Research On The Impact Of My Country's New Leasing Standards On The Financial Situation Of The Aviation Industry

In December 2018,the Ministry of Finance issued a new lease accounting standard "Enterprise Accounting Standards No.21-Leases".The new leasing standards have performed the same accounting treatment for financial leases and operating leases,overcoming the deficiencies in transparency and comparability of statements,which have substantially prevented the same accounting treatment for the same businesses in the old leasing standards.Considering that the implementation of China’s new leasing standards is expected to have a significant impact on the financial status of some enterprises,for the purpose of protecting related enterprises,the Ministry of Finance has stipulated that the new leasing standards in China will be implemented in two phases.And companies listed overseas and using IFRS or corporate accounting standards to prepare financial statements will be implemented from January 1,2019,and other companies will be implemented from January 1,2021.HNA Holdings belongs to the latter.This article uses HNA Holdings as a case.Based on its 2018 financial data,a comparative analysis of the impact of the implementation of the new and old leasing standards on its financial status is made.The financial impact of this project has led to a smooth transition to the implementation of the new leasing standards,and discussions have been made on how to make adjustments in terms of financial decisions.The full text consists of six parts.The first part is based on the summary and evaluation of previous studies,and puts forward the starting point of this article.The second part defines the related concepts,and at the same time pave the way for the next argument.The third part summarizes the basic situation of HNA Holdings,the current status and processes of aviation leasing,and the situation of China’s leasing market.The fourth part compares the old and new lease standards in terms of lease definition,division,lessee accounting treatment,presentation and disclosure,and analyzes the differences between the two.The fifth part is mainly based on the2018 financial data of HNA Holdings,using the new leasing standards to simulate the preparation of financial statements,and then comparing with the actual financial statements in 2018,analyzing the impact of the new leasing standards on the financial position of HNA Holdings,and How to make corresponding adjustments in financial decisions to achieve a smooth transition between the old and new lease standards wasdiscussed.The sixth part summarizes and summarizes the content of the full text,and draws conclusions and inspirations.Through research,this article draws the following research conclusions: First,China ’s new leasing standards eliminate the lessee ’s classification of operating leases and financial leasing,which overcomes the shortcomings of substantially the same business but different accounting treatments under the old leasing standards,and improves the Transparency and comparability of financial statements;secondly,the implementation of China’s new leasing standards will have a huge impact on the financial status of the air transport industry,which accounts for a relatively large number of operating leases;finally,China’s air transport industry,etc.,is greatly affected by the new leasing standards The industry should make corresponding adjustments in financial decisions to smoothly transition to the implementation of the new lease standard.