Research On The Change Of Leasing Standards And Its Impact On Retail Enterprises

In recent years,the leasing industry has developed vigorously and penetrated into various industries.The leasing business with financing nature has played an important role in the development of enterprises,especially in the aviation industry,retail industry,and medical industry.Accounting is the language that describes economic business.In the context of the prosperity and development of the leasing industry,standard documents of accounting standards have also been introduced and evolved with the development of the leasing industry.In 2016,the International Accounting Standards Board issued a new international leasing standard-IFRS16.As early as 2006,China's financial department formulated a policy of keeping the convergence of China's accounting standards and international financial reporting standards system.After the release of the consultation draft in early 2018,the Ministry of Finance of China officially issued Caikuai [2018] No.35 "Accounting Standards for Business Enterprises No.21-Leases"(CAS21)in December 2018,and notified that the new standard will be issued in 2019.It will be implemented on January 1.There is a big difference between the new lease standard CAS21 and the old lease standard CAS21.The core change is that the lessee no longer distinguishes between operating leases and financial leases.Unlike the old lease standard CAS21 era,operating lease information is mainly reflected in the income statement.In the era of the new lease standard CAS21,all lease information will also be reflected in the balance sheet,and the lease behavior will be recognized as the right-of-use asset and the corresponding lease liability in the balance sheet.This change will inevitably have a huge impact on related industries,especially industries with large operating leases and high leasing subject value.The retail industry will rent a large number of houses as stores and warehouses in daily business activities.This article focuses on the retail industry,studies the expected impact of the new leasing standard,and selects the famous chain company Hongqi Chain in the retail industry for a case study.This article first sorts out and studies the research on the new leasing standards at home and abroad,then combs the development process of international and domestic leasing standards,analyzes the main changes in the new and old leasing standards,summarizes the defects of the old leasing standards,and considers the possibility of the new leasing standards.The impact caused by a combination of comparative analysis and case analysis,based on the Hongqi Chain's 2018 annual financial report,restated the relevant financial data,and specifically analyzed the impact of the new and old lease standards on the financial statements and financial indicators and Further impact on business decisions.The research conclusion of this article is that,on the one hand,after the adoption of the new lease standard,the internalization of the operating lease asset table has caused changes in key financial indicators such as the company's asset-liability ratio,asset turnover ratio,current ratio,and net interest rate,which may not be conducive to the enterprise On the other hand,under the new standard,the company's operating behavior can be more truly reflected in the financial report.The new standard greatly reduces the possibility of companies using off-balance sheet leases to whitewash the financial statements and improve the financial statements.Reliability and comparability.Finally,this article puts forward a series of specific suggestions for the reference of relevant enterprises,and prepares them for entering the era of the new leasing standards in advance,so as to reduce the adverse consequences brought about by the changes in the leasing standards.