Leasing - IFRS 16 - new approach towards IFRS, taxation and law

Objectives and advantages

The purpose of this training is to familiarize participants with the latest changes in IFRS, tax and legal regulations in the field of leasing. 

• The training has a workshop character: it combines various techniques of trainer presentation with the participants' own work.
• Intensive and practical: each of the rules is richly illustrated with numerical examples.
• Includes recent IFRS changes.
• A comprehensive approach to the topic: discussion of issues in 3 aspects (accounting, legal and tax).
• Classes are conducted by trainers with many years of practical experience.

Programme 

Day 1 - accounting day

• Introduction: reasons for the creation and purpose of IFRS 16
• Basic concepts: definition of a leasing contract, identification of an asset, right to manage use
• Specifying the contract period, leasing fees (fixed and variable), extension options, discount rate
• Separating leasing and other components
• Model based on the right to use - main assumptions
• Accounting for the lessee:
  • initial recognition and valuation as at the reporting date of the right to use and lease liabilities
  • reassessment
  • presentation and disclosure
  • comparison with existing IAS 17
• Accounting for the lessor:
  • recognition of financial and operational leasing agreements
  • comparison with existing IAS 17
  • Other issues: short-term leasing, leaseback and leaseback, sublease
  • Interactions between IFRS 15 - Revenue from contracts with customers and IFRS 16
  • Business consequences
  • Similarities and differences in relation to national regulations

Day 2 - legal and tax day

• Leasing - tax treatment
  • Types of leasing on a tax basis
  • Tax settlement of leasing fees
  • Sale of the subject of leasing after the leasing period
  • Differences in the tax settlement of a leasing contract and a rental or tenancy agreement
  • Leasing agreement based on VAT regulations
  • The most interesting court rulings and tax interpretations regarding the settlement of leasing contracts
  • International leasing - comparison of Polish and European leasing regulations
• Leasing - legal approach
  • Lease agreement in civil law
  • An offer in civil law
  • Preliminary Sales Agreement
  • Preemption

Materials

Participants receive a full package of training materials. Due to the wide context of the issues presented, the materials are not only used in class, but also allow you to return to the topics discussed after the training to repeat and consolidate the acquired knowledge. The materials are richly illustrated with practical examples to better assimilate the issues discussed.

Recording

In addition, we offer the option of purchasing access to a recording from a tax and legal day.

Date and location

16 April 2021 | Warsaw or Online Live

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Contact

Aleksandra Trych | tel. +48 505 171 636 | aleksandra.trych@pl.ey.com

Educational points

CPD (Continuing Professional Development) - our trainings meet the requirements of international professional organizations (ACCA, IIA) regarding the further education of their members.