This webinar will cover the key elements of IFRS 16 leases, in particular how this IFRS 16 will impact the balance sheet of operators who have a significant number of operating leases.
Under IFRS 16, these companies will be required to recognise the lease liability in full, including all future lease payments, discounted to their current fair value at the date of transition to IFRS 16.
At the same time, operators will be recognising a right-of-use assets as a separate class of assets. Those operators, such as hotels and travel agents, with a significant number of properties will see both liabilities and assets increase dramatically.
The calculations on conversion are not easy and could potentially take an operator several months to get the final figures.
This webinar is highly beneficial to IFRS reporters or those who report under IFRS and will help demystify some of the accounting.
Benefits of attending:
You must be a member of the Travel, Tourism & Hospitality Community to attend, there is no charge to join. Click the 'Book here' button to become a member and reserve your place in one go.
Nikki Spoor, Director, White Hart Associates (London) LimitedNicola is both a Chartered Accountant and Chartered Certified Accountant and has been practising as such for over 25 years.
She runs a highly trained team and oversees some of the most significant audits in the UK travel industry. She has a far-reaching understanding of the UK direct tax regime and advises a large volume of companies on share option schemes, tax compliance, travel specific tax issues and research and development claims.
She is the Vice Chair on the ICAEW Travel, Tourism & Hospitality Communities Advisory Group and writes articles and blogs for the ICAEW on technical and regulatory matters for the outbound travel industry. In addition, she acts in an advisory capacity to many of the industry’s trade bodies and has presented at many trade and up-skilling seminars to and for such organisations.
In addition to her travel specific role within the practice she advises individuals and SME’s on wide ranging personal and corporate tax matters. Nicola’s strong belief is that her practice wants to provide and make available the same commercial and technical expertise, quality and depth of advice to SME clients that is also made available to the practice’s large clients. She enjoys seeing the difference having a highly skilled set of advisors can make to a client’s business and has seen many clients from start up through to the final sale of their businesses.
Vivek Mehan, Director, Mehan TrainingVivek is an chartered accountant and independent training and financial reporting consultant. He has nearly 20 years of experience in professional training and development. He has worked with a wide range of organisations both in practice and business (ranging from large FTSE 100 multinationals to owner managed companies). He also has extensive experience of working in the public sector. Vivek has particular expertise in financial reporting including UK GAAP, US GAAP and IFRS as well finance for non finance training. Vivek helped set up the ICAEW Academy of Professional Development and is the lead financial reporting trainer for it.
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