IFRS 15 and 16 - Revenue from contracts with customers and the new leases standard
Member price: £144.50 + VAT
Non-member: £170 + VAT
Please note, the ICAS member discount will be refunded after checkout.
Edinburgh, 27 November 2019
Online Classroom Live course
IFRS 16 is also available as an Online Classroom Live (OCR Live) course - giving you greater flexibility and choice as to how you learn. Our expert presenters will deliver the same course content but it is offered through an online environment, in one 3-hour session.
Price: £170 + VAT
Date: 1 August 2019
View video below to see a five-minute demo of the OCR Live platform.
What you will learn
This course gives an update on two IFRSs:
- IFRS 15 Revenue from Contracts with Customers, and
- IFRS 16 Leases
IFRS 15 came into effect for accounting periods beginning on or after 1 January 2018. Learn how to apply the five-step model and about the possible judgmental areas involved. Also obtain an understanding of the new reporting and disclosure requirements.
IFRS 16 Leases significantly changes the way lessees account for leases. It comes into effect for accounting periods beginning on or after 1 January 2019 and will replace IAS 17 in its entirety. The course will cover the new accounting treatment for lease transactions, practical challenges and the transition methods and exemptions available.
Who should attend
This specialised course is aimed at auditors, finance directors, financial controllers and financial accountants who are dealing with IFRS or preparing for it.
Full speaker list
Our group of presenters have worked across both the private and public sectors within external audit, financial accounting, management accounting and internal audit. They have experience both working in these fields and delivering seminars in the areas of governance, risk, value for money and fraud to managers with a broad range of backgrounds (financial and non-financial).
View full event details
- The core principle of the IFRS and the five key steps required
- Identifying the contract(s) with a customer
- Identifying the performance obligations in the contract
- Determining the transaction price
- Allocating the transaction price to the performance obligations in the contract
- Recognising revenue when (or as) the entity satisfies a performance obligation
- Application guidance and implementation guidance
- The practical challenges and judgmental areas
- Real life examples of the impact of adopting IFRS 15
- Overview of the current accounting (IAS 17 Leases)
- Scope and scope exclusions
- Lessee accounting under the IFRS 16 - Leases
- Key terminology explained
- Differences from current accounting treatment
- Impact on key performance measures
- Potential challenges for preparers and auditors
- Practical considerations for implementation
- Real life examples of the impact of adopting IFRS 16
Tel: 0330 060 3303