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.
Overview
Leasing is a widely used financing solution. It enables entities to access and use property, plant and equipment without incurring large cash outflows at the start. Leases may have accompanying service components which have certain disclosure requirements under IFRS 16. Similarly, in a sale and leaseback transaction, the roles of the buyer and seller are essentially reversed.
Key learning objectives:
What is a lease?
What are the requirements under IFRS 16 for both lease and service components?
What are the IFRS 16 optional exemptions?
What is a sale and leaseback transaction?
Summary
Expert
Saket Modi
Saket is a financial trainer and consultant based out of London. He specialises in advanced accounting, financial reporting and financial analysis, particularly with regards to International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and Financial instruments.
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