Right to use Leased Property in Financial Statements of Czech Small and Medium-sized Enterprises

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43909826" target="_blank" >RIV/62156489:43110/16:43909826 - isvavai.cz</a>

Výsledek na webu

<a href="http://vsers.cz/wp-content/uploads/2016/06/Auspicia-1-2016.pdf" target="_blank" >http://vsers.cz/wp-content/uploads/2016/06/Auspicia-1-2016.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Right to use Leased Property in Financial Statements of Czech Small and Medium-sized Enterprises

Popis výsledku v původním jazyce

The contribution aims to present the views of the selected Czech SMEs on the individual problems of lease reporting on the side of lessee as a response to the project of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), the concepts of which on reporting leases have been offered for the public discussion since the end of 2013. There are presented the author's views of the advantages and weaknesses of some of the proposed methods of reporting the lease contracts. These findings result from the performed comparisons of recording simplified specific lease contracts on operational lease from the business practice, reported according to the current IFRS methodology and the concept of the right of use, and from the comparison of views of specialists, in particular those published on the IASB and FASB websites. These views were further completed by the author with the partial results of the research survey conducted in 203 Czech SMEs (Small and Medium-sized Enterprises) dealing with the suitability of the future application of these principles to SMEs. The survey was conducted among the selected Czech companies whose leaders knew the problems of reporting operational and financial leases under the IAS/IFRS and were willing to study the concepts presented by the IASB and the FASB and other materials relating to leases. The analyzed enterprises generally believe that the application of the right to use the concept will lead to a true and fair view of the side of the lessee but the application of this concept is associated with inappropriate costs. Most respondents believe that the asset and liability should be recognized in one aggregated amount and the decreasing of the obligation and the asset amortization should be assessed separately. Especially, the very short-term contracts are candidates for exclusion from the right to use reporting methodology.

Název v anglickém jazyce

Right to use Leased Property in Financial Statements of Czech Small and Medium-sized Enterprises

Popis výsledku anglicky

The contribution aims to present the views of the selected Czech SMEs on the individual problems of lease reporting on the side of lessee as a response to the project of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), the concepts of which on reporting leases have been offered for the public discussion since the end of 2013. There are presented the author's views of the advantages and weaknesses of some of the proposed methods of reporting the lease contracts. These findings result from the performed comparisons of recording simplified specific lease contracts on operational lease from the business practice, reported according to the current IFRS methodology and the concept of the right of use, and from the comparison of views of specialists, in particular those published on the IASB and FASB websites. These views were further completed by the author with the partial results of the research survey conducted in 203 Czech SMEs (Small and Medium-sized Enterprises) dealing with the suitability of the future application of these principles to SMEs. The survey was conducted among the selected Czech companies whose leaders knew the problems of reporting operational and financial leases under the IAS/IFRS and were willing to study the concepts presented by the IASB and the FASB and other materials relating to leases. The analyzed enterprises generally believe that the application of the right to use the concept will lead to a true and fair view of the side of the lessee but the application of this concept is associated with inappropriate costs. Most respondents believe that the asset and liability should be recognized in one aggregated amount and the decreasing of the obligation and the asset amortization should be assessed separately. Especially, the very short-term contracts are candidates for exclusion from the right to use reporting methodology.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

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Projekt

<a href="/cs/project/GA13-21683S" target="_blank" >GA13-21683S: Kvantifikace dopadů zavedení společného konsolidovaného korporátního základu daně na příjmovou stránku rozpočtu České Republiky</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Auspicia

ISSN

1214-4967

e-ISSN

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Svazek periodika

2016

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

13

Strana od-do

90-102

Kód UT WoS článku

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EID výsledku v databázi Scopus

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