F1 overview - financial statements - part 2
Taught by James Griffiths · AI tutor support included
This lesson provides a comprehensive examination of IFRS 16 lease accounting from a lessee's perspective, covering the recognition and measurement of lease liabilities and right-of-use assets. Students will understand how to identify lease agreements, apply initial recognition principles, and perform practical calculations using real-world examples.
This lesson is part of a paid course
Buy the course to unlock every video lesson and the AI Tutor, plus mock exams with feedback on CIMA courses.
Already bought? Sign in
Ask the AI tutor anything about this lesson
It knows every lesson in the course — explanations, clarifications, practice questions.
In this lesson
- 0:00 Introduction to IFRS 16 Leases
- 0:20 Basic Definitions and Lease Agreement Explained
- 1:22 Lessee and Lessor Definitions
- 2:28 Understanding Lease Term
- 3:23 Initial Recognition and Lease Liability
- 4:27 Recording Rights of Use Asset
- 5:47 Illustrative Example: Mary's Lease Agreement
- 9:08 Conclusion on Lessee Accounting for Leases
About this lesson
Dive into the intricacies of IFRS 16 with a focused look on lessee accounting, breaking down lease agreements, terms, and the initial recognition of assets and liabilities. This video unpacks the essentials of accounting for leases, providing clear examples and explaining the calculation of lease liability and right of use assets. Ideal for professionals and students, it offers a solid foundation in understanding how leases impact financial statements. Watch to enhance your proficiency in navigating the complexities of lease accounting.
Duration: 9m
- IFRS 16 Leases standard overview
- Lease agreement definitions and terms
- Lessee accounting treatment
- Initial recognition of lease liability
- Right-of-use asset calculation
- Lease term determination
Transcript
Every lesson comes with a full searchable transcript - included with the course.
Get the F1 Objective Test course
All 71 video lessons, timed mock exams marked instantly with an explanation for every question, an AI Tutor in every lesson and lifetime access.
Already bought? Sign in