A Study On The Expected Financial Impact And Countermeasures Of The New Leasing Standards On HNA Holdings

With the development of economy and society,leasing has become one of the important ways to acquire assets for many companies,and plays an important role in today's economic business.According to the old lease criteria,leasing is divided into operating lease and financial leasing,many companies used the advantages of operating lease to modify their Financial Statements.After many years of discussion and consultation,in January 2016,the IASB promulgated IFRS 16,which no longer distinguishes between operating lease and financial leasing and take the single model.This change eliminates the disadvantage of off-balance-sheet financing,and improves the quality of Financial Statements.According to the requirements of the convergence between CAS and IAS,China's Ministry of Finance CAS21 in December 2018,which will be implemented on January 1,2019.CAS21 will have huge influence on the aviation industry,because airline has a large number of operating leases.HNA is the fourth largest enterprise in Chinese airline industry,has a big assets and strong operating capacity,and the operating leased aircraft proportion reached 57.88%,so it is necessary to study the effects of changes in leasing standards on HNA.This thesis is divided into six parts:The first part is introduction,introducing the background and significance,summarizing the domestic and foreign literature,proposing the research ideas and methods,and pointing out the innovation.The second part introduces the background and theoretical basis of CAS21.This part mainly introduces the background of the revision of the lease accounting standards and the distinction between the old and new standards.The third part is HNA's introduction and current situation,introducing the background of HNA and the current situation of operation,finance and leasing.The fourth part is the expected financial impact of HNA under the CAS21,including the effect on its leasing business,financial consequences and financial indicators.The fifth part summarizes the expected financial problems and put forward the corresponding suggestion.The sixth part is conclusion and prospect.The innovation of this thesis is as follows:1.CAS21 have just been implemented,so study the expected impact of the standards can play a warning role for airlines.2.HNA is a Chinese-foreign joint venture,so the results have reference value for other Chinese-foreign joint ventures.