Accounting for Leases | Understanding IFRS 16 and Lease Accounting Part 1

In this video, we explore Accounting for Leases under IFRS 16, covering everything you need to know about lease accounting principles. Whether you're an accountant, financial analyst, or student, this video will help you understand the key concepts and practices involved in lease accounting.

We cover:

1) The definition of a lease and its implications on financial statements.
2) Key differences between finance leases and operating leases.
3) How to account for leases on the balance sheet under IFRS 16, including right-of-use assets and lease liabilities.
4) The impact of lease accounting on cash flow statements and profit and loss accounts.
5) Lease recognition, measurement, and valuation processes, along with practical examples.
6) Changes to lease accounting with IFRS 16 compared to previous standards.
7) How to calculate the lease term and discount rate in lease accounting.

We also discuss the tax implications, lease modifications, and disclosures required under IFRS 16.

This video provides a comprehensive guide to understanding lease accounting principles and how to properly implement them in your financial reporting.

📅 Stay tuned for regular episodes featuring industry experts, thought leaders, and finance professionals. Whether you're looking to expand your knowledge or stay ahead in the industry, this series is for you!

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