Acta Univ. Agric. Silvic. Mendelianae Brun. 2012, 60, 345-358
Published online 2013-07-02

Convergence of IFRS and US GAAP in the field of lease: the impact of new methodological approaches for operating lease reporting

Patrik Svoboda, Hana Bohušová

Ústav účetnictví a daní PEF, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika

Since 2002 the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) has begun significantly cooperate in the creation of standards based on the same principals. This is a process of convergence. It is realized through a series of sub-projects aimed at short-term or long-term period. Revenue recognition and lease reporting projects represent priority areas of convergence. The issue of leases belongs to one of the areas in which there have been, after a relatively long time, criticized the very principles applied in international accounting standards. The result of the convergence activities should be the creation of such methodological approaches of reporting the lease contracts on the side of lessee and then lessor that would eliminate the main weaknesses of the current system of reporting based on the classification of lease contracts in connection with the execution or non execution of the transfer of risks and benefits associated with the lease to the lessee. The aim of this paper is to evaluate the impact of implementation of the newly proposed methodological approach for lease reporting in the field of operating leases into the financial statements that will be affected by this change of methodology (balance sheet, income statement). Subsequently, it is evaluated also the impact into selected indicators of financial analysis with a focus on indicators, in whose construction are used items of statements that are significantly affected by the change of the methodological approach.


27 live references