IFRS 16 - Challenges and Opportunities in Adopting and Applying the New Standard Regarding Leases
IFRS 16 - Challenges and Opportunities in Adopting and Applying the New Standard Regarding Leases

Author(s): Veronica Grosu, Elena Hlaciuc
Subject(s): Business Economy / Management
Published by: Editura Lumen, Asociatia Lumen
Keywords: IFR 16; IAS 17; leasing contracts;leasing markets;
Summary/Abstract: The purpose of the paper is to study the evolution of the global, European and national leasing market, but first of all to take into account the changes introduced by the new IFRS 16. Thus, it was found that although the Romanian leasing market follows the same trend as the European leasing market, Romania prove to be more susceptible to negative changes in the economy. Moreover, economically developed countries account the highest part of the financing through leasing. This demonstrates that leasing cannot evolve without being closely linked to the economic development of the country in which it operates as product.

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