IFRS 16 - Challenges and Opportunities in Adopting and Applying the New Standard Regarding Leases
Abstract
The purpose of the paper is to study the evolution of the global, European and national leasing market, but first of all to take into account the changes introduced by the new IFRS 16. Thus, it was found that although the Romanian leasing market follows the same trend as the European leasing market, Romania prove to be more susceptible to negative changes in the economy. Moreover, economically developed countries account the highest part of the financing through leasing. This demonstrates that leasing cannot evolve without being closely linked to the economic development of the country in which it operates as product.
References
[2] Beckman J. K. Accounting and Managment Info Systems, University of Rhode Island, Kingston, Rhode Island, USAFASB and IASB diverging perspectives on the new lessee accounting: Implications for international managerial decision-making; 2015. Available online at: https://www.emeraldinsight.com/doi/abs/10.1108/IJMF-08-2015-0161.
[3] Cerbioni F. Cinquini L. Sostero U. Contabilità e bilancio – Terza edizione. Milano: McGraw-Hill; 2011.
[4] Fabi T. Il nuovo IFRS 16 sui contratti di leasing in “Il fisco” 9/2016; 2016: 866-870.
[5] Florescu D., Rotaru M. Contractul de leasing. Editura Universul Juridic; 2013.
[6] Gheorghiu Gh.Vrabie B. Forme ale contractului de leasing. Revista de drept commercial, Nr. 3/2006.
[7] Knubley R. Proposed changes to lease accounting. Journal of Property Investment & Finance, 28 (5); 2010. pp. 322-327
[8] Samuelson R.A. The Concept of Assets in Accounting Theory, Accounting Horizons, 3/1996. p. 147.
[9] Sicchiero G. Fondamenti di tecnica contrattuale, CEDAM; 2010: 22.
[10] Taylor J. The history of leasing. Finance and Business Institute; 2011.
[11] Tița-Nicolescu G. Leasing. București: Editura C.H. Beck; 2006.
[12] Voiculescu D. Coraș M. Leasing. București: Editura Științifica și Enciclopedică; 1985.
[13] Project Summary and Feedback Statement IFRS 16 Leases http://www.ifrs.org/Current-Projects/IASBProjects/Leases/Documents/IFRS_16_project-summary.pdf.
[14] Guida al Diritto, Il Sole 24 Ore , http://www.diritto24.ilsole24ore.com/guidaAlDiritto/codici/codiceCivile/articolo/29 19/art-2423-bis-principi-di-redazione-del-bilancio.html?refresh_ce=1.
[15] IASB, Basis for Conclusions on IFRS 16 Leases, http://www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FP roject%20Documents%2F269%2FIFRS%2016%20Leases_Basis%20for%20Conclusions .pdf.
[16] IASB, IFRS 16 Leases, link http://www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FP roject%20Documents%2F269%2FIFRS%2016%20Leases_Standard.pdf.
[17] OMFP 1802/2014, www. anaf.ro/static/10/Anaf/legislatie/OMFP_1802_2014.pdf.
[18] http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2008:320:0001:0481:it:PDF; p. 83.
Copyright (c) 2018 LUMEN Proceedings
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Selection and peer-review under responsibility of the Organizing Committee of the conference.
This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
© LUMEN Proceedings Series 2022 . The LUMEN Proceedings Open Access volumes are distributed under the terms of the 