Research On Sun Art Retail Group Limited Financing Problem And Optimization Under The New Lease Accounting Standards

The update of leasing standards is an important measure to improve the quality of accounting information.In the past,in order to meet the daily operation and expand development,retail enterprises highly relied on operating leases for off balance sheet financing,which covered up the real financial situation and operating results of the enterprise,and made the statement users and management make adverse decisions.At present,the provisions of the New Lease Accounting Standards pay more attention to the detailed disclosure of lease financing,which reveals the financing disadvantages of retail enterprises relying on operating lease for a long time,and exposes many financing problems.In order to quickly adapt to the impact of policy changes and improve the competitiveness of the industry market,under the background of the new standards,retail enterprises pay special attention to the solution of financing problems.The management urgently needs find diversified financing methods for the daily operation and expansion and development of enterprises.In order to meet the needs of retail enterprise management decision,this paper takes Sun Art Retail Group Limited,one of the first enterprises to implement the New Lease Accounting Standards,as the case study object,analyzes the financing problems existing in enterprises under the new leasing standards,and optimizes the design of its financing plan.First of all,it introduces the basic situation of Sun Art Retail Group Limited and its financing status.Secondly,through the comparative analysis of the changes in the financing situation before and after the revision of the lease standards,it points out the problems of enterprises in financing channels,financing structure and financing cost.Then,with lease financing and future development capital needs as the financing scale,a diversified financing scheme for Sun Art Retail Group Limited is optimized based on fuzzy analytic hierarchy process.Then,the effectiveness of the optimization scheme is evaluated in terms of financing channels,structure and cost,and the guarantee measures of the optimization scheme are put forward.Finally,summarize the financing problems and optimization results obtained from the above analysis,and put forward targeted inspiration for other listed retail enterprises to strengthen lease management,broaden financing channels and improve risk control.After research,this paper finds that Sun Art Retail Group Limited has the following financing problems under the New Lease Accounting Standards:(1)In terms of financing channels,operating lease is excessively dependent,equity financing opportunities are limited,and internal financing capacity is weakened;(2)In terms of financing structure,the proportion of internal and external source financing is not coordinated,the proportion of debt equity financing is not uniform,and the term of long and short term capital is unreasonable;(3)In terms of financing costs,the weighted cost of capital rose and the cost of personnel and systems administration increased.In view of these three aspects,the author redesigned the optimization scheme of diversified financing channels,balanced financing structure and low financing cost for Sun Art Retail Group Limited.Meanwhile,the author proposed that the enterprise should establish a leasing management system,improve internal operation capacity,strengthen communication with stakeholders,and improve financing risk control.