Regnskabsmæssig behandling af leasing i leasingtagers årsrapport: Med fokus på indvirkningen af den foreslåede afskaffelse af sondringen mellem operationel og finansiel leasing

Maibrith Damborg

Student thesis: Master thesis

Abstract

This thesis has been prepared as part of my MSc in Business Economics and Auditing (CMA) study at the Copenhagen Business School. The issue addressed in the thesis is the accounting treatment of leases in the lessee's annual report. The thesis especially focuses on a new draft accounting standard for leases replacing the applicable IAS 17. The applicable accounting rules of recognition and measurement of leasing distinguish between operating and finance leases. Each type of lease is accounted for differently. The difference in the accounting treatment has resulted in criticism of IAS 17 in several areas. The new draft accounting standard developed by the IASB and the FASB strives to respond to the criticism of IAS 17. The criticism is dealt with by eliminating the distinction between operating and finance leases. The new draft accounting standard requires that all leases (right-of-use model) are accounted for in the balance sheet in conformity with a purchase funded by loans. The IASB and the FASB have published the new draft accounting standard and asked all interested parties and organisations for input to and comments on the draft. Based on selected comment letters and supporting questionnaires, the thesis analyses the ability of the new accounting standard to respond to the current criticism of IAS 17. The analysis also includes an assessment as to whether a better fair presentation in the financial statements is achieved by implementing the draft accounting standard. Also, it has been assessed whether such implementation will pose any specific challenges for the lessee. The analysis is based on comment letters from the following parties: FSR, A.P. Moeller - Maersk Group and Deutsche Bank. Questionnaires were sent to three respondents. The thesis concludes that the new draft accounting standard will eliminate much of the criticism of which IAS 17 has been subjected to. The draft accounting standard will, in many areas, give a better fair presentation in the financial statements compared to the applicable IAS 17. However, the current costs and the implementation costs will be substantial and, consequently, it will be doubtful whether such costs will eliminate the value in use related to a better fair presentation in the financial statements.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2011
Number of pages131