IFRS leases: A valuer's perspective
Event summary
We’ve been told it’s coming for a long time, and now it finally is: changes to accounting requirements will become effective from 1 April 2022. The new standard will bring with it significant changes for lessees. If you're a valuer, and work for or on behalf of a local authority, your skills and expertise are likely to be called into play. If you would like to know more about the new standard and how your role as a valuer will contribute to the preparation of the accounts, this is the training event for you.
Date
31 January 2022
Starts: 09:30
Ends: 16:00
Location
Webinar
Standard price
£375.00 excl VAT
Network Member Price
£325.00 excl VAT
*the event has started.
About this event
The event will provide an understanding of:
- the principles of IFRS 16 leases
- the interpretation of a contract and decisions around whether it falls within the scope of the standard
- requirements at the transition date and initial measurement of property lease interests
- subsequent measurement requirements, including application of revaluations - with practical examples
- the standard implications for lessors
- how valuers may contribute their property and valuation skills and expertise to the preparation of the accounts
In addition, the event will give delegates an opportunity to ask questions or seek clarification on the application of the standard to their organisation.
Who should attend?
Anyone involved in the preparation of valuation of property for financial accounts, particularly where an authority leases in property assets. While primarily aimed at valuers, this event is likely to be beneficial for accountants, property managers, and legal professionals likely to be involved in decision making around the new IFRS 16 Leases implementation.
How will I benefit from attending?
Delegates will:
- Be able to understand the implications of the new IFRS 16 Leases standard for both lessors and lessees
- Understand the role of the valuer in assisting with lease identification, interpretation of terms and key dates
- Understand the valuation approaches and methodology to be applied for lease accounting
- Have an appreciation of how the skills of the valuer will contribute to the preparation of an authority's accounts under the new standard
CPD hours
Four.
Topics
- Accounting
- / Financial management
- / Financial reporting
- / Local government
- / Professional development
- / Property
- / Value for money
Speaker - David Ellis, FAN Advisor, CIPFA
David joined CIPFA in July 2012 as a FAN advisor, after a 30 year career in local government. He spent several years as chief accountant with key responsibilities for the statement of accounts.
David has an extensive technical knowledge and practical understanding of local authority financial statements and the International Financial Reporting Standards (IFRS)-based Code of Practice, and uses that wealth of knowledge and experience to provide support and guidance to practitioners across local government in his established role as FAN advisor. David qualified with CIPFA back in 1989 and uses his passion for understanding the evolving technical aspects of local authority accounting to provide support to finance staff at a practical level. As the pressures on local government funding and services continue to bite, CIPFA's FAN support is becoming an ever-important lifeline for busy practitioners in helping them prepare for and manage the changes in financial reporting and accounting required to comply with the code of practice.
Email: david.ellis@cipfa.org
Tel: 07879 665950
Speaker - Dave Ayre, Property Networks Manager, CIPFA
Dave is a qualified public service manager with extensive experience in the development and implementation of innovative public/private partnerships. He manages CIPFA's Highways Asset Management Planning, Strategic Assets and Property Training Networks, and advises on asset management, partnering and wider property issues throughout the UK.
Speaker - Donna Best, Property Advisor, CIPFA
Donna joined CIPFA in March 2020 as a property advisor. She is a member of the RICS and Registered Valuer, with some 30 years experience in the property industry including local government. where she headed property teams and was responsible for overseeing the preparation of annual capital accounting valuations. .