Lease

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Use cases

About

The IFRS 16 Lease mind map template is a comprehensive technical guide designed for accountants, financial auditors, and corporate controllers managing international financial reporting standards. This 163-node IFRS 16 Lease cheat sheet provides a structured breakdown of the complex regulatory framework, covering essential criteria such as the Right-of-use assets and the specific conditions for Identifying a lease. The template is organized into five primary branches that detail the lifecycle of a lease agreement, from initial recognition to final disclosure. By utilizing this IFRS 16 Lease template, professionals can ensure compliance with global accounting rules, specifically focusing on how a Lessee obtains the right to control an underlying asset for a defined period. The visual structure helps clarify the distinction between lease and non-lease components, making it an indispensable tool for financial reporting and audit preparation.

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Terms and Conditions

When to use this template

Corporate Accountants and Financial Controllers

Preparing annual financial statements under International Financial Reporting Standards

External Auditors and Tax Consultants

Conducting a compliance audit of a company's lease portfolio

Accounting Students and Candidates

Studying for professional accounting certifications like the ACCA or CPA

How to use this template

Step 1

Download and open the file

Download the .xmind file and open it using Xmind desktop or the web-based editor to view the full IFRS 16 structure.

Step 2

Input your specific lease data

Navigate to the 'Initial measurement' branch and replace the generic nodes with your actual lease terms, liability figures, and asset values.

Step 3

Export for reporting or study

Use the export function to save your customized lease map as a PDF or image for inclusion in financial reports or study guides.

Frequently asked questions

What is included in an IFRS 16 Lease mind map template?

This template includes a detailed breakdown of IFRS 16 standards, covering definitions, lease identification criteria, sales and leaseback transactions, and specific accounting treatments for both lessors and lessees. It features over 160 nodes to ensure no regulatory detail is missed.

How do I use this Lease template for financial auditing?

Auditors can use the 'Lessee Accounting' and 'Initial measurement' branches as a checklist to verify that a client has correctly calculated lease liabilities and right-of-use assets according to the latest international standards.

Is this IFRS 16 Lease cheat sheet editable in Xmind?

Yes, the template is fully editable. You can customize the 'Separating components' or 'Lessee disclosure' nodes to match your specific corporate reporting requirements or add internal company policy notes.

What is the best way to handle low-value leases with this template?

Refer to the 'Short term and low value lease' branch. It provides the framework for identifying leases that can be recognized directly in the PnL rather than being capitalized on the balance sheet.

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