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Leases (IFRS 16)

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Overview  

Managing lease accounting under IFRS 16 remains a highly demanding area of financial reporting, long after its initial transition period. Many organisations continue to grapple with the operational complexities of maintaining an accurate, updated lease portfolio, especially when faced with frequent changes in lease arrangements and economic shifts. 

For accounting professionals, the implications of getting lease accounting wrong are immediate. Inaccurate balance sheet reporting of right-of-use assets and lease liabilities leads to restatements, compromised financial ratios and negative audit outcomes. Professional judgment must be continually applied to verify lease terms, determine incremental borrowing rates and assess potential impairment. 

Join Caryn Maitland CA(SA) as she delivers a highly practical, operational guide to navigating the ongoing complexities of IFRS 16 lease portfolios and ensuring strict compliance. 

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Learning objectives  

Attending this webinar will equip you with the following skills: 

• Gain a clear understanding of the ongoing compliance requirements and common operational pitfalls in lease portfolio management. 

• Understand how to apply practical judgments in lease identification, lease term determination, and incremental borrowing rate calculations. 

• Identify how to account for common real-world lease accounting events, including modifications, impairments, sub-leases, and sale-and-leaseback arrangements. 

• Apply recent amendments to IFRS 16 and relevant IFRIC Agenda Decisions to ensure your financial reporting remains up to date. 

• Mitigate tax compliance risks by understanding the specific income tax, deferred tax, and VAT implications arising from IFRS 16 lease transactions. 

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Content 

The webinar will cover the following topics:  

• Lease identification and scoping  

• Initial recognition and measurement  

• Subsequent measurement  

• Presentation and disclosure  

• Special focus areas  

• Latest amendments and IFRIC Agenda Decisions