Ifrs 16 Leases - Beginner To Advance

Learn lease accounting under IFRS 16 and GAAP differences with ASC 842 and IND AS 116

What you'll learn
Understanding of leases
Lease term
Lease liability and Right of use of asset
Discount rate
Fixed and in-substance fixed lease payments
Variable lease payments
Guaranteed and Unguaranteed residual value
Lessee accounting and disclosure
Lease exemptions
Lease classification
Lessor accounting and disclosure
Manufacturer and Dealer lessor
Lease components
Lease modification
COVID - Rent concessions
Sublease
Sale and lease back
Specific GAAP differences with ASC 842 and Ind AS 116
Requirements
Knowledge of basic accounting and financial reporting
Understanding of IAS 17 is a plus but not a prerequisite
Description
Hello and welcome to the course!This course, on the new leasing standard, is designed for both beginners and professionals.All the concepts and terms used in this standard are covered and explained right from scratch, so irrespective if you are familiar with lease accounting or not, this course will help you to gain full understanding from the very basics.Concepts like lease definition, present value of lease payments, implicit rate of interest in the lease, etc. are explained very clearly.Advance topics like understanding of multiple lease components, lease modification, Sublease, Sale and leaseback, Rent concession for COVID-19, etc. all are explained in a very simple and lucid manner.Accounting entries for lessor and lessee along with disclosure in Statement of financial position, Statement of profit and loss, Statement of cash flow, and specific GAAP differences with ASC 842 and Ind AS 116, also form part of the learning objectives.I have made this course so comprehensive that I can promise you that by the end of this course, you will have a clear understanding of all the terms and concepts used in this leasing standard.

Overview

Section 1: Introduction

Lecture 1 Overview of the course

Lecture 2 Discord community

Lecture 3 Why IFRS 16?

Section 2: Lease identification

Lecture 4 Understanding lease

Lecture 5 Identification of underlying asset

Lecture 6 Right to use

Lecture 7 Substitution right

Lecture 8 Lease term

Section 3: Lessee accounting

Lecture 9 Overview to lessee accounting

Lecture 10 Case study lease liability

Lecture 11 Discount rate - IRIL

Lecture 12 Discount rate - IBR

Lecture 13 Case study Discount Rate

Lecture 14 In-substance fixed payments

Lecture 15 Variable lease payments

Lecture 16 Case study VLP

Lecture 17 Residual Value - Guaranteed

Lecture 18 Case study GRV

Lecture 19 Factors for reasonable certainty

Lecture 20 Other important terms and exemption

Lecture 21 Lessee accounting and disclosure

Lecture 22 Case study lease accounting

Section 4: Lessor

Lecture 23 Overview and lease classification Part 1

Lecture 24 Lease classification Part 2

Lecture 25 Case study on lease classification

Lecture 26 Residual Value - Unguaranteed

Lecture 27 Lessor accounting and disclosure

Lecture 28 Manufacturer and dealer lessor

Lecture 29 Case study on lessor accounting

Section 5: Special topics

Lecture 30 Lease componets

Lecture 31 Lease modification Part 1

Lecture 32 Lease modification Part 2

Lecture 33 Case study on lease modification

Lecture 34 COVID Rent concession

Lecture 35 Case study on rent concession

Lecture 36 Sublease

Lecture 37 Sale and lease back Part 1

Lecture 38 Sale and lease back Part 2

Lecture 39 Case study on sale and leaseback

Lecture 40 GAAP Difference

Section 6: Conclusion

Lecture 41 Completion

Anyone who is willing to learn lease accounting and have basic accounting background