دانلود رایگان مقاله انگلیسی تبدیل صورت های مالی: اقدامات مربوط به اجاره نامه های سرمایه گذاری شده - امرالد 2017

Abstract

Purpose The purpose of this paper is to examine how capitalising operating leases under IFRS 16/AASB 16 effects the financial statements and value relevance of financial information. In doing so, limitations of exiting methods are highlighted and improved upon. Design/methodology/approach Imhoff, Lipe and Wright’s (1991) constructive method for capitalising operating leases is improved and used to restate the financial statements of 165 S&P/ASX200 companies. The financial position, key ratios and value relevance are tested for significant differences. Findings The results provide evidence that capitalising operating leases impacts upon financial statements and value relevance. Originality/value Imhoff et al.’s (1991) constructive method is refined providing an improved method for capitalising operating leases than has been used in the past. From a practical perspective this research provides evidence which supports the ‘right-of-use’ method proposed by the IASB which will see previous off-balance sheet leases recognised.

7. Conclusion

This study examines the impact of capitalising operating leases on financial statements and the value relevance of capitalised operating leases. By refining the constructive method (Imhoff et al., 1991), we convert the ASX200’s financial statements to reflect the new requirements of AASB 16 Leases. With the exception of ROE, the findings indicate that the adoption of AASB 16 significantly affects the assets, liabilities, interest bearing debts and all key financial ratios. In particular, the impact of AASB 16 has stronger economic significance for the firms in the industrial and consumer discretionary sectors. Furthermore, the change on book value of equity as a result of capitalising operating leases is value relevant. However, the changes of earnings (earnings) do not materially affect the market value (returns).

From the perspective of enhancing information transparency for investment decisions, our study provides the first Australian evidence on the impact of adopting the new AASB 16 Leases standard. We believe the right-of-use method applied in AASB 16 is consistent with the present financial reporting conceptual framework and it ensures that operating lease transactions are faithfully incorporated into financial statements. It enhances the transparency of accounting practices by reducing the ability to use complex lease agreements to shift material information from financial statements.