IFRS 16 Leases summary - applies in 2024
www.cpdbox.com This video is a short summary of IFRS 16. If you need to learn more, please visit our website for great discussion with many practical advices on this standard.
The contents:
00:00 Introduction
00:58 Objective of IFRS 16
01:14 Scope exclusions of IFRS 16
01:31 Optional exemptions
02:29 Does the contract contain the lease?
02:56 Accounting by the lessee: At the commencement
04:52 Accounting by the lessee: After the commencement
06:21 Accounting by the lessor: Classification of the lease
07:26 Accounting by the lessor: Finance lease
08:22 Accounting by the lessor: Operating lease
08:57 Sale & leaseback
This is just the short executive summary of IFRS 16 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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Пікірлер: 46
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I was able to complete my presentation on IFRS 16 with the help of this video! And I was able to get a good score on the presentation. Thank you so much! Also your explaining ability is amazing!
Thank you for your summaries on the accounting standards. They are very helpful.👌🏾
Siliva thank you for sharing the knowledge in your easy way... Well done
That was lovely and you explain so well! I could listen for hours! Thank you!!!
Thank you a lot Ms. Siliva
Good Summary as always. but I’d recommend this to people only when they’ve learnt the material in question firsthand. This info works best as a revision material, especially when it involves standards with some measure of calculation.
@maryamaleshinloye8531
Жыл бұрын
Lovely , educative and interesting
Super explanation. This content is enough to learn about Lease accounting and perform activities. Thank you very much for making this video and it is useful for every one
Thank you for this Presentation. Much appreciated.
Worthy video found at youtube.. Great work ❤
Very helpful pictorial content. Thankyou very much.
Thank you Silvia- I shot videos are very informative and helpful.
Good summary of the standard Silvia
Thank you❤
Thank you for this 😍
thank you ,Very helpful
Awesome Thx for ur effort ❤
this is helpful
that is wonderful
Amazing 😮
Nice to explain it.much appreciated 👍👍
@alamzaib777
Ай бұрын
na kr
What do you do under IFRS 16 subsequent to initial measurement if the lessee pays rent in advance. For example, you pay January's rent the last week of December. It doesn't feel like a prepaid when there is a lease liability. Back under ASC 840 US GAAP, it would have simply been a prepaid asset because there was no lease liability on the books.
At the commencement in lessor’s perspective he will debit lease receivable and credits the PPE, if the PPE’s NBV is less or more than lease receivable amount, there will be an unadjusted difference would be there in the PPE account. How to sort this issue.
What would we do without Silvia.
@muhammadabdulbasit9381
2 жыл бұрын
I would lose my job for sure
@ruthmanu1622
11 ай бұрын
Yesss
What happens if I buy an asset and immediately lease it? How would I registr that in my BS and IS?
How do you create your videos if there is a link where I can learn please share it
Super sir 😅😅😅😮
how about if we buy an asset under installment plan? does it still consider lease?
@therewillbeguitar8078
Жыл бұрын
Financing-based installment with some sort of note payable or paying installments to the owner (while in use) with the intent to transfer title? If the second, it would probably be affected by this rule... seeing how that is pretty similar to a lease. However, I would personally say that buying on installment plans without some sort of creditor is highly unusual.
Thankyou for the Summary. But i know what's the difference between a Lease and Rental Contract
@CPDbox
Жыл бұрын
Often that is the same. Almost all rental contracts meet the definition of a lease, but the lease can be hidden in a differently titled contracts, too.
I don't understand why do we book interest on lease liability? It's not some kind of borrowed amount then why? Can you please explain ?
@CPDbox
2 жыл бұрын
I strongly recommend studying this video or any other video explaining the lease accounting. In fact, when you are taking an asset under the lease, the substance is that you are acquiring that asset (or the right to use it) financed by the loan.
@jango4570
2 жыл бұрын
at 5:50 in video the monthly payment is made, debit Lease liability and credit cash. the monthly payment is made of 2 parts, interest and capital. the interest is a debit to Lease liability and cancels with credit entry made in step 1. the capital reduces the Lease liability.
My question is that.... what about unguaranteed residual value in lessor accounting for NIL? You only mentioned GRV...
@acegamer3101
2 жыл бұрын
Lessor ki accounting k liye ugrv ya grv matter nh krti pv poore ki hi lete hain
Anyone using any IFRS16 accounting softwares ?
My employer paid thousands to Kaplan, I wish I'd have gone for CPD box. I'm not a fan of their online platform
@yourfavoritechannel5498
19 күн бұрын
Thousands of what. Dollars, euro, rupees, pounds
A
Paperbark Ltd enters into a contract with a manufacturer to purchase a particular type, quality and quantity of shirts for a three-year period. The type, quality and quantity of shirts are specified in the contract. The manufacturer has only one factory that can meet the needs of Paperbark Ltd. The manufacturer is unable to supply the shirts from another factory or source the shirts from a third-party supplier. The capacity of the manufacturer’s factory substantially exceeds the output for which Paperbark Ltd has contracted. The manufacturer makes all decisions about the operations of the factory, including the production level at which to run the factory and which customers’ contracts to fulfil with the output of the factory that is not used to fulfil Paperbark Ltd’s contract. Does the contract between Paperbark Ltd and the manufacturer contain a lease in accordance with the provisions of IFRS 16 ‘Leases’?
1:57 Just a feedback for improvement: it is best to say the word "cannot" when explaining, instead of "can't", as it sometimes sound like you are saying "can".