Investeringsejendomme og tilhørende gældsforpligtelser: Regnskabsmæssige behandling af investeringsejendomme og tilhørende gæld, set i lyset af den nye årsregnskabslov pr. 1. januar 2016, herunder dennes krav til øgets transparans ved indregning til dagsværdi.

Mads T. L. Albrechtsen & Nikolaj Kjeldgaard Jørgensen

Studenteropgave: Kandidatafhandlinger


In Denmark a proclamation was published at the end of 2015 with a new financial statement act with effect from 1 January 2016. This new financial statement act included changes for companies with investment properties. This thesis will focus on how the companies with investment properties are affected by the new financial statement act and how the accounting principles for them are. This thesis starts with an explanation of the most essential stakeholders for the annual report, the changes for investment properties in the new financial statement act, the accounting execution of properties and the change of accounting principles of mortgage debt for the companies. The thesis also includes an explanation of the three used methods for measuring investment properties, which are cost, normal earning method and discounted cash-flow method. To explain the difference between the methods the thesis uses an example property to calculate the three methods for valuation of the property and mortgage debt. The analysis involves analyzing the difference between valuation values, and sensitivity based on different factors like return requirements, operating return etc. There’s also an analysis of the change of accounting principles from fair value to amortized cost for mortgage debt with a focus on the difference between the two methods if the interest rate changes in different directions. To explain the effect of the new financial statement act in the real estate market, the thesis includes a marked analysis in which 101 companies’ annual reports are analyzed. The analysis focus on the valuation methods, changes in accounting principles, changes in accounting methods of mortgage debt, information about key issues in the annual reports about investment properties and even more. To understand and analyze how the results of the analysis of the market and the example company the thesis includes interviews from four professionals from the different stakeholder perspectives. At the end, the thesis combines information for the “example property”, market analysis and interviews of professionals, to summarize and conclude the effect and how the market have reacted to the new financial statement act. Finally, in conclusion, based on analysis, the dissertation will provide recommendations for additions as well as reinforcement of current legislation.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
Antal sider150