| With the prosperity and development of the leasing industry,the disadvantages of the original leasing standards have been increasingly questioned by stakeholders.On the one hand,the lessee can use the operating lease model to provide off-balance sheet financing for the enterprise to cover up the true financial status of the enterprise;on the other hand,operating lease transactions and financial lease transactions with similar economic substance are very different in terms of accounting treatment.As a result,the comparability between financial statements has been greatly reduced.As a result,the IASB issued IFRS16 Leases in 2016 after soliciting comments and discussions.Based on the convergence of China’s accounting standards and international accounting standards,the Ministry of Finance of China in December 2018 also issued the revised "Enterprise Accounting Standards No.21-Leases".The new leasing standards are used to standardize the accounting treatment and information disclosure of leases,unify the accounting treatment of lessees’ operating leases and financial leasing businesses,and improve the hidden off-balance sheet liabilities of operating leases in the old lease standards,which are incomparable with the financial statements of companies in the same industry Disadvantages,but also caused pressure on the lease’s early profits and difficulty in financing,especially for industries such as aviation and retail that rely on leasing for daily operations.Among them,airline aircraft leasing business is more common,especially for private airlines.The proportion of aircraft obtained through operating leasing is quite high.According to the information of listed airlines ’2018 annual report,Juneyao Airlines’ operating leased aircraft accounted for66.67%,which is significantly higher than state-controlled airlines and other private listed airlines.Therefore,this article will take Juneyao Airlines as an example,and take the new lease standard as the expectation.Through analysis and comparison of the differences in the financial indicators of the 2018 financial statements under the new and old lease standards,it will reveal the impact of changes in lease standards on airlines and propose a reasonable Coping strategies.This article uses case analysis as the research method and selects Juneyao Airlines as the case study object.First,analyze the development of China’s modern leasing business and its accounting treatment.Secondly,the data of various financial indicators under the new leasing standard were calculated through calculation and compared with the financial indicators of the 2018 financial statements under the company’s current standard.Impact on financial performance and risk management.Finally,to deal with these effects,corresponding countermeasures are proposed.Through case studies,this article proposes relevant strategies and suggestions for Juneyao Airlines to cope with changes in the leasing standards.First,the company should adjust the asset structure in a timely manner,reduce the number of assets under operating leases,optimize the purchase decision,and carefully design the relevant terms of the lease contract,Thereby reducing the financial pressure of the company in the transition period between the old and new standards;secondly,although Juneyao Airlines currently has good credit and financing conditions,the implementation of the new lease standard will cause the risk of weakening its solvency,so Juneyao Airlines should plan ahead and optimize financing Channels and structures to reduce possible financing risks in the future;finally,in order to be able to make correct financial treatment and economic decisions after the implementation of the new leasing standards,Juneyao Airlines should adjust the company’s internal structure and system management in advance to strengthen the accounting professional talent pool,So that the company can successfully transition in the reform of leasing standards. |
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