Common Errors in Applying AASB 16 Leases
Overview
What you'll take away.
Lease accounting continues to create headaches for finance teams. We will discuss the practical difficulties and demonstrate a solution
Are you involved in lease accounting management? Join this session as we discuss the challenges and complexities of applying lease accounting as required by IFRS 16/AASB 16. This session will focus on:
- Why entities should be updating their incremental borrowing rates;
- How to determine the appropriate lease term;
- Accounting considerations for termination of leases;
- Handling lease reassessments and lease modifications;
- Accounting for make-good provisions;
- Navigating complexities around accounting for holdover leases; and
- Accounting implications of sale and leaseback transactions.
Learning Outcomes:
This session aims to provide attendees with the ability to:
- Identify leases as defined in IFRS 16/AASB 16;
- Determine the appropriate lease term;
- Recognise new leases;
- Account for terminated leases;
- Account for lease reassessments and modifications;
- Accounting for make-good provisions; and
- Account for sale and leaseback transactions.
Suited to:
Auditors, CEOs, CFOs, Board Members, Financial Controllers, Finance Teams, Accountants involved in the preparation of financial reports.
This On Demand recording Includes:
- Recording of the Live Webinar, which can be viewed multiple times, for as long as required
- Presenters contact details for follow up questions
- CPD Quiz
- CPD Certificate
- CPD Report – Logged automatically
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
Course syllabus
3 lessons
- Video – Common Errors in Applying AASB 16 LeasesVideo
- Feedback Survey QuestionsSurvey
- Knowledge QuizTest
Your presenter
Aletta BoshoffBDO Australia
, Advisory Partner, National Leader, IFRS & Corporate Reporting, National Leader, Sustainability Reporting, BDO Australia
Aletta is an Advisory Partner and National Leader of IFRS & Corporate Reporting, as well as the National Leader of Sustainability & ESG, at BDO in Australia. Aletta has over 30 years’ experience in financial reporting and accounting, including IFRS. Aletta has lectured on financial accounting and reporting at various Australian and South African universities. As an Associate Professor, she authored various financial reporting and accounting textbooks. Aletta also spent a number of years as a Project Manager at the Australian Accounting Standards Board (AASB).
Aletta prides herself on her technical excellence, approachability, and the ability to solve problems practically. In particular, Aletta takes great pride in her ability to apply a wealth of technical expertise to real-world business situations. Having worked with a range of clients in both the for-profit and not-for-profit sectors, Aletta understands the challenges Boards and finance teams face.
Aletta’s involvement in sustainability and Environmental, Social and Governance (ESG) is a consequence of her focus on an organisation’s ability to create and sustain long-term value in a rapidly changing world, and managing the risks and opportunities associated with these changes.
Fahad Ahmed, Advisory Manager, IFRS & Corporate Reporting, BDO Australia
Fahad is IFRS expert with a specific focus on IFRS 16 and AASB 16. Fahad assists clients in implementing and applying lease accounting reporting requirements, including troubleshooting technical queries on IFRS 16/AASB 16. Fahad also assist clients regarding the use of BDO Lead, BDO’s IFRS 16/AASB 16 technology solution. Fahad and his team also provides outsourced Lease Management and Services, which also includes accounting for their make-good provisions.