Amendments to IAS 17 accounting for leases: Its effects on the financial statements of lessee-airline companies
The latest proposed amendments to IAS 17 Accounting for Leases since the release of the Exposure Draft last August 17, 2010 will give rise to a new and more transparent presentation of the lease transactions companies are engaged in. Lessors and lessees alike are required to change their treatment a...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Animo Repository
2012
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_bachelors/11524 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | The latest proposed amendments to IAS 17 Accounting for Leases since the release of the Exposure Draft last August 17, 2010 will give rise to a new and more transparent presentation of the lease transactions companies are engaged in. Lessors and lessees alike are required to change their treatment and measurement of the assets, liabilities, income and expenses related to these transactions to achieve the standard-setting bodies goal of proper lease accounting. This study focuses on the effects of the latest proposed amendments on lessee-airline companies wherein leasing is a common transaction. Affected financial statement accounts and financial ratios from years 2008 to 2010 are restated, compared, and tested for significant differences. The results of the study show the implications should the latest proposed amendments supersede the current accounting standard for leases. |
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