| Leasing is a common way for modern enterprises to obtain the right to use assets.Old leasing standards are often used for off-balance-sheet financing by enterprises because they divide the leasing business into operation leasing and financing leasing according to the risk-reward model and adopt totally different accounting methods,which results in the damage of accounting information quality and is often criticized by investors.With the outbreak of financial crisis,the problem of off-balance-sheet financing has been paid more and more attention.For this reason,the IASB promulgated the new leasing standard IFRS16 in 2016,and on December 7,2018,China also revised and issued the new leasing standard CAS21,which is essentially the same.In the new leasing standards,the important change is to capitalize the operating lease,not to divide the operating lease and financial lease,but to include all leases in the scope of financial reporting(except exemption items).The vast majority of leased assets will be recognized as corresponding usufruct assets and lease liabilities.This will have a tremendous impact on the relevant industries.The daily operation of the retail industry needs to operate and rent a large number of houses and buildings as stores or warehouses.Because of the large scale of lease and the high value of assets under lease,the introduction of new lease criteria will have a significant impact on enterprises.In this paper,Gome Retail,a representative retail chain,is selected as a case study.Based on the financial data in the notes to its annual report,the financial statements of Gome Retail are restated according to the accounting treatment stipulated in the new leasing standards.By comparing the financial data of the new and old leasing standards,analyzing the changes of key indicators,we can get the impact of the new leasing standards on Gome Retail,Finally,the impact on the retail industry is obtained.It is found that the new leasing criteria will increase the scale of assets and liabilities during the leasing period,change the cost level,and affect the profit distribution of the enterprise;have no effect on the total cash flow,but affect the internal structure of cash flow.At the same time,The relevant financial indicators of enterprises have also changed,which in general leads to worse evaluation of enterprises,and brings greater challenges to the operation and management of enterprises.On the other hand,it improves the quality of accounting information andis beneficial to users of financial statements.In order to help related enterprises transition successfully to the new leasing criteria and reduce the adverse consequences of the new leasing criteria for related enterprises,this paper finally puts forward specific suggestions for the impact of the new leasing criteria on retail industry. |
