Ultimate FRS 102 Section 20 Lease Accounting Masterclass
A life-saver for UK and Irish Accountants, Auditors, and Finance Controllers. Bypass the complexity of lease accounting under UK GAAP with concise, easy-to-understand explanations designed for busy professionals.
Created by Imad Uddin, FRM · Founder of IFRSMasterclass.com & FAAS Leader
Trusted by finance professionals globally.
About This Course
Who Is It For?
Finance Directors, Controllers, Audit Managers, and Accountants preparing or auditing financial statements under UK and Republic of Ireland reporting standards (FRS 102).
Prerequisites
A desire to bypass complexity and a foundational understanding of basic accounting principles.
Course Description
Are you struggling with the nuances of FRS 102 Section 20? Unlike international standards that force almost all leases onto the balance sheet for lessees, FRS 102 retains the classic dual-classification model. The Ultimate FRS 102 Section 20 Masterclass is packed with simple explanations, helpful examples, and practical Excel modeling exercises. The end goal is to empower you with tangible knowledge in the least amount of time, helping you confidently classify, measure, and disclose operating and finance leases for both lessees and lessors without the confusion of mixed GAAP frameworks.
What You Will Learn
Master the “risks and rewards” test to accurately classify leases as Operating or Finance.
Calculate and present Finance Leases correctly on the lessee's balance sheet.
Account for Operating Leases effectively, including lease incentives and straight-line expensing.
Navigate Lessor accounting, including manufacturer/dealer setups and net investment calculations.
Confidently structure and account for Sale-and-Leaseback transactions under FRS 102.
Clearly understand the critical differences between FRS 102 Section 20 and IFRS 16.
Course Curriculum & Modules
Part 1: The Fundamentals & Classification
01
Section 1: FRS 102 Section 20 Introduction
Scope, definitions, and the core differences from IFRS 16.
02
Section 2: Lease Classification
The “Risks and Rewards of Ownership” test. Indicators of a finance lease versus an operating lease.
Q1
Quiz 1
Test your knowledge on lease classification.
Part 2: Lessee Accounting
03
Section 3: Lessee Operating Leases
Recognizing lease expense on a straight-line basis, handling rent-free periods, and lease incentives.
04
Section 4: Lessee Finance Leases (Initial Measurement)
Determining the fair value of the asset, calculating the present value of minimum lease payments, and setting up the liability.
05
Section 5: Lessee Finance Leases (Subsequent Measurement)
Apportioning finance charges (interest expense) and depreciating the leased asset.
Q2
Quiz 2
Concept check on lessee accounting rules.
Part 3: Lessor Accounting
06
Section 6: Lessor Operating Leases
Recognizing rental income and depreciating the underlying asset on the lessor's balance sheet.
07
Section 7: Lessor Finance Leases
Derecognizing the asset, recording the net investment in the lease, and allocating finance income.
08
Section 8: Manufacturer or Dealer Lessors
Recognizing selling profit/loss and handling artificially low rates of interest.
Q3
Quiz 3
Assess your lessor accounting understanding.
Part 4: Complex Scenarios & Disclosures
09
Section 9: Sale and Leaseback Transactions
Treatment when the leaseback results in a finance lease vs. an operating lease.
10
Section 10: Disclosures
Key presentation and disclosure requirements for both lessees and lessors under UK GAAP.
Q4
Quiz 4
Final knowledge check on complex scenarios.
Part 5: Bonus Module (Templates & IFRS Comparison)
B1
FRS 102 Lessee Finance Lease Template
Ready-to-use Excel model for liability amortization and asset depreciation.
B2
FRS 102 vs. IFRS 16 Cheat Sheet
A clear, side-by-side comparison highlighting exactly where UK GAAP diverges from International standards.
B3
Practical Exercises
Hands-on application for lease incentives and sale-and-leaseback calculations.
What's Included
Instant Access
Begin learning immediately upon enrollment.
Downloadable Toolkits
Exclusive access to calculation templates and UK GAAP cheat sheets.
Hands-on Practice
Real-world exercises to give you on-the-job insights.
Knowledge Checks
Dedicated quizzes to clear misconceptions and ensure accuracy.
Career Enhancer
A verifiable Certificate of Completion to showcase your credentials.
Risk-Free Enrollment
7-day, no-questions-asked money-back guarantee.
Meet Your Instructor
Imad Uddin, FRM
Founder of IFRSMasterclass.com & FAAS Leader
Imad Uddin has a passion for simplifying accounting standards and developing a strong conceptual understanding for his students. He leads Financial Accounting Advisory Services at a reputable firm in Dubai. He founded IFRSMasterclass.com with one goal in mind: to help professionals quickly master complex reporting standards and advance their careers without the usual headache.
What Professionals Say About the Trainer
“Your knowledge astounds me. Never I have seen such depth into such a complex subject.”
(Prof) Dr. Steven Firer
“Thank you Imad for the insightful 2 days. Well delivered 👌.”
Maria Phooko
“Fantastic sessions you run on IFRS 17 & 9. Professionally delivered and well received by learners. Keep up the good work. Lots of your learners are asking for your contact, I will share. Thank you so much Imad Uddin Shaikh.”
Prince Sinamane
“It was really informative & comprehensive session, learned a lot from it.”
Uzaif Muhammad Asif
“Thank you so much sir, it was a great session.”
Homil Harani
“It was superb. Thanks Imad Uddin Shaikh.”
Saad Baig
“Thank you Imad Uddin Shaikh. It was excellent.”
Imran Shaikh - FCA
Feedback relates to Imad Uddin's training sessions and programs. It is shared as received, with only minor spelling and punctuation corrections.
Frequently Asked Questions
Who is this course for?
Whether you're an auditor reviewing UK subsidiary accounts, a controller managing a domestic UK/Ireland portfolio, or an accountant preparing financial statements under FRS 102, this course meets you where you are and propels you forward.
Does this course cover IFRS 16?
This masterclass is strictly focused on FRS 102 Section 20 (UK GAAP). However, it does include a bonus section explicitly comparing FRS 102 to IFRS 16 so you understand the differences when dealing with consolidated group reporting.
How long does the course take to complete?
The course is designed for busy professionals. You can bypass the complexity and work through the material entirely at your own pace, going from beginner to expert in just a few days.
Is there a refund policy?
Yes. If you aren’t completely satisfied, let us know within the first 7 days for a full refund. No questions asked.
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