About this course
Non-current assets can be owned or rented. According to IFRS 16 the accounting model for lessee and lessor is not symmetrical. Lessees have to recognise lease liability and right-of-use asset for almost all lease contracts, while for lessors the accounting model depends on the classification of a lease as operating or finance lease.
This course helps you understand the definition of a lease, explains what period shall be considered as lease term, explains recognition and measurement exemptions, after which details the lessee’s as well as the lessor’s accounting using practical examples and interim tests.
By completing this course, you will understand:
- the features of a contract which indicate that the contract contains a lease (substitution right, protective rights)
- transaction price allocation rules when separating components of a contract
- the concept of variable payments in a contract
- criteria for recognition and measurement exemptions
- how to identify the lease term
- lessee and lessor accounting.
Key information
- Designed for finance and accounting experts who are familiar with fundamental (local) accounting and reporting processes.
- CPD certificate is available upon successful completion of the course.
- Part of an e-learning series developed by PwC Academy.
