Online course details

Fee

£75 (includes VAT)

Start date

Open now

Course length

2 units, 3 hours of study per unit

CPD hours

6 CPD hours

Mode of study

Self-guided online learning

Location

Online

Online course description

IFRS 16 is an International Financial Reporting Standard (IFRS) for leases developed by the International Accounting Standards Board (IASB) in collaboration with the Financial Accounting Standard Board (FASB) in the United States to provide guidance on accounting for leases.

This standard, which will replace the previous leasing standard (IAS17), was issued in January 2016 and will be effective from 1 January 2019. All companies reporting under IFRS will have to adhere to it by or before 2019. However, those that choose to adopt IFRS 16 early must at the same time adopt the provisions in the new IFRS 15 Revenue from Contracts with Customers standard.

This professional development course provides an overview of the new IFRS 16 standard and the key changes to how leases are accounted for by leasees. It also considers the issues faced by businesses when setting out to implement this new standard.

Who is this course for?

This professional development short course is ideally suited to those who work in the accounting field as well as anyone that teaches or studies financial accounting at A level, Degree or professional level. It will be of particular interest to people in roles such as:

This professional development course will provide you with:

Structure, certificates and assessment

You will study this course 100% online. It comprises a range of activities including:

There is no obligation for you to undertake every activity, but being involved in all aspects of the course will help you to achieve a well-rounded knowledge of the IFRS 16, International Financial Reporting Standard.

There is no graded assessment. Instead, you will receive a badge for each completed Unit, and then upon completion of the whole course, you will be awarded with an e-certificate.

An accredited provider of the CPD Standards Office

We are proud to be an accredited provider of the CPD Standards Office for our online short courses and free courses, demonstrating that they conform to CPD best practice and are appropriate for inclusion in a formal CPD record.

The CPD Standards Office CPD Provider: 60069 logo

Course units

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:

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.

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.

Learning outcomes

Benefits

A flexible course that fits in with working and family life

This compliance training course is open for continuous enrolment, which means it can be studied at any time and delivered 100% online, allowing you to manage your studies around work and family commitments. This is a self-guided course which involves reflective activities to assess subject understanding. Our online short courses are designed to be intellectually stimulating, thought provoking and rewarding.

Course requirements

The course is widely available for anyone to take part in regardless of age, location or education status.

However, there are some basic requirements. You will need access to the internet whether it is on your PC, tablet, mobile or other electronic devices, as well as a valid email address to register with our online learning environment in order to take part in the course.

You will need to agree to the terms and conditions before you start the course which will be available when you enrol.

Learners should have an understanding of the English Language and the ability to study in English.

How to enrol

All of our short courses are delivered through an easy-to-use online learning platform, which you can enrol from directly.

Nagin delivering a CPD presentation

Nagin Lad
Course author

Nagin Lad is the Professional Programmes Lead and in charge of the ACCA Programme. Prior to joining the University he ran his own accountancy practice and has been teaching since 1996 both in the UK and overseas. He was nominated by his students and won the PQ Magazine Public Sector Lecturer of the Year award in 2017.

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