AASB 16 Masterclasses

With AASB 16 applicable from 1 July 2019 for most Australian entities, it is time that finance teams move from the high level theory to a comprehensive understanding of how to apply the new leases standard, AASB 16 Leases.

Most finance teams are on top of the big picture story of AASB 16. However, very few finance teams have come to terms with the practicalities of its application, and how the new lease accounting model will change key financial metrics and KPIs and introduce volatility to the balance sheet and profit or loss due to continual re-measurement requirements.

For $399 (excl. GST), this hands-on masterclass will have you ready to adopt AASB 16. Run by BDO’s IFRS Advisory experts, it will assist you in preparing the journals for adoption of AASB 16. Through the use of a practical case study, attendees will leave the day with an in-depth knowledge of:

  • Identifying a lease within a contract
  • How to perform the initial calculation of the lease liability and the related interest expense efficiently
  • How to perform the initial calculation of the ROU asset and the related depreciation expenses efficiently
  • The ongoing remeasurements required to the lease liability and ROU asset as a result of:
    • CPI increases
    • Market reviews
    • Changes to the lease term due to various options
  • The ongoing modification of the lease liability and the ROU asset
  • Transition issues
    • What to do with legacy onerous lease liabilities
    • What to do with legacy lease accruals, lease prepayments, leasehold improvements and various lease incentives
    • Three different transitional options, and
  • Understanding the differences between IFRS and US GAAP.

Who should attend?

Chief Financial Officers, Financial Controllers, Finance Managers, Accountants, Auditors and those involved in any aspects of financial or corporate reporting.

This publication has been carefully prepared, but is general commentary only. This publication is not legal or financial advice and should not be relied upon as such. The information in this publication is subject to change at any time and therefore we give no assurance or warranty that the information is current when read. The publication cannot be relied upon to cover any specific situation and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact the BDO member firms in Australia to discuss these matters in the context of your particular circumstances.

BDO Australia Ltd and each BDO member firm in Australia, their partners and/or directors, employees and agents do not give any warranty as to the accuracy, reliability or completeness of information contained in this article nor do they accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it, except in so far as any liability under statute cannot be excluded. Read full Disclaimer.