The workshop aims to provide you with an insight and guidance into HKFRS 16 “Leases”. It will cover the key principles of the new lease accounting model for lessees, which is one of the key changes introduced by the new standard. It will also highlight some of the other areas of change under the new standard and will provide a refresher on the principles of lease accounting for lessors, which remains substantially unchanged from HKAS 17.
Key Topics Covered:
1. Definition of a lease
2. Lessee accounting and the single lease accounting model
- Recognition and measurement exemptions
- Initial measurement
- Subsequent measurement
- Lease modifications
- Presentation and disclosure
3. Lessor accounting and the dual lease accounting model
- Classification as a finance or operating lease
- Finance lease accounting
- Operating lease accounting
- Lease modifications
4. Sale and leaseback transactions
5. Overview of the transition options
Trainer profile:
Kamsuo Wong MA, LLM, MBA, FCPA (Aust.)
With three Master’s degrees under his belt, Kamsuo Wong, a candidate for a Doctorate degree of Education, is highly regarded as a multi-faceted academic backed by over fifteen years of extensive professional experience in accounting. He is a professional accountant in Hong Kong, United Kingdom and Australia and the member of Hong Kong Institute of Certified Public Accountants (CPA), Chartered Institute of Public Finance and Accountancy (CPFA), and CPA Australia (FCPA). He is also the Expert Council Advisor of International Financial Management Association. He is currently the Assistant Professor of Centennial College (an independent College established by University of Hong Kong), Adjunct Lecturer at a number of universities and tertiary education institutions.
