IFRS 16 Leases IFRS Lectures Finance Lease International Counteracting ACCA Exam default
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- čas přidán 5. 07. 2024
- IN this session, I explain IFRS 16. IFRS 16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months. IFRS 16 closed the loophole which allowed corporations to hide certain assets and liabilities off-balance sheet. The IASB published IFRS 16 Leases in January 2016 with an effective date of 1 January 2019.
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The objective of IFRS 16 is to report information that (a) faithfully represents lease transactions and (b) provides a basis for users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. To meet that objective, a lessee should recognise assets and liabilities arising from a lease.
IFRS 16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognise a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments.
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Wow. Never understood anything in class but here it looks so simple. Thank you for the video!
Happy to help!
This was such a helpful video. I have actually resorted to watching your videos than what I had been provided to me in my class (unnecessarily complicated). Thank you sir, this might even make my career.
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Crystal clear explanation found nowhere else. Kudos🙏🙏🙏👍👍👍
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You are extremely knowledgeable..Thanks a lot for sharing your knowledge
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Very easy to understand.
Thank you Farhat.
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Thank you for sharing this.
Thank you so much sir..You explained it in a simple way..Thank you so much..May god bless you
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Love your channel. Thank you.
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Superb Explanation!
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Excellent professor..!!
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How will the new lease standard affect the deferred tax liability and asset - how do I compute it
Such an Awesome Video.......
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Excellent Mr Farahat, from a CPA.
Kindly, it will be useful to include also in the example a bonus payment by the lessor and a disposal value at the end of the lease period. And to be more like real life , method to calculate the discount rate ,, implicit or incremental borrowing rate .. etc.
Also under IFRS, also they use the term “Right of use asset”.
I might have those scenarios under my intermediate accounting.
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APPRECIATED
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Thank u sir
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Dear Mr farahat in case I didn't pay the payment as contract and there is accrual how it will be tackled in this case
Thank you
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why is int payments financing and not investing in the Cash FLow?
My uni lecturer sucks. I am so happy to find you, I guess we'll be walking together for long. Can we find enough courses for IFRS just like GAAP here ?
If the lessee has not intention to to buy the asset at the end of the period of lease....like a building that, after 10 years of rent, he want it back to lessor........How to proceed at that moment....
with 8%, present valuse of the lease payment is $154,626. Please explain any one about the formula used to reach this figure. I know remaining is interest. Just want to understand the formula to reach $154,626
Its simple annutity formula, where term of contract (n) is 3 years, interest rate is 8%, annual payment (P) is 60000. PV = P x 1-(1+r)^-n / r
Any lectures/videos concerning sale and leaseback under ifrs 16?
All about leases here:
czcams.com/play/PLxP0KZzCGFYPUR3GuCs5zkHfQg09VvmKb.html
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Just a quick recap Farhat:
TIme Stamp 14:37.
For IFRS 16, Lessees will show the following in the Income Statement: Interest & depreciation expense.
& In the BS, they will show "right-of-use" asset which is 154.626K, and a liability of the same amount - correct?
Sir?
Could you please show Journal Entries for Finance & Operating Lease in the books of Lessee & Lessor with same example?
Rahul Sawant czcams.com/video/4Unu0VBplQQ/video.html
Any videos to explain mid year lease, would be helpful sir
Maybe in the future.
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king saad czcams.com/video/4Unu0VBplQQ/video.html
Hi sir, Thank so much, I got confused!, How can I calculate the present value?
Assume that Leasing a Car with this info:
Cash Price $131,050
10% Advance Payment $13,105.00
Agreement 4 Years
Monthly Payment $3,390.93 (Total installments $3,390.93 x 48 Months = $162,764.64 )
I hope it's clear, I want to know the ROU Asset Value?
You need to revisit the time value of money chapter,
czcams.com/play/PLxP0KZzCGFYO1NtpU1NGpelY0XB_VyjcC.html
To calculate the present value you can use the excel formula (PV) with the information you have above such as lease term, payment per year, interest rate.
Can you make video realted Backlog, order entry, pipeline
Hi Anand, I don't believe I cover those topics.
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awesome. please teach how to analyze the financial statements on this issue.
No excel to download?
Budget
Sir please share notes, do you have notes of all ias and ifrs
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Ok
Superb explanation..
But there is a mistake..lease lesser than 12 months are treated as operating lease..please confirm
its not obligatory , you can treat it as finance or operating . whatever you want
😫😫😫 you didn’t touch on things like residual value guarantee because you spend so much time comparing the old and new standards