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IFRS 16 Leases Training Course is a comprehensive and practical professional programme designed to equip accounting, finance, audit, financial reporting, treasury, tax, procurement, and corporate management professionals with the knowledge and practical skills required to apply International Financial Reporting Standard 16 (IFRS 16) Leases. The course provides an in-depth understanding of the IFRS 16 lease accounting framework, recognition and measurement requirements, lessee accounting, lessor accounting, lease identification, lease classification, right-of-use assets, lease liabilities, discount rates, lease modifications, and financial statement presentation and disclosure. Participants will develop practical competencies for managing lease portfolios and ensuring accurate, consistent, and compliant lease accounting.
The programme examines the fundamental principles of IFRS 16 and the requirement for lessees to recognize most leases on the statement of financial position through a right-of-use asset and corresponding lease liability, subject to applicable recognition exemptions. Participants will explore how to identify whether an arrangement contains a lease, determine the lease term, assess options to extend or terminate leases, identify lease and non-lease components, determine payments included in lease measurement, and select appropriate discount rates. The training also addresses short-term leases, leases of low-value assets, variable lease payments, residual value guarantees, initial direct costs, restoration obligations, and lease incentives.
A major focus of the programme is the practical measurement and subsequent accounting of right-of-use assets and lease liabilities. Participants will learn how to calculate the initial lease liability, apply the incremental borrowing rate and implicit interest rate, calculate depreciation and interest expense, account for lease modifications and reassessments, and evaluate the impact of lease accounting on profit or loss, cash flows, financial position, and key financial ratios. The course also examines lessor accounting, finance leases, operating leases, sale-and-leaseback transactions, subleases, portfolio approaches, foreign currency considerations, and complex contractual arrangements. Practical exercises and general case studies will enable participants to apply IFRS 16 requirements to real-world leasing scenarios.
By the end of the training, participants will be able to identify leases, apply IFRS 16 recognition and measurement requirements, calculate right-of-use assets and lease liabilities, account for lease modifications, prepare financial statement disclosures, and establish effective lease accounting policies and controls. The programme is suitable for organizations seeking to strengthen IFRS compliance, improve lease data management, enhance financial reporting accuracy, reduce lease accounting risks, and improve audit readiness. The training can be customized for organizations with large property, vehicle, equipment, infrastructure, office, warehouse, technology, or other lease portfolios and can be aligned with their accounting systems, ERP platforms, lease management systems, and reporting requirements.
1. Understand the scope, objectives, principles, and key requirements of IFRS 16 Leases.
2. Identify leases and distinguish lease arrangements from service and other contractual arrangements.
3. Apply IFRS 16 recognition and measurement requirements for lessees and lessors.
4. Calculate initial and subsequent measurement of right-of-use assets and lease liabilities.
5. Determine appropriate lease terms, lease payments, discount rates, and applicable recognition exemptions.
6. Account for lease modifications, reassessments, variable payments, lease incentives, and other complex lease transactions.
7. Apply IFRS 16 requirements to finance leases, operating leases, subleases, and sale-and-leaseback transactions.
8. Evaluate the impact of lease accounting on financial statements, cash flows, profitability, leverage, and financial ratios.
9. Prepare IFRS 16 financial statement disclosures and strengthen lease accounting controls and documentation.
10. Develop practical organizational strategies for IFRS 16 implementation, lease portfolio management, compliance, and continuous monitoring.
1. Strengthens organizational compliance with IFRS 16 Leases requirements.
2. Improves the accuracy and completeness of lease identification, measurement, and financial reporting.
3. Enhances management of right-of-use assets and lease liabilities across the organization.
4. Reduces risks associated with incomplete lease data and inappropriate lease accounting.
5. Improves financial statement transparency and the quality of lease-related disclosures.
6. Strengthens internal controls over lease contracts, payments, modifications, and accounting records.
7. Enhances audit readiness and reduces the risk of IFRS 16 audit findings.
8. Improves forecasting and financial planning by providing better visibility of lease obligations and expenses.
9. Supports more effective integration between finance, procurement, legal, operations, property, treasury, and asset management functions.
10. Builds sustainable organizational capacity for IFRS 16 implementation, lease portfolio management, reporting, and compliance.
The course is designed for Chief Financial Officers (CFOs), Finance Directors, Financial Controllers, Chief Accountants, Senior Accountants, Management Accountants, Financial Reporting Managers, IFRS Specialists, Financial Analysts, Internal Auditors, External Auditors, Audit Managers, Treasury Managers, Tax Professionals, Procurement Managers, Contract Managers, Property and Facilities Managers, Asset Managers, Risk and Compliance Officers, ERP and accounting systems specialists, financial consultants, and professionals responsible for lease management, financial reporting, accounting, contract administration, auditing, and IFRS compliance.
1. Introduction to IFRS 16 Leases, scope, objectives, key principles, terminology, and relationship with other IFRS Accounting Standards.
2. Definition of a lease, identified assets, right to control use, economic benefits, and decision-making rights.
3. Identifying leases within contracts and distinguishing lease arrangements from service and outsourcing contracts.
4. Lease and non-lease components, practical expedients, portfolio approaches, and contract assessment.
5. Lease term determination, commencement date, renewal options, termination options, and enforceability considerations.
6. General Case Study: Reviewing property, vehicle, equipment, and service contracts to determine which arrangements contain leases under IFRS 16.
1. Lessee accounting model, recognition of right-of-use assets and lease liabilities, and applicable recognition exemptions.
2. Short-term lease and low-value asset exemptions and their practical application.
3. Initial measurement of lease liabilities, lease payments, discounting, and present value calculations.
4. Determining the incremental borrowing rate, interest rate implicit in the lease, and appropriate discount rate.
5. Initial measurement of right-of-use assets, initial direct costs, lease incentives, prepayments, and restoration obligations.
6. General Case Study: Calculating the initial right-of-use asset and lease liability for a five-year office lease with renewal options, incentives, and initial direct costs.
1. Subsequent measurement of lease liabilities using the effective interest method and recognition of interest expense.
2. Subsequent measurement of right-of-use assets, depreciation, impairment, and changes in carrying amounts.
3. Variable lease payments, residual value guarantees, index-linked payments, and other lease payment adjustments.
4. Lease reassessment, changes in lease terms, changes in assessment of options, and accounting consequences.
5. Impact of IFRS 16 on profit or loss, statement of financial position, cash flows, EBITDA, leverage, and financial ratios.
6. General Case Study: Preparing a multi-year IFRS 16 lease accounting schedule showing depreciation, interest expense, lease liability movements, and right-of-use asset balances.
1. Identifying and accounting for lease modifications, separate leases, partial termination, and changes in scope.
2. Re-measurement of lease liabilities and corresponding adjustments to right-of-use assets following lease modifications.
3. Accounting for changes in lease payments, extension options, termination options, and revised discount rates.
4. Subleases, intermediate lessors, classification of subleases, and accounting treatment under IFRS 16.
5. Complex lease arrangements involving foreign currency, variable payments, restoration obligations, and embedded leases.
6. General Case Study: Accounting for a modified property lease involving an extension, revised rental payments, and a change in the leased floor area.
1. Lessor accounting principles and classification of leases as finance leases or operating leases.
2. Finance lease recognition, net investment in the lease, interest income, and lease payment allocation.
3. Operating lease accounting, lease income recognition, incentives, and lessor disclosures.
4. Sale-and-leaseback transactions, transfer of control, seller-lessee accounting, and accounting consequences.
5. IFRS 16 financial statement presentation, disclosure requirements, accounting policies, and significant judgments.
6. General Case Study: Evaluating a sale-and-leaseback transaction involving commercial property and determining whether the transaction qualifies as a sale under applicable IFRS requirements.
1. Developing an IFRS 16 implementation strategy, governance framework, responsibilities, timelines, and implementation controls.
2. Lease data management, contract inventories, lease registers, documentation, data quality, and reconciliation procedures.
3. Integrating IFRS 16 with ERP systems, accounting software, lease management platforms, procurement systems, and financial reporting processes.
4. Designing internal controls for lease identification, approvals, calculations, modifications, payments, reconciliations, and disclosures.
5. IFRS 16 audit readiness, compliance monitoring, financial reporting review, implementation challenges, and continuous improvement.
6. General Case Study: Developing an end-to-end IFRS 16 lease management and reporting framework for an organization with property, vehicle, equipment, and technology leases across multiple locations.
1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, flight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.