The talk will concentrate on the key issues emerging from the first year of adoption of the new rules. In particular it will concentrate on the following topics:

•    The distinction between a lease and a service contract 
•    The exemptions for low value and short term leases
•    The double entry bookkeeping required when setting up a lease
•    The transitional requirements on first implementation
•    The problems when leases are reassessed or modified
•    The presentation and disclosure required for both right of use assets and lease liabilities
•    The accounting treatment of sale and leasebacks
•    A very brief summary of lessor accounting
•    The link between the new leasing rules and PPP arrangements (i.e. PFI contracts).

In addition, the talk will finish with a very brief discussion of other changes in public sector accounting including the valuation of non investment assets and the forthcoming changes from IFRS 18 Presentation and disclosure in financial statements.

About Professor Robert Kirk
Robert specialises in the teaching of and research into the development of accounting standards in the United Kingdom. He has published 18 books and numerous articles in both  academic and professional journals. 

He has lectured extensively within Ireland and Great Britain on the subject of accounting standards to a diverse range of organisations.

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This event is free but registration is required. A recording will be made available to all those who have booked this webinar. 

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 Key Webinar Details:

Date: Tuesday 14 January 2025

Time: 12:30 PM - 2:00 PM (1 hour 30 minutes)

Venue: Online, Webinar
CPD: 1.5 Hours