Accounting: IFRS 16 Leases
IFRS 16 is an International Financial Reporting Standard (IFRS), effective for accounting periods beginning on or after the 1st of January 2019, and replaces IAS 17 Leases. The main impact of IFRS 16 is on lessee accounting. In this pathway Saket walks us through the biggest changes bought in with IFRS 16 and certain implementation issues.
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9 videos • 44 minutes
IFRS 16 Lessee Presentation
In this video, Saket outlines the impact of IFRS 16 on the balance sheet. He provides two examples; one explaining the application of the definition of lease in IFRS 16, the other demonstrates a situation where the contract fails to meet the definition of a lease.
Saket Modi • 09:57
IFRS 16 Lessor Presentation
In this second part of the series, Saket describes the terms by which an asset is leased and outlines an example.
Saket Modi • 05:28
IFRS 16 Lease Classification
In the third part of this series, Saket provides an example to explain the application of the definition of lease in IFRS 16. It includes consideration of substantive vs protective rights in determining whether a contract is a lease.
Saket Modi • 04:51
IFRS 16 Exemptions
In the final part of this series on IFRS 16, Saket provides examples to convey which lease contracts can qualify as being considered short-term.
Saket Modi • 03:56
IFRS 16 Background
The main impact of IFRS 16 Leases is on lessee accounting. Saket explains the extent of this impact in terms of comparing it to IAS 17 Leases, the accounting model and the performance metrics.
Saket Modi • 02:51
IFRS 16 Overview
In this video, Saket discusses what a lease is, services components that may accompany a lease, optional exemptions and sale and leaseback transactions. Be sure to watch part II of this series in which Saket further explains IFRS 16 leases.
Saket Modi • 08:56
IFRS 16 Measurement of a Lease
In IFRS 16 Leases Part I, Saket Modi explained what a lease was, service components that may accompany a lease, optional exemptions and leaseback transactions. In part II of this series, Modi will explain measurements of a right-of-use asset, lessor accounting, and how to measure lease liability.
Saket Modi • 06:24
IFRS 16 Discount Rates
In this video, Saket covers IFRS 16 discount rates, specifically the rate implicit in the lease and the incremental borrowing rate.
Saket Modi • 01:04
IFRS 16 Lease Term
The lease term is the non-cancellable period. In this video, Saket outlines different circumstances which may affect the original estimated lease period.
Saket Modi • 01:04
