Description
About the product FREQUENTLY BOUGHT
Ind AS 116 – Leases brings about a tremendous change in lease accounting for more than three decades. It has affected most companies reporting under Ind AS and will have a major impact on the financial statements of lessees of property and high-value equipment. The objective is to ensure that lessees and lessors provide relevant information in a manner that gives a basis for users to assess the effect that leases have on Balance Sheet, Profit or Loss and Cash flows of the entity.
This comprehensive e-lecture contains a thorough explanation of each and every topic set out in this Standard. It will give you the full-fledged knowledge, training, and implementation skills necessary in today’s global business environment. It also aims to provide a robust guidance on identification, recognition, measurement, presentation and reporting needs of lease accounting. This video session addresses both the lessee and lessor accounting models, which are assisted by numerical worked problems, real-life examples and helpful illustrations to ensure complete understanding of Ind AS 116.
What you will learn from the video lecture:
- Economics of a lease
- Difference between a lessor and lessee
- Lease payments
- Objective of this standard
- Recognition for a lessor and lessee
- Right-of-use asset
- Lease liability
- Net investment in the lease
- Lease receipts
- Measurement process
- Presentation
- Importance of disclosures
- Types of leases
- Variety of risks and rewards
- Combination of contracts
- Separating components of a contract
- Recognition exemptions
- Short-term leases
- Underlying asset is of low value
- New lease for a short-term lease
- Identified asset
- Substantive substitution rights
- Portion of assets
- Economic benefits
- Right to direct use of identified asset
- How and for what purpose the asset is used
- Protective rights
- Assessment of whether a contract is, or contains, a lease
- Separating components of a contract for a lessee and lessor
- Worked Example – Initial measurement of lease liability
- Lease term
- Lessee: Recognition and measurement
- Initial Recognition of Lease Liability and Right-of-use Asset
- Worked Example – How to account for in-substance fixed payments and effect in PL
- Worked Example – Calculate right-of-use asset
- Treatment of variable lease payments
- Subsequent measurement
- Worked Example 4
- Reassessment of the lease liability
- Lease modifications
- Worked Example 5 – Accounting for increases in lease term
- Worked Example 6 – Accounting for lease modifications when there is increase in scope
- Lessor: Lease classification
- Finance leases: Recognition and measurement
- Initial measurement of the lease payments included in the net investment in the lease
- Worked Example 7 – Finance lease
- Manufacturer or dealer lessors
- Worked Example 8
- Worked Example 9
- Accounting for finance lease modifications by a lessor
- Operating leases
- Lease modifications of an operating lease
- Worked Example 10
- Sublease classification
- Sale and leaseback transactions including latest amendment NEW
- Transfer of the asset is a sale
- Worked Example 11
- Accounting for potential adjustments
- Worked Example 12
- Transfer of the asset is not a sale
Additional features:
Session type – Extensive deliberation on Ind AS 116 with maximum use of practical examples and engaging illustrations
On-Demand Access – Enjoy flexibility of accessing e-lecture anytime, anywhere, at your own pace, fitting seamlessly into your busy schedule
Unlimited Views – There is no restriction to the number of views
Study material – You will receive a soft copy of the presentation slides and a handout of numerical worked examples
Support – Clarification of queries is also offered via digital communication for 1 year from the date of purchase
Abhinav Kishan (verified owner) –
Amazing video with clear explanation and lot of examples. Made me understand lease standard in a new and great way
Rajesh Maddan (verified owner) –
sincerely find this lecture to be of a great help in furthering my lease accounting knowledge