IFRS 16 & Accrual-Based Accounting: Practical Reporting Workshop (H1009)
Build confidence in IFRS 16 lease accounting and accrual-based financial reporting through a practical, hands-on workshop focused on real-world application, cut-off accuracy, and reliable financial statements.
able of Contents: IFRS 16 & Financial Reporting Modules
- About the Course: Mastering Lease Accounting & Cut-off Assertions
- Who Should Attend: Accounting & Audit Professionals in Cyprus
- Key Learning Objectives
- Course Curriculum: From IFRS 16 Principles to Practical Journal Entries
- FAQ
- Fees & Registration Details
- Registration Form
About the Course: Mastering Lease Accounting & Cut-off Assertions
Accurate financial reporting is vital for decision-making and compliance. IFRS 16 introduced major changes in how leases are recognized and reported, impacting both lessees and lessors. At the same time, accruals and prepayments remain essential in applying the accrual basis of accounting, ensuring revenues and expenses are recorded in the correct periods. Particular emphasis is placed on the financial statement assertion of cut-off, which ensures that transactions are recorded in the appropriate accounting period, avoiding misstatements that could undermine reliability and transparency. This course addresses the need for accountants, auditors, and finance professionals to strengthen their skills in these two interconnected areas, ensuring accuracy, compliance, and integrity in financial statements.
Master the essentials of IFRS 16 Leases and the fundamental concepts of accruals and prepayments in this focused workshop. Designed for early to medium-level professionals in accounting and finance, the program equips participants with the knowledge and tools to confidently apply international standards and accurate accrual-based adjustments in practice. Through interactive sessions, case studies, and examples, participants will learn how to identify, record, and report lease contracts under IFRS 16 and manage accruals and prepayments effectively for reliable financial reporting.
Who Should Attend: Accounting & Audit Professionals in Cyprus
This seminar is suitable for:
- Junior Accountants
- Finance Officers
- Internal & External Auditors
- Professionals preparing for ACCA, ACA, or similar qualifications
- Early to mid-level accounting staff in corporates and audit firms
Key Learning Objectives
Key Course Takeaways
- In-depth understanding of IFRS 16 lease accounting principles and their practical application for lessees and lessors
- Solid knowledge of accruals and prepayments and their direct impact on financial statements and period cut-off
- Practical ability to apply IFRS 16, including lease calculations, journal entries, and accounting treatment
- Hands-on experience in preparing, adjusting, and reconciling accrual-based accounting entries at period end
- Ability to analyse IFRS 16 disclosures and assess their impact on key financial ratios and reporting quality
- Disciplined, compliance-focused approach to IFRS financial reporting requirements
- Enhanced professional judgment, attention to detail, and commitment to accurate and reliable financial reporting
Course Curriculum: From IFRS 16 Principles to Practical Journal Entries
Session 1: Introduction
- Course introduction
- Discussion of participants’ expectations
- Overview of IFRS 16 and accrual-based accounting
- Linking leases, accruals, and prepayments to reliable financial reporting
Session 2: IFRS 16 – Core Principles
- The background and objectives of IFRS 16
- Scope: Which contracts fall under IFRS 16
- Lessee accounting model: Right-of-use assets and lease liabilities
- Initial and subsequent measurement of leases
- Lessor accounting overview
- Practical expedients and exemptions
- Case examples and short exercises
Session 3: IFRS 16 in Practice
- Identifying lease components in contracts
- Calculating lease liability and right-of-use asset
- Handling variable lease payments, modifications, and re-measurements
- Presentation and disclosure requirements in financial statements
- Impact on ratios, KPIs, and stakeholder perception
- Hands-on case study with journal entries and reporting
Session 4: Accruals and Prepayments – Fundamentals
- The accrual basis of accounting: matching revenues and expenses
- Types of accruals: accrued income, accrued expenses
- Types of prepayments: prepaid income, prepaid expenses
- Adjusting entries at period-end
- Illustrative examples with T-accounts and trial balance adjustments Study
Session 5: Accruals and Prepayments
- Case studies: preparing accruals and prepayment schedules
- Common errors and how to avoid them
- Integrating accruals and prepayments into financial reporting
- Linking with IFRS 16 adjustments for completeness
Session 6: Course finalization
- Recap of key takeaways
- Integrated case study (leases + accruals/prepayments combined)
- Q&A, discussion of practical challenges
- Course assessment and closing remarks
Fees & Registration Details
FAQ
Yes. This workshop is fully approved for HRDA subsidies. Eligible companies can significantly reduce or eliminate the enrollment fee via the ERMIS portal.
Absolutely. We use real-world case studies to calculate lease liabilities and right-of-use assets, ensuring you can apply the theory the next day at work.
Yes. You earn 8.5 Verified CPD units, fully compliant with ICPAC, ACCA, and ACA professional development requirements.