Study key International Financial Reporting Standards (IFRS) 16, Leases, used for preparing financial statements in the airline industry, which is effective for annual periods beginning on or after 1 January 2019. Make sure you’re prepared as some airlines are adopting the standard early in 2018.
This two-day course covers the implementation issues faced by airlines, shipping companies or other transportation companies, and is also relevant to other industries. Using case studies, examples and exercises, focused on aircraft, property and airport service contracts, our specialist instructor explains and illustrates all of the important issues.
This course is available at IATA Training Centers, Regional Training Partner locations, and on-demand as in-house training.
This classroom course provides 2 days (16 hours) of instruction delivered by an official IATA Instructor.
Student performance will be based on an assessment
There are no prerequisites for this course
Recommended level is Entry-level and Management
The recommended level of language proficiency is ICAO Operational Level 4 for courses in English or the equivalent level for other languages
- Scope of the standard
- Recognition exemptions for low cost immaterial and short term leases
- Identifying leases in an arrangement
- Initial and subsequent measurement of the ROU Asset and Financial Liability
- Separating components of an arrangement into lease and service agreement
- Lessor accounting review
- Sale and leaseback transactions
- Presentation requirements
- Disclosure requirements
- Transitional provision options
- Exercises including calculations and journal entries
- Application of the standard to complex scenarios
- Case studies on key implementation issues
- Group discussions of complex issues