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.
Watch all the videos and pass the test to obtain a certificate showing your completion of this Pathway. Certificates can be shared directly to your LinkedIn profile and social media accounts.
9 videos • 44 minutes
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
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
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