Name: 《國際財務報告準則》第16號，租賃和其他財務報告事項 (IFRS 16, Leases and other financial reporting matters)
Uploaded: 2021-01-14T06:56:03.000Z
Duration: 1 h 19 min 29 s
Description: 【看影片學英語】數萬部 YouTube 影片，搭配英漢字典即點即查，輕鬆掌握單字發音與用法，長久累積看電影不必再看字幕。

Welcome to Deloitte Financial Reporting updates, our webcast series cover issues and developments

related to the various accounting frameworks. Today’s presentation is: “Bringing Clarity

to an IFRS World. IFRS 16: Leases and another financial reporting matters”. I’m Jon

Kligman, your host for this webcast, and I’m joined by others from advisory and national

accounting groups. Just a couple of housekeeping items before I tell you about our agenda and

speakers. If you would like a copy of the slides for reference, they are available for

download on the same webpage on which you accessed this update. You can also direct

your colleagues to the webcast link by referring them to Deloitte Canada’s Center for Financial

Reporting, which is accessible at iasplus.com, simply select Canada-English from the dropdown

menu at the top right of the webpage. Okay, let’s get to our agenda. First you

will hear from Nomita Dan and Martin Roy who will provide us with an overview of IFRS 16,

the new lease’s standards including the revised definition of a lease, the impact

on lessee accounting and transition considerations. After Nomita and Martin, Kerry Danyluk will

provide an update on IFRS amendments effective this year, IFRS interpretations committee

decisions to consider and an update on securities matters. Our comments on this webcast represent

our own personal views and don’t constitute official interpretive accounting guidance

from Deloitte. Before taking any action on any of these issues, it’s always a good

idea to check with a qualified advisor. No professional development certificates will

be issued for attending the webcast; we encourage you to check with your provincial institutes

(or ordre) regarding the continuing professional development credits.

I’d now like to welcome our first two speakers, Nomita Dan and Martin Roy. Nomita is a senior

manager in Deloitte’s Toronto Advisory Practice with over 15 years of public accounting experience.

Nomita assists clients with understanding, interpreting and applying accounting guidance

related to a variety of specialized areas including leasing, securitizations and consolidation.

Martin Roy is a partner in our Advisory Services Group, he has an over 24 years of experience

in accounting and financial reporting. Martin specializes in accounting for leases, consolidation,

structured entities, joint arrangements, securitizations and financial instruments under IFRS, US GAAP

and ASPE. So over to you Nomita. Thank you, Jon, and hello everyone! Before

we get into the details of IFRS 16, I thought we would take a look at some of the drivers

leading to this change in lease accounting as we know it. The current model, the current

IAS 17 model, requires lessees to classify leases as either an operating lease or a finance

lease. Where, as we know, a lease asset and lease liability are recognized on a lessee’s

balance sheet for a finance lease. However, an operating lease is not reported on lessee’s

balance sheet. Instead, it is effectively an off-balance-sheet lease, and accounted

for similar to (how) a service contract would be, with a lessee recognizing a straight-line

lease expense over the lease term. Many, including investors, the SEC, and others have expressed

concerns about the lack of transparency of information about these obligations that are

operating leases. The absence of information on the balance sheet has meant that analysts

and other financial statement users often have to make adjustments to better reflect

an entity’s leverage as well as to be able to make comparisons between entities that

purchase or have finance leases versus entities that primarily utilize operating leases as

a strategy. As well, the differentiation between the finance leases and the operating leases

has been criticized as resulting in economically similar transactions being accounted for differently.

As a result of all these factors, the IASB and the FASB set out to improve the accounting

for leases. As part of the lease’s project, the IASB performs an analysis, looking at

a sample of listed companies using IFRS or US GAAP. The next slide provides the sense

of the magnitude of these off-balance-sheet leases and the industries expected to be most

impacted by the new standard. Based on the analysis performed by the IASB,

the amount of leases currently off-balance-sheet is significant, 14,000 companies reported

an estimated $2.18 trillion US dollars in off-balance-sheet lease payments on a discounted

basis, of which 1,022 companies sampled by the IASB accounted for 1.6 trillion of this

2.18 trillion. No surprise, the highest proportion of off-balance-sheet leases are in North America,

with the next highest region being Europe followed by Asia-Pacific, Latin America and

finally Africa and the Middle East. As we can see by the pie-chart by sector, the industries

expected to be most impacted by the new standard are airlines, retailers, travel and leisure

and transport. Now let’s delve into the new model under IFRS 16, the first step to

this being identifying whether or not a contract is or contains a lease.

So, under IFRS 16, at the inception of a contract, an entity assesses whether the contract is

or contains a lease. With the inception date being the earlier of the date of the leased

agreement and the date of commitment by the parties to the principal terms of the conditions

of the lease. Subsequent to inception, an entity reassesses whether a contract is or

contains a lease only if the terms and conditions of the contract are changed. Under the new

standard, a contract is or contains a lease if the contract provides the customer with

the right to control the use of a specified asset for a period of time in exchange for

consideration. What is control under that new model? Well,

control exists if the lessee has both the right to obtain substantially all of the economic

benefits from the use of an identified asset, and the right to direct the use of that asset.

While the definition has changed somewhat from IAS 17, it is not expected to affect

the vast majority of contracts applying lease accounting. That being, leases currently accounted

for under IAS 17 are generally expected to be leases under IFRS 16. The next slide depicts

the decision tree that an entity may follow to identify whether a lease exists in a contract.

This slide lays out the steps that an entity would follow to identify whether you have

a lease or not in a contract. The first step is: Is there an identified asset? If the answer

to this question is “No”, then the contract is not a lease. However, if the answer is

“Yes”, then the next question is: Does the customer have the right to obtain substantially

all of the economic benefits of the asset throughout the period of use? If this is not

the case, then the customer does not obtain substantially all of the economic benefits

of the asset; then the contract would not be considered a lease. However, if the answer

is “Yes”, and the customer does in fact obtain substantially all of the economic benefits

throughout the period of use, then the next question becomes, are the relevant decisions

about how and for what purpose the asset is used predetermined? If the answer is “Yes”,

the “how and for what purpose the asset used is predetermined”, then if the customer

can operate the asset without the supplier having the right to change the operating instructions,

or the customer has designed the asset so that the “how and for what purpose the asset

is used” is predetermined, then a lease would be considered to exist. If the answer

is “no”, and the how and for what purpose the asset is used has not been predetermined,

then the question becomes, does the customer have the right to direct “how and for what

purpose the asset is used” throughout the period of use? If the customer has the ability,

to the right to direct “how and for what purpose the asset is used” throughout the

period of use, then the lease would be considered to exist. In the next couple of slides, we

will explore these concepts of “identified assets”, “substantially all of the economic

benefits” and “the right to direct use of the asset” in more detail using an example.

Here are the facts to our example, Customer enters into a contract with Supplier for the

use of a specified ship for a five-year period. The ship is explicitly specified in the contract,

and Supplier does not have substitution. Customer decides: what cargo will be transported; and

whether, when and to which port the ship will sail throughout the five-year period of use,

subject to restrictions specified in the contract. Those restrictions prevent Customer from sailing

the ship into waters that are high risk of piracy or carrying hazardous materials as

cargo. Supplier operates and maintains the ship, and is responsible for the safe passage

of the cargo on board the ship. Customer is prohibited from hiring another operator for

字幕列表影片播放

《國際財務報告準則》第16號，租賃和其他財務報告事項 (IFRS 16, Leases and other financial reporting matters)

approach

recognize

significant

period