Leases What is changing?

Transcription

1 Leases What is changing? Almost all leases will gross-up your assets and liabilities. Are you ready for this? Public Workshop Full (1) day: 9.00am pm Level 15, 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, Kuala Lumpur

2 For annual periods beginning from 1 January 2019, the new lease standard, MFRS 16 will come onboard and this new lease accounting is expected to result in sweeping changes to companies who are lessees and have operating leases. Almost all leases will have to be reported as rights of use assets with corresponding lease liabilities. Such balance sheet changes may trigger possible breaches to loan covenants, affect various measures of return (e.g. return on asset). The income statement geography will change too, with below the line expenses replacing operating lease rentals. Lease disclosures are expanded and close tracking of assumptions used in estimating fair values of the leases is of paramount importance. We offer the following workshop, dedicated to your understanding of MFRS 16: Full (1) day Objectives Awareness & deep-dive of MFRS 16 concepts This workshop will cover: You will get the benefits of awareness of MFRS 16 concepts plus the following: Practical experience in applying the MFRS 16 concepts to illustrative worked examples Sharing of FAQs on complex MFRS 16 issues In gearing up, businesses should think about impacts and transition options upfront. Stakeholders expectations must be managed. Implementation and planning works should commence soonest possible. CPE hours / CPD points 8 The need to review lease contracts & possible breach of loan covenants Stakeholders management & staff training needed System readiness and disclosures are affected

3 HRDF : Human Resource Development Council (HRDC) Companies that contribute to the Human Resource Development Fund (HRDF) are entitled to obtain a training grant from HRDC under the Skim Bantuan Latihan (SBL) scheme. Application is subject to HRDC's approval. To apply SBL scheme, you must submit completed form PSMB/PGL/1/09, together with the detailed programme agenda and speaker's profile which we will provide to you upon request. An interactive approach Our workshop adopts an interactive approach in sharing experience and knowledge, placing emphasis on discussions, and where relevant, learning points are illustrated through case studies. By designing a programme that links to the relevant current issues, we aim to explain key elements of the financial reporting framework that would be of significance to the participants. Participants will also have the opportunity to work on practical exercises. Who should attend? Finance Directors Senior management Finance and tax managers/executives Financial analysts Regulators, academicians and accountancy students CPE hours/cpd points Credit points under the Continuing Professional Education (CPE) and/or Continuing Professional Development (CPD) programmes will be awarded to members of the: Malaysian Institute of Accountants (MIA) Malaysian Institute of Certified Public Accountants (MICPA) Association of Chartered Certified Accountants (ACCA)

4 Leases What is changing? Public Workshop 9.00am pm Level 15, 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, Kuala Lumpur Registration Form (please photocopy form, if necessary) Tick ( ) your preferences on workshop date Workshop fee RM1,000 RM1,060 Time 9.00am 5.30pm 9.00am 5.30pm Dates 28 Jan 14 Feb 28 March 18 Apr 14 May 19 June Early bird 22 Jan 7 Feb 21 March 11 Apr 7 May 12 June * The workshop fee includes training materials, refreshments and lunch. Effective 1 March 2019 (Pursuant to the Amendment on Service Tax issued on 31 Dec 2018) the workshop fee will be inclusive of Government Service Tax at 6%. Organisation: Address: Telephone: ... Fax: Enclosed Bank/Cheque No:... Cheques should be made payable to PricewaterhouseCoopers Taxation Services Sdn Bhd How did you know about this workshop? PwC website Social media (FB, Twitter, LinkedIn) ACCA MIA MICPA Friends / Colleague Others (Please specify):.. 10% off registration fee for: *Early Bird - Valid for registration and payment received at least one week before workshop date (s); OR Group - Valid for 3 or more participants registering under the same company or group of companies Kindly return the completed registration form to us via to: The Academy (Capital Markets & Accounting Advisory Services) PricewaterhouseCoopers Risk Services Sdn Bhd c/o Aiza Munirah binti Mazlan Level 10, 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, P O Box Kuala Lumpur Tel: Fax: theacademy@my.pwc.com As the number of participants for each workshop is limited to achieve optimum effectiveness, we expect to sell out early. Register early to guarantee your seat by submitting the completed registration form to us via mail, fax or a week before your workshop date(s). If the workshop has reach maximum quota on the date that you selected, we will inform you on availability of seats of other dates in this brochure. A confirmation note will be mailed a week before the workshop date An official receipt will be available for collection on the day of the event No cancellation and/or refund is allowed but a replacement participant may be sent The organiser reserves the right to make any amendments and/or changes to the programme if warranted by circumstances beyond its control.

5 Interested in a Customised Solution? Customised training workshops can be organised and tailored according to your specific needs. With a blend of subject matter experts on various industries sharing their practical insights together with a structured training approach, we believed you will walk away equipped in embracing these new MFRSs. Our value propositions below: Step 1 Define Conduct discussion with you to discuss and agree on the training plan and training method, such as the training style, case studies or real work examples, exit assessment etc. Step 2 Develop After considering your input, we will develop and tailor the training materials linking concepts and how they are applied under these new MFRSs Each training module will be reviewed by our subject matter expert to reflect the current industry practice and up-to-date requirements that will affect your organisation. Step 3 Validate The materials will be send to you for your feedbacks, appraisal and evaluations. The purpose is to ensure that contents are aligned with the objectives and your expectations. Step 4 Deliver Step 5 Evaluation We will identify the appropriate trainers and subject matter experts to conduct the training. Our team of trainers and subject matter experts shall share and highlight the theories and concepts enhanced with their practical insights and experiences. We welcome all feedbacks and evaluation comments as part of our improvement process for the next session. We will also evaluate the effectiveness of the training with other stakeholders. All feedbacks and improvement points shall be addressed and incorporated into future runs training materials. Talk to us Gan Wee Fong Partner wee.fong.gan@pwc.com Mobile: Foo Wee Liam Executive Director foo.weeliam@pwc.com Mobile: Yanti Abd Rahman Senior Manager yanti.abd.rahman@pwc.com Mobile: PricewaterhouseCoopers. All rights reserved. "PricewaterhouseCoopers" and/or "PwC" refers to the individual members of the PricewaterhouseCoopers organisation in Malaysia, each of which is a separate and independent legal entity. Please see for further details. CS08885