Research On The Impact Of International Lease Accounting Standards Reform On China’s Air Transport Industry

Leasing is an important method of financing in the contemporary economy and plays an increasingly important role in the world economy.With the rapid development of the leasing industry,leasing accounting standards are continuously revised in order to obtain more realistic financial information.In January 2016,the International Accounting Standards Board(IASB)released IFRS 16 Leases(hereinafter referred to as "IFRS 16"),which will be January1,2019 into effect.The introduction of IFRS 16 can be described as long-lasting,good things and more grinding.As early as February 2006,the IASB and the Financial Accounting Standards Board(FASB)signed a memorandum.March 2009,the two committees jointly issued a draft lease accounting standards,and put forward the idea of the right to use assets.Again in August 2010 and June 2013,twice jointly issued a lease accounting standards draft.IFRS 16 was finally released in early 2016.In order to echo the requirements of our country’s accounting standards and the convergence of international accounting standards,the Ministry of Finance of our country released the Accounting Standards for Business Enterprises No.21-Leasing(Amendment)on January 28,2018(for comments draft)".Based on the revision process of international leasing accounting standards,this article focuses on the main line of IFRS 16,and uses case analysis,document analysis and qualitative analysis to study the expected impact on China after the international leasing accounting standards reform.First of all,it introduces the current status of leasing research both at home and abroad,as well as the background and reasons of international leasing accounting standards reform.Then it analyzes the content of IFRS 16 reform and its difference from CAS 21 in terms of leasing definition,leasing scope,leasing period and leasing classification.Secondly,Based on the actual financial statement data disclosed by the major airlines,this paper simulates the specific changes of the three major airlines after the implementation of IFRS 16.Through case studies,the asset-liability ratios of the three majorairlines have risen.The total lease expense for each period has been with the downward trend of the previous high and the low one,the owner’s rights and interests have been reduced year by year,while the operating profits,the total profits and the net profits decreased correspondingly,while the total cash flow remained unchanged;at the same time,the debt repayments of the three major airlines weakened capacity,reduced operational capacity,deteriorating profitability,increased difficulty in external financing,and increased financial risk.Finally,we put forward several suggestions from two aspects of national macro-convergence policy and micro-coping strategy.It is hoped that this will be helpful for the convergence of China’s Accounting Standards for Business Enterprises No.21-Leasing(Revised)(Draft for Comment)"can smooth implement in our country.