Naslov
Accounting for leases - contribution to fair value reporting

Autori
Mrša. Josipa ; Katunar, Hrvoje

Izvornik
Journal of accounting and management (Zagreb) (1848-137X) 3 (2013), 1; 33-49

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
leases; right-of-use concept; IASB; IAS 17; fair value

Sažetak
The accounting for leases can be very complex, due to the many different solutions that a lease agreement may include. A special advantage of the present standard of accounting for leases is the off balance sheet financing, which stems from the fact that many of the lease contracts, which have created obligations and provide for the leased asset, are not shown in the financial statements because they have been classified as operating leases. This fact represents a very serious problem for financial statements users because the balance sheets do not show the total indebtedness of businesses, and it is up to as a result, the users to assess the company based on the published notes to the financial statements. Therefore, it is necessary to change the current accounting for leases by introducing the “right-of-use” accounting model explained in detail in this paper. According to released proposal, all leases, except short-term leases, are shown in accounting in the same way. Exceptions are only those leases in which all of the benefits and risks are transferred to the lessee and which are recorded using the purchase method.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA