Research On The Impact And Response Strategies Of The New Lease Standards On CQ Airline Company

With the gradual prosperity of the market economy,China’s leasing industry has developed rapidly,and the shortcomings and drawbacks of old leasing standards have become increasingly prominent.Under the old lease standard,operating lease business does not need to recognize assets and liabilities,and more and more enterprises use this for off-balance sheet financing and whitewash financial statements,which seriously affects the authenticity and relevance of accounting information.In view of this,China promulgated the revised Accounting Standard for Business Enterprises No.21-Leasing in December 2018,which stipulates that enterprises listed at home and abroad at the same time will be officially implemented on January1,2019,and enterprises listed only in China will be officially implemented on January 1,2021.The new leasing standard regulates the recognition of leases and introduces right-of-use assets and lease liabilities,making operating leases ineffective as off-balance sheet financing,which is bound to impact airlines with a large number of operating lease businesses.Therefore,in the early stage of the implementation of the new leasing standard,how airlines can better and faster adapt to the new standard to mitigate the adverse impact of the revised standard is a problem that deserves deep consideration and needs to be solved urgently.This paper focuses on the impact of the new leasing standard on airline aircraft leasing and its response strategies.Firstly,this paper sorts out the literature of domestic and foreign experts and scholars on the revision process of leasing standards,the impact of new leasing standards on airlines and airline response strategies,and studies the classic theories related to aircraft leasing,which lays a foundation for the in-depth analysis of the following article.Secondly,this paper compares and studies the changes of the old and new leasing standards,finds that the old leasing standards have many limitations in terms of leasing division,information disclosure,and disconnection from international standards,and analyzes the main changes of the new leasing standards in detail from the aspects of leasing identification,accounting treatment and information disclosure,so as to ensure the scientificity and rationality of systematically studying the impact of the leasing standard changes on CQ Airline company.Then,based on the analysis of CQ Aviation’s operation and aircraft leasing status,this paper comprehensively discusses the impact of the reform of leasing standards on CQ Airline company,and finds that companies will face greater pressure in terms of financing methods,contractual arrangements and risk control of aircraft leasing.In view of this,it is necessary for CQ Airlines to broaden the financing methods of aircraft leasing,optimize the contract design of aircraft leasing,and strengthen the risk control of aircraft leasing,so as to ensure that preventive measures can be taken in a timely manner under the new leasing standards,mitigate the adverse effects caused by the changes in the standards,and achieve stable and healthy development.The innovations of this paper are mainly reflected in:(1)This paper is not limited to studying the impact of the new leasing standard on CQ Aviation aircraft leasing from the level of financial data and financial indicators,but also discusses the level of leasing contracts and risk management and control,which expands the existing research field to a certain extent.(2)This paper integrates the knowledge in the fields of finance,accounting,financial management and taxation,and studies the reform of leasing standards and its impact on airline aircraft leasing from a practical level,and the research perspective is cross-cutting and cutting-edge.(3)This paper selects CQ Airlines,which relies heavily on operating leases and implemented the new leasing standard on January 1,2021,as the research object,which has strong timeliness and typicality.