THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
IFRS 16- Leases – Recording
Date: 4th November 2021
IFRS 16 provides guidance on accounting for leases which includes how to recognize, measure, present and disclose. IFRS 16 was issued in January 2016, and it was effective for annual periods beginning on or after 1 January 2019. In the issued standard accounting for lessors remained unchanged however Lessee accounting saw introduction of the right-of-use model.
This seminar will provide an opportunity for attendees to acquire more knowledge on the requirements of the standard. The webinar has been designed to focus on the following key topics:
• Overview of IFRS 16
• Lessee accounting
o Practical expedients available
o Recognition exemptions – short-term leases and low value assets
o Right-of-use model
Determining discount rates, including incremental borrowing rate
Initial measurement of lease liabilities and right-of-use assets
Reassessment of lease liabilities, including lease modifications
Covid-19-Related Rent Concessions amendment
• Sale and leaseback transactions
• Lessor accounting
o Impact of Covid-19 on IFRS 16
o Covid 19 rent concession
Accounting and finance professionals, finance managers, finance directors, managers, senior operations staff, auditors and compliance officers, consultants and auditors
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 2 Structured CPD Units upon successfully completion of the Webinar.
The Webinar charges are Kshs. 1,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
Further requests can be channeled to us via telephone calls on +254 719 074 000, (+254) 733 856262 or via email to firstname.lastname@example.org.
We encourage members to regularly visit our website https://www.icpak.com for updates.