Skibe - Genstand for værdiforringelse: Regnskabsmæssig behandling af skibe i henhold til IAS 16 og IAS 36

Anita Kristensen

Studenteropgave: Kandidatafhandlinger


The subject for my study is to get an understanding of the accounting treatment of tangible assets, according to IAS 16 and IAS 36 with regards to impairment. For a shipping company, the total asset balance mainly relates to vessels. Impairment is often synonymous with testing on intangible assets, such as goodwill, customer relationships, software etc. I therefore found it interesting to look into, how the accounting treatment and impairment testing are for tangible assets such as vessels. European shipping companies, which report in accordance with IFRS are the subjects for the analysis. Annual reports for the period from 2010 to 2014, are read and analysed to determine the factors which have impacted the impairment testing, and if there is a connection between key figures, marked development within the shipping business and impairment requirements. Besides that, it is analysed to which content the information provided in the annual reports meets the IFRS requirements on impairment for the vessels. As a result of a decline in growth, decreased freight demand and new technology vessels are put into the marked, resulting in overcapacity, the freight rates are decreased. This combined with increased oil prices have resulted in the companies within the shipping business has faced lower earnings throughout the past 5 years. The mentioned marked conditions have over the past five year’s influenced the expected return on future cash flow for the operators within the shipping business. Comparing the development for the WACC for the entities which has informed on the used WACC for the calculation on value in use for vessels shows that the WACC is more or less stabile between the years. So reasons for impairments made on the vessels in the period are mainly as a result of changes in expected return of cash flows. Based on my study, the IFRS requirements with regards to preformed impairment can be improved significantly for many of the companies. The analysis shows, that it is improved over the years, but there is still long way before all companies meet the requirements. Especially for information regarding preformed sensitivity analysis and explanation on potential impairment as a result of changes in value of use calculation

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
Antal sider88