23. June 2020 - 19:00 till 23:00
BDO Australia, Brisbane
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Brisbane IFRS Virtual Masterclass AASB 16 Leases | Tuesday, 23. June 2020

Most finance teams are on top of the big picture story of AASB 16. However, very few finance teams have come to terms with the practicalities of its application; such as how the new lease accounting model introduces volatility to the financial statements due to continual re-measurement requirements, and how the transition method adopted can significantly affect financial key financial metrics and KPIs for years to come.

This hands-on masterclass will have you ready to adopt AASB 16.

Presented by BDO’s IFRS Advisory experts, it will assist you to understand the approach to follow when your organisation is preparing its transition plan to adopt AASB 16, right up to calculating and preparing the journals for adoption.

Through the use of a practical case study, attendees will leave the day with an in-depth knowledge of:

• Identifying a lease within a contract,

• How to perform the initial calculation of the lease liability and the related interest expense efficiently,

• How to perform the initial calculation of the ROU asset and the related depreciation expenses efficiently,

• The ongoing remeasurements required to the lease liability and ROU asset as a result of:

• CPI increases,

• Market reviews,

• Changes to the lease term due to various options,

• The ongoing modification of the lease liability and the ROU asset,

• Transition issues:

• Three different transitional options and their effect on performance measures and KPIs,

• What to do with legacy onerous lease liabilities,

• What to do with legacy lease accruals, lease prepayments, leasehold improvements and various lease incentives, and

• Considerations when choosing a software solution.