Analysis And Study On The Financial Impact Of Changes In Leasing Standards On COSCO Shipping Holdings

Affected by the new crown epidemic,the shipping industry has been in the doldrums for a long time,and in recent years,the development of the shipping industry in China has entered a new stage,and leasing as an indispensable new means to achieve financing and expand the scale of enterprise operation,Chinese enterprises have gradually accepted.At present,leasing has become a key economic development industry supported by the state,and it is also one of the components of the modern service industry,which is a new driving force for the state to reduce the asset-liability ratio,promote the rapid transformation of the economic structure and the rapid upgrading of the industrial model.The implementation of the new leasing standard CAS21-Accounting Standard for Business Enterprises No.21-Leasing will further reform and develop China’s shipping industry.This article will conduct a case study of COSCO SHIPPING Holdings Co.,Ltd.,a leading enterprise in the shipping industry,first introducing the characteristics and leasing mode of the shipping industry,and secondly finding the difference between the main contents of the old and new leasing standards and the different accounting treatment of lessees.Then,taking COSCO SHIPPING Holdings as the research object,the financial data disclosed by the company in 2017-2019 was used as the starting point for specific analysis.First,it introduced the basic overview of COSCO SHIPPING Holdings.Second,the specific accounting department of COSCO SHIPPING Holdings’ operating leasing business was carried out to pave the way for subsequent analysis of its specific impact.Third,according to the above accounting treatment,adjust the financial statements and relevant indicators of financial performance ability in accordance with the requirements of the new lease accounting standard to evaluate its impact,calculate the specific numerical changes brought about by the implementation of the new lease standard and analyze its possible impact on the company’s business activities.The expected impact is mainly reflected in the financial statement data:COSCO SHIPPING Holdings’ total assets and total liabilities increased,while total profit decreased,and the total cash flow of the enterprise remained unchanged;The asset-liability ratio and equity ratio fluctuated to varying degrees,while the total asset turnover ratio,net profit margin on sales and return on net assets all increased.This means that the implementation of the new standard may increase the solvency,operating capacity and profitability of enterprises,and directly make enterprises more resistant to risks.Finally,according to the influence of the guidelines on enterprises,several suggestions are put forward,hoping that China’s shipping companies can smoothly resist the negative impact of the new crown epidemic and help the steady development of China’s shipping industry.