With the introduction of IFRS 16 (effective 1 January 2019), in principle, lessees were most affected as they should recognise leases in the statement of financial position by capitalising right of use assets and lease liabilities. The purpose is to ensure visibility of all leases. This enable investors to make better investment decisions.
This short online course has been designed to provide the learner with a basic understanding of the key principles in respect of the accounting for Lease contracts under IFRS 16.
This course also discusses what the accounting for leases under IFRS 16 means from an income tax and value-added tax perspective.
To provide practical relief to lessees in accounting for rent concessions arising as a result of COVID-19 the International Accounting Standards Board (IASB) amended IFRS 16 in ED/2020/2 Covid-19 Related Rent Concessions. The course will briefly discuss this practical expedient.
We also discuss the impact of COVID-19 on the financial reporting of leases and in particular focus on the accounting treatment of rent concessions.
After successfully completing the course, you will receive a certificate of completion (1.5 hours CPD/CPE).
The cost for this Online Training Course is
R474.38 (inclusive of VAT) / R412.50 (exclusive of VAT)