsourcing contracts
- Reporting – what needs to be disclosed
Benefits
After attending the course, you will be able to:
- Predict the effect of concluding or amending lease contracts with specific conditions on the company’s financial statements
- Know how to reflect changes to leases or their conditions in the company’s accounts/financial statements
