Overview   

A lot of discussions have been had on IFRS 16 regarding lease transactions, lessor and lessee responsibilities, cashflows arising from lease agreements as well as the recognition of assets and liabilities under lease contracts. What is usually not highlighted is the "creation" of a new asset type called a right-of-use asset.  

Under IFRS 16, lessees, unless validly exempted, are required to capitalise the lease. How should they deal with the underlying leasehold asset?  Which costs are taken into consideration when determining its value and where is it disclosed on the financial statements?  

This webinar gives you in-depth knowledge on how to deal with right-of-use assets. Join Caryn Maitland CA(SA) on 9 December 2021 from 2:00 p.m. to 4:00 p.m. as she presents a discussion focusing on this asset type that was introduced under IFRS 16, Leases.  

Learning objectives and competencies developed 

Attending this CPD webinar will equip you with practical knowledge and develop the following competencies:  

• An understanding of the background to lease agreements under IFRS 16, Leases. 

• A full understanding of the initial recording and recognition of right-of-use assets under lease agreements. 

• An understanding of how to account for and depreciate a right-of-use asset. 

• An understanding of the circumstances under which recognition other than right-of-use applies in lease agreements.  

Content 

The webinar will cover the following topics:  

• Introduction to IFRS 16 

• What is an identified asset in a lease? 

• What is a right-of-use asset. 

• Amounts included at initial recording of the asset.  

• Depreciating the asset. 

• Accounting for the asset. 

• Recognition other than right-of-use: 

  • Low-value leases. 

  • Short-term lease. 

Obtaining your CPD certificate 

This webinar qualifies for 2 CPD hours with your professional body including ACCA, AAT, SAIPA, SAIBA, SAICA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by all relevant professional bodies. 

All attendees are issued with a CPD certificate available in an online profile. 

About the presenter 

Caryn Maitland CA(SA) 

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA. 

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.  

Caryn has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  She is also involved with the annual SAICA SMP Technical tour. 

Who should attend? 

The following persons will benefit from attending this webinar: 

• Professional accountants including CA(SA), BAP(SA), AGA(SA), RA, BA(SA), and Professional Accountant (SA). 

• Accounting officers.  

• Bookkeepers. 

• Trainee accountants. 

Price              

• R 475.00 - Online admission - Individual. 

• R 950.00 - Online admission - Company. 

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 

Additional material 

By attending this webinar you will be provided with: 

• A summarised slide presentation. 

• Reference documents and/or course material where available. 

• You can ask questions during the webinar and you will also have access to the presenter after the webinar.