Leases - IFRS 16
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Leases - IFRS 16

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courseType Technical Skills, Financial Sector

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Leases - IFRS 16

OPEN20 Nov 2019 09:00 - 13:00 650.00 €

OPEN18 Jun 2020 09:00 - 13:00 650.00 €



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Cofinancement de la formation: les nouvelles dispositions législatives 2018

Pour plus d'informations veuillez consulter notre article.

Ou directement : Lifelonglearning​​

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General course details

Introduction

This new standard on Leasing is addressed to all companies that have/are entering in leasing agreements. Ensuring compliance with the new requirements is mandatory starting with 1 January 2019.

Mostly impacted will be the lessees with operating leases under current standard. The new accounting treatment could affect a number of areas:

  • Significant impact on a range of key metrics monitored by stakeholders, like EBITDA, EPS, net assets, gearing ratios
  • Debt covenants – ratios might need to be renegotiated.
  • Share-based payments– performance metrics might need renegotiation.
  • Dividend policy – the revised profile of the profit or loss expense might affect the ability to pay dividends.
  • Lease negotiations – although accounting should not be the key driver in commercial negotiations, market behaviour might change towards shorter lease tenures to minimize lease liabilities.  

Objectives

At the end of this session, participants will be able to:

  • Understand the new business perspective and the main changes brought by the new Standard IFRS 16
  • Determine how these changes affect not only the accounting systems, but also their business model and relationships
  • Identify the main differences between leasing and other service contracts
  • List the main elements a lessee has to consider in recording/ accounting for a lease contract
  • Understand what are the exemptions and the impacts in taking advantage of them
  • Identify what are the steps to be further taken to get ready on time for the challenges and opportunities brought IFRS 16  

Content

  • Scope of the Standard
  • New definition of leasing and how I correctly identify a leasing contract
  • Accounting model for lessee
  • Insights to approach more complex areas
  • Available exemptions
  • Timeline and options for implementation

Our Lead Expert

This training is coordinated by Marc Minet, head partner of IFRS Learning Solutions of PwC Luxembourg. The training will be animated by partners, directors, senior managers or managers of PwC Luxembourg daily involved in the implementation of the IFRS norms.

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Marc Minet is the IFRS leader for PwC Luxembourg and is partner in the Assurance Practice. He has over 19 years experience in serving financial and multinational institutions providing audit and advisory services. From 2004 to 2006, Marc Minet was part of the PwC Global Accounting and Consulting Services (GACS) central team in London as a partner specialised in accounting for financial instruments under IFRS.
 Back to Luxembourg, he continues to audit and advise groups reporting under IFRS. His experience includes the audit of listed international groups preparing consolidated financial statements under IFRS, capital market transactions (IPO, bond offerings), IFRS conversions, accounting advices and training solutions.
 He is member of several PwC International IFRS working groups: GACS, Financial Instruments Topical Team (FITT), Corporate Treasury Technical Committee (CTTC) and Asset Management International Accounting Group (AM IAG).
 Marc Minet graduated from HEC-University of Liège-Belgium. He is a qualified “Réviseur d’entreprises agréé” and “Expert Comptable” in Luxembourg. Since 2004, Marc Minet has been teaching courses on IFRS and he is an author or co-author of various publications about IFRS, including the PwC Manual of Accounting.

Target audience

Our training will include a summary of the main changes brought by IFRS 16 and examples, as well as highlights on key matters that any professional should know and consider in the view of a successful implementation.   

This session is aimed for accounting and audit profession, business developers…. that have exposure to in setting up and accounting for leasing agreements/ operations.

Practical information

  • Language: English. Available in French upon request.
  • Duration: 4 hours
  • Number of participants: limited to 20, in order to guarantee maximum interactivity


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