The Influence Of IFRS16 On Chinese Lease Accounting And Countermeasures

Economic globalization has been unable to be blocked by any factor in historical trend.If China wants to maintain a favorable position in the process of economic globalization,it must further open its doors to meet the opportunities and challenges of the international economy.Accounting is the foundation that cannot be ignored in economic life,it maintains the orderly conduct of economic life.However,there is a large number of externalization phenomenon of operating leasing table,it makes that most of the leased assets and liabilities cannot be confirmed in the table,and the statement's users cannot know the true financial status of the company.The diversification of the leasing business has a clearer definition of leasing,and the corresponding adjustment of the leasing classification can alleviate the financing problem outside operating lease table.This series of issues is driving the revision and change of leasing accounting standards.To this end,the International Accounting Standards Board officially introduced the new lease accounting standard IFRS16 in2016.In order to better adapt to the international economic environment,Chinese convergence with international standards in accounting standards is an inescapable choice.According to PwC's assessment and forecast,the aviation industry is the most affected in accounting processing,presentation and other aspects in addition to the retail industry.Based on the economic activity of leasing,this paper further elaborates on the related content of leasing accounting and new international leasing accounting standard IFRS16.On this basis,the current situation of Chinese leasing market is analyzed realistically,including the leasing industry and the aviation industry closely related to leasing.This paper makes L Company in the aviation as a case study to analyze transformation of leasing accounting standards from CAS21 to IFRS16,which makes an influence in Chinese leasing accounting,especially the impact on L Company in the aviation industry.Finally,according to the characteristics of the aviation industry and the results of case studies,suggestions from three levels of the standard setters,L Company and other relevant departments put forward a proposal on how to adapt to the new international accounting leasing guidelines IFRS16 to help the company better cope with the new international leasing accounting standards.