AASB 16 is here!

With AASB 16 being 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 standard.

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.

About The Masterclass

This hands-on masterclass, run by BDO’s IFRS Advisory experts, 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
• The initial calculation of the lease liability and the related interest expense efficiently
• The initial calculation of the ROU asset and the related depreciation expenses efficiently
• The ongoing remeasuring 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
• 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.