The course is made up of 2 units, each will require approximately 3 hours of study.
The content of unit is guided by professionally recognised theory and evidence:
Unit 1 – Introduction to the changes to how leases are accounted for and the impact on the financial statements.
In this unit, you will look at the classification requirements in accordance with IFRS 16 and will explore key concepts for example a lease, right of use, lease term and lease payment. This unit also covers current classes of lease contracts and ways of identifying whether a contract is a lease contract or service contract.
Unit 2 – Exploration of issues arising from the introduction of IFRS 16.
This unit pays close attention to recognising and measuring basic lease arrangements for lessee’s and compares the impact on the financial statements under the existing standard and the new standard.