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IFRS Course


Essentials - A Focus on IFRS 16 Leases (Virtual Classroom)

Course Details

Select a start date for more details
Virtual Classroom
28 Feb 2023
4 Hours
Virtual Classroom
Subject to Online Tax From Web (Read more)
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This online IFRS training is being delivered live in a single 4 hour session which runs from 13:00 – 17:00 London (UK).

You can learn more about our virtual, online courses and how they work on our course FAQ page. Or view our Virtual Classroom schedule to see what else is being delivered live in our online classrooms. If you don’t see the IFRS training topic, you are looking for, or if you would like an online classroom in another time zone, please tell us.

This focus session concentrates on key issues when applying IFRS 16 Leases.

IFRS 16 became mandatory for annual periods beginning on or after 1 January 2019. Lessee accounting was significantly affected by abolishing the distinction between finance and operating leases and the introduction of the right-of-use model. Pragmatically the IASB decided to leave lessor accounting largely unchanged.  

This session reviews critically how IFRS 16 has been applied by reviewing implementation in practice and clarifies how preparers (both lessees and lessors) can improve the quality and usefulness of lease accounting and disclosure.

Another area of focus for this session is the availability of, and whether to apply, the Board’s amendments to IFRS 16 in May 2020 and March 2021, ‘Covid-19-Related Rent Concessions’. These introduced, and extended, a practical expedient to simplify accounting by lessees where rent concessions have been provided as a direct result of the pandemic, The session will set out the qualifying criteria with scenarios to illustrate the expedient’s practical operation.   

Covid-19’s impact on IFRS 16 extended beyond the rent concessions expedient. Other areas affected include assessing the lease term, deriving the lessee’s incremental borrowing rate, accounting for sale and leaseback transactions and disclosure. The session will deal with how to address these issues. 

Learning Objectives

  • Identify whether a contract is, or contains, a lease
  • Exercise judgements to determine the term of a lease and the lessee’s incremental borrowing rate
  • Apply the right-of-use model of lessee accounting
  • Assess the effect of the IFRS Interpretations Committee’s Agenda Decisions on lease accounting
  • Learn how to apply the Covid-19 Rent Concessions amendment to IFRS 16
  • Improve the quality of disclosure

Who Should Attend

  • Accountants in finance and reporting teams that prepare IFRS financial statements
  • External and internal auditors
  • Financial and credit analysts seeking to improve their understanding of IFRS lease accounting
  • Accounting regulators and enforcement bodies


  • Overview of IFRS 16
    • Definition of a lease
    • Determining the lease term
  • Lessee accounting
    • Practical expedients available
    • Recognition exemptions – short-term leases and low value assets
    • Right-of-use model
      • Determining discount rates, including incremental borrowing rate
      • Initial measurement of lease liabilities and right-of-use assets
      • Reassessment of lease liabilities, including lease modifications
      • Covid-19-Related Rent Concessions amendment
  • Sale and leaseback transactions
    • Accounting by lessees and lessors
    • ED/2020/4 Lease Liability in a Sale and Leaseback
  • Lessor accounting
    • Finance and operating leases
    • Lease modifications
  • Disclosure
    • Improving the quality

Teaching Method

  • Live group internet instruction in virtual format by specialist instructor
  • Description and explanation of IFRS 16 requirements in clear and simple language
  • Use of case studies and real-world examples to illustrate practical application
  • Interactive participation is encouraged, with all attendees being required to be present on camera for the duration of the session.
  • All participants receive comprehensive electronic course notes, including presentation slides and handouts
  • This virtual training is being delivered live and online in a session which runs from 13:00 – 17:00 London (UK).


The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.


Our seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


Field of study: Accounting


Basic understanding of accounting under IFRS or any national standards. No advance preparation is required for this course.