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M2094 - IFRS 16 – Leases: an aviation focus (Online)

  • 15 Dec 2020
  • 09:15 - 12:30
  • Online Webinar


Registration Time: 09:00
Sessions Time: 09:15 - 12:30  including a 15-minute coffee break
Speaker: Mr Georges Xuereb
Venue: Online Webinar
Depending on the COVID-19 situation, CPE might be held face to face. 
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

Short Synopsis

IFRS 16 Leases removed the concept of operating and finance leases for lessees and replaced them with a single accounting model under which lessees must recognise all significant leases on balance sheet. Apart from the main impact on the balance sheet, the lease expense profile has also changed by becoming front-loaded for most leases irrespective of the consistency in the value of rental payments. The new accounting model affected financial metrics, such as a change in KPIs and introduced profit or loss and balance sheet volatility, and has affected many industries, especially companies operating in the aviation sector which have financed their aircrafts through a structure using long or short term leases.

Background Information

IFRS 16 introduced a single, on-balance sheet accounting model for lessees replacing previous leases guidance including IAS 17 Leases and IFRIC 4 Determining whether any arrangement contains a lease. A lessee recognises a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease payments. There are optional exemptions for short-term leases and leases of low value items. Lessor accounting remains similar to the current standard – i.e. lessors continue to classify leases as finance or operating leases.

Objectives of the session

By the end of the training session the participants will obtain an understanding of (i) the impact IFRS 16 has brought on the balance sheet and in profit or loss, and (ii) the measurement of the lease liability and the corresponding right-of-use asset in terms of the provisions of the standard. 


IFRS 16 Leases

Target audience

This course will be of benefit to Practitioners in industry, students and all those in the profession.

Speakers profile

Georges Xuereb is a Certified Public Accountant and forms part of the Accounting Advisory Services team at KPMG Malta, holding the role of a Manager and providing technical IFRS advice and assistance to local and foreign clients operating in various industries. Georges also delivers technical training on IFRS matters internally and to his clients, and lectures the Financial Reporting (FR) and Strategic Business Reporting (SBR) modules which form part of the ACCA qualification.


3 Hours Core 


Terms and conditions apply


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Tel. +356 2258 1900