Research On The Impact Of The New Leasing Standards On Sinotrans And Its Respons

Leasing is an important boost for the operation and development of enterprises in China.With the vigorous development of socialist market economy in China in the new era,higher requirements are put forward for the standardization of leasing accounting,In order to reflect the consistency between China’s accounting standards and international accounting standards,the Ministry of finance of the State Council has decided to issue a new leasing standard,accounting standards,which will be fully implemented from 2021.The new leasing standards have made a subversive change to the traditional leasing accounting model,canceling the division between financial leasing and operating leasing,and all leasing businesses are treated with a single accounting model for the right-of-use assets.The operating leasing assets owned by the lessee need to be reflected in the financial statements,and the new leasing standards will be fully implemented from 2021.In the business model of logistics industry,the acquisition of logistics resources such as warehouses,machinery and equipment,aircraft and ships depend on leasing,and because the operating leasing could not be reflected in the statements in the past,most logistics enterprises tend to carry out operating leasing in the leasing business.However,after the implementation of the new leasing standards,these enterprises that rely on operating leasing will face the problems reflected in the statement of huge amount of leasing assets,which will have a great impact on the financial statements and related indicators of enterprises.By analyzing the main changes of the new leasing standards,taking Sinotrans as the case study object,starting with the changes in accounting model under the new leasing standards,through the data comparison of related items in the balance sheet before and after the change of the new leasing standards,and the restatement and comparative analysis of the statements,it can be found that the balance sheet,income statement and cash flow statement of the enterprises have changed;furthermore,according to the changes in statement items,this thesis explores the changes in key financial indicators from three perspectives: solvency,profitability and operational capacity.Through comparative analysis,it is observed that after the application of the new leasing standards,a large number of assets and liabilities of enterprises are recognized,and liabilities are greater than the growth of assets,asset-liability ratio,interest coverage ratio and other indicators are reduced,and the former high and later low interest expenses lead to the decline of early profits of enterprises.In view of the negative impact of Sinotrans’ s application of the new leasing standards on the statement items and related indicators,Sinotrans has also made the following countermeasures: adjusting the leasing business and reducing the recognition of operating leasing;reconstructing the business model,building intelligent logistics,reducing costs and increasing efficiency;broadening financing channels and reducing financing risks.By adopting coping strategies,Sinotrans has weakened the impact of standards on statements,optimized its business model and enhanced its financing capacity.In view of the impact of the new leasing standards and Sinotrans’ s coping strategies,in order to make the related enterprises in China’s logistics industry smoothly pass the change period of standards and achieve healthy development,the following countermeasures are put forward: first,adjust the relevant decisions of leasing business;second,reform the business model;third,optimize financing decisions.