Research On The Impact Of New Leasing Standards On Shipping Enterprises And Countermeasures

Leasing is an important way for enterprises to finance in the development of modern market economy.With the rapid development of leasing business,the old leasing standards in 2006 can no longer meet people’s requirements for financial statement information,and a series of disadvantages are gradually exposed.In 2016,the new international leasing standards were issued.In order to maintain convergence,China revised and issued the accounting standards for Business Enterprises No.21-leasing at the end of 2018,which will be fully implemented on January 1,2021.The new leasing standards update the definition of leasing and other concepts.The lessee adopts the "two leases in one" model,and the operating leasing business is no longer accounted for off balance sheet.These changes will have a significant impact on the shipping industry with a large number of leasing businesses.This paper comprehensively expounds the financial impact of the revision of leasing standards on the shipping industry and the coping strategies of shipping companies,studies the impact of the reform of leasing standards on the shipping industry and the adaptive decision-making of shipping enterprises for the reform of leasing standards.Taking COSCO Shipping as an example,this paper analyzes what changes the implementation of the new leasing standards has brought to the enterprise’s financial data,and then what impact it has on COSCO Shipping’s financial indicators and business strategy.At the same time,it analyzes how COSCO Shipping takes measures to deal with the adverse effects and Implementation effects of these changes from a practical point of view,and finally puts forward countermeasures for other enterprises implementing the new leasing standards.This paper concludes that the new leasing standard will increase the scale of assets and liabilities of COSCO Shipping,increase the asset liability ratio and other indicators,and the profit will be affected by the high before and low after the lease cost;The net operating cash flow in the cash flow statement of the current year increased and the net cash flow from financing activities decreased.The promulgation of the new leasing standards has worsened the capital structure of COSCO Shipping and increased the difficulty of financing;At the same time,it improves the information quality of financial statements and makes financial accounting more complex.In order to cope with the negative impact brought by the difficulties of the new leasing standards,COSCO Shipping rearranged the financing strategy,optimized the capital structure and widened the financing channels;In terms of investment,adjust the way of introducing ships and increase the investment in Wharf business;Pay more attention to cost control in enterprise operation,strengthen risk management and deepen internal and external cooperation.The above measures have controlled the change degree of adverse impact of financial data,and also adapted to the requirements of COSCO Shipping’s development strategy.The promulgation of the new leasing standards is of great significance for standardizing the accounting and information disclosure of leasing business,and has a far-reaching impact on leasing transactions in all walks of life.This study not only expounds the impact of the new leasing standards on heavy asset industries such as shipping industry,which is typical for shipping enterprises,but also provides good norms for other enterprises to deal with the impact of the new leasing standards,which has important practical guiding significance.