ПО ДВА ВАЖНИ ВЪПРОСА ОТНОСНО НОВИЯ СТАНДАРТ ЗА ЛИЗИНГА
TWO IMPORTANT QUESTIONS ABOUT THE NEW LEASING STANDARD

Author(s): Boika Brezoeva
Subject(s): Economy, National Economy, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: lease; lessee; lessor; right–of–use asset; lease liability
Summary/Abstract: IFRS 16 Leases completely changes the accounting for leases by lessees based on the concept of transferring control over a right-of-use asset – as opposed to the concept of transferring risks and benefits, which was fundamental in the reversed IAS 17 Leases, and under IFRS 16, applies only by lessors. The report makes a critical analysis of the conceptual underpinnings of the new accounting requirements for leases, seeking to answer two important questions: (a) why has lease accounting changed? and (b) why two reporting models are required for lessors but only one for lessees? According to the author, the arguments presented by the IASB for the application of different accounting models and approaches by lessees and lessors is inconsistent from a theoreticaland methodological point of view, and it results in an asymmetric effect on the financial statements of the two counterparties under a lease. Notwithstanding the IASB's strengths in the right-of-use asset model, its major drawback is that all leases are treated as financing transactions, thus not adequately reflecting the economic differences between them.

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