Study On The Financial Impact Of The New Leasing Standard On The Hotel Industyr

Hans Hoogervorst,former chairman of the IASB,noted that the new lease standard is the most influential and controversial accounting standard in history.Leasing is a special business model that separates asset ownership and use rights,and is a model for the combination of real economy and financial innovation.Internationally,leasing is second only to bank credit and is a very important business business.However,under the original leasing standard(IAS 17),a large number of leases were off-balance sheet,and the assets actually used by the enterprise and the obligations to be paid could not be fully reflected.In order to effectively address the above proposition,the International Accounting Standards Board(IASB)and the Financial Accounting Standards Board(FASB)jointly initiated the revision of the lease standard,and issued a new lease standard in 2014.China’s Ministry of Finance also issued relevant policy documents on the new leasing guidelines at the end of 2018 and announced their implementation timelines.The purpose of the promulgation of the new leasing standard is very clear,not only to maintain synchronization with and close to international accounting standards,but also to improve the relevant leasing accounting standards in view of the loopholes in the original standards to ensure the healthy development of relevant industries.The implementation of the new leasing accounting standard has stricter requirements for the leasing business involved in enterprises,and on the one hand,the presentation of financial statements must be open and transparent,and the essence of economic business should be conveyed to the users of financial statements.In response to the problems in the implementation of the original standard,such as the large number of off-balance sheet assets in operating leases in the leasing business,but the relevant information could not be obtained from the financial statements,investors’ decision-making was disrupted.Industries with a large number of leasing businesses,such as aviation,retail,hotels,etc.,have been significantly affected under the new standard,especially the business premises of the hotel industry,most of which were originally acquired by operating leases or financial leases,and they are more obviously affected by the new leasing standards.This article selects the hotel industry as a basis for a case study of Group A and analyzes how it is affected in the course of its operations.This paper mainly expounds the relevant background and significance of the research,as well as the research content and methods of this paper,so as to show his research ideas.On this basis,the relevant literature at home and abroad is sorted out and summarized,and the theory used in this paper is displayed.Next,the definition of lease is explained,and the differences between the scope of application and classification definition in the old and new standards are listed.By comparing the current differences between China’s hotel industry and developed countries,how the development status is,and at the same time,the types of hotels under Group A and the leasing situation involved are explained in detail,and the overall situation of the case company is introduced.Group A’s adjustments to its financial statements in the face of the new standard reflect that the implementation of the new leasing standard has an impact on the three major financial statements,financial performance indicators and corporate operating activities.The impact on the implementation of the new standard is summarized,and reasonable countermeasures are proposed to the problems.Considering the huge potential of the development space of the hotel industry,it is hoped that more scholars will conduct targeted research on the new leasing standards and the hotel industry,pay attention to the healthy development of the hotel industry,and also actively guide the leasing industry to go further.