Webinars

All our webinars are available to view as many times as you like and can be viewed on all platforms and devices. We understand that taking time out of the office isn’t always possible therefore our online courses allow you to train without leaving your home or office, reducing expenses and making it easier to fit into working life.

Corporate Governance Essentials – The UK’s New Governance Regime (Webinar)

This webinar will help understand the key principles of the governance code which is effective from the 1st January 2019.

IFRS 16 – Leases Box-Set

IFRS 16 Leases became effective on 1 January 2019, replacing IAS 17 and a number of interpretations. The former standard classified leases into operating or financing leases, with operating leases staying off the balance sheet of a lessee. However IFRS 16 requires all leases to come onto the balance sheet as a right-of-use asset and a lease liability, with the exception of short-term or low-value leases. With almost all companies using leases, this new standard brings trillions of pounds of new debt onto the balance sheets of corporate lessees, impacting on gearing and affecting loan covenants. The accounting changes also extend to the P&L as the flat operating lease charge is replaced with depreciation, interest and possibly impairments. This brings a change to the pattern of expense in the P&L, affecting performance measures such as EBITA and performance related pay. It is not just the financial statements and disclosure notes that will be affected. Managing the accounting requirements of IFRS 16 will bring increased demands on IT functions, accounting systems, processes and internal controls over the many judgements and assumptions made. Even identifying all the leases on transitioning to the standard will be challenging. Few companies hold a comprehensive list of all leases or the legal lease contracts and sometimes leases can be embedded in other contracts, requiring work to determine whether they need to be recognised alongside the explicit leases. Quorum are delighted to offer a suite of webinars that will guide you through the detailed requirements of IFRS 16, from first-time adoption, identifying leases, and the accounting by both lessees and lessors. The webcasts are broken down into five 20-30 minute sessions, with exercises and illustrations to reinforce learning. Session 1 – Introduction The first session provides an Introduction to IFRS16 and the reason for its introduction. It considers the effective date for entities before looking at the key principles and the transitional rules on first-time adoption Session 2 – Identifying a lease Leases may exist in contracts that aren’t necessarily labelled as leases. This session examines the detailed criteria for determining whether a contract contains a lease. Next the lease must be split into lease and non-lease components. This session explains how to identify and measure the split, and the respective accounting treatment for the different components. Finally it considers the definition of “lease term” that is used by both lessees and lessors when measuring their leases. Session 3 – Lessee accounting Session 3 considers how a lessee initially measures the right-of-use asset and lease liability, requiring an understanding of the relevant lease payments, the lease term and the appropriate discount rate. At the reporting date, it explains and illustrates how the asset is updated for depreciation and impairment, and how the liability is remeasured at amortised cost. Finally it considers the adjustments required where various estimates are revised causing the leased asset and liability to be remeasured. Session 4 – Lessors Lessors are largely unaffected by the introduction of IFRS 16 and will continue to classify their leases as operating or financing. This session considers the classification distinction and the accounting for the two types of lease by both regular lessors and manufacturer/ dealer lessors. Session 5 – Exemptions and sale & leasebacks This session explains the limited number of elections and exemptions offered by IFRS 16 to simplify the accounting. The second part of the session works through the new requirements for accounting for sale and leasebacks, with significant changes from the treatments under IAS 17.

IFRS 17 Insurance Contracts (Webinar)

This webinar will help understand the key principles of the IFRS 17 Insurance Contracts standard change looking at the background and consideration of the main areas of difficulty that in practice will arise in applying the model to insurance contracts.

IR 35 & The Private Sector – the future and beyond? (Webinar)

This webinar will help understand the key principles of IR 35 from April 2020 and how to prepare.

Tax – Whats on the horizon? (Webinar)

This webinar will help understand the key principles that will change in tax over the forthcoming months within corporate business and personal tax.
  • Sign up to our course reminder email here