FRS 116 (IFRS 16) Leases, effective 1 Jan 2019, dramatically changed how lessees account for leases. Although preparers and users have become familiar with applying FRS116, there are still numerous challenges faced when applying the standard.
Through a case study on property lease, this workshop e will examine the recognition, measurement, presentation and disclosure requirements of FRS 116 and focus on the subsequent guidance from the IASB and IFRIC, as well as look at practice for issues that remain unclear.
At the end of the session, participants will be able to
- Understand the requirements in FRS 116 regarding lease recognition, measurement, and disclosure;
- Apply FRS116 to real-world leases through journal entries and calculations;
- Analyse lease modifications, subleases, and sale-leaseback transactions; and
- Evaluate the impact of assumption changes;
Describe the differences in accounting treatment in FRS 116 and US GAAP
Programme Outline
Overview of FRS 116
- Core principles, scope, and definitions
- Recognition, measurement, presentation, and disclosure
Case Study: Property Lease
- Lease term determination
- Measuring lease liability and ROU asset
- Calculating depreciation and interest
- Remeasurement due to assumption changes
- Journal entries
US GAAP Comparison
- Differences in balance sheet, income statement, and cash flows
- Impacts to analysts and preparers
Complex Post-Implementation Issues
- Free rent, lease modifications, VAT/GST
- Subleases, restoration costs, mutual options
- Sale and leaseback treatment
- Leasehold improvements and depreciation
Training Methodology*
Lecture style, with Case Studies
Closing Date for Registration*
3 days before course start date
Intended For
An Intermediate level programme intended for both Practising and Non-Practising Accountants and Auditors.
Competency Mapping
Category 1 = 7.00 Hours
Schedule & Fees
Date & Time
29 Aug 2025 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
SGD pricing -
For Members:
$ 328.09
For Non-Members:
$ 394.58
Programme Facilitator(s)
Thomas Egan
Venue
Live Webinar in or outside of
Singapore
Date & Time
14 Oct 2025 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
SGD pricing -
For Members:
$ 393.49
For Non-Members:
$ 473.06
Programme Facilitator(s)
Thomas Egan
Venue
Live Webinar in or outside of
Singapore
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.
FRS 116 (IFRS 16) Leases, effective 1 Jan 2019, dramatically changed how lessees account for leases. Although preparers and users have become familiar with applying FRS116, there are still numerous challenges faced when applying the standard.
Through a case study on property lease, this workshop e will examine the recognition, measurement, presentation and disclosure requirements of FRS 116 and focus on the subsequent guidance from the IASB and IFRIC, as well as look at practice for issues that remain unclear.
At the end of the session, participants will be able to
- Understand the requirements in FRS 116 regarding lease recognition, measurement, and disclosure;
- Apply FRS116 to real-world leases through journal entries and calculations;
- Analyse lease modifications, subleases, and sale-leaseback transactions; and
- Evaluate the impact of assumption changes;
Describe the differences in accounting treatment in FRS 116 and US GAAP
Programme Outline
Overview of FRS 116
- Core principles, scope, and definitions
- Recognition, measurement, presentation, and disclosure
Case Study: Property Lease
- Lease term determination
- Measuring lease liability and ROU asset
- Calculating depreciation and interest
- Remeasurement due to assumption changes
- Journal entries
US GAAP Comparison
- Differences in balance sheet, income statement, and cash flows
- Impacts to analysts and preparers
Complex Post-Implementation Issues
- Free rent, lease modifications, VAT/GST
- Subleases, restoration costs, mutual options
- Sale and leaseback treatment
- Leasehold improvements and depreciation
Training Methodology*
Lecture style, with Case Studies
Closing Date for Registration*
3 days before course start date
Intended For
An Intermediate level programme intended for both Practising and Non-Practising Accountants and Auditors.
Competency Mapping
Category 1 = 7.00 Hours
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.