Research On The Financial Impact Of The New Leasing Standards On Hotel Enterprise

The leasing business originated in the United States in the middle of the 20 th century and began to emerge as a new way of financing.Later,due to trade reasons,it began to appear in the European Union and Japan and gradually flourished.In the1980 s,with the wave of reform and opening up,modern leasing business entered China and was widely used.After a certain period of development,the leasing business in China has formed a considerable scale,and the leasing business has gradually become standardized.In January 2016,the International Accounting Standards Board issued IFRS 16 Leases.In order to continue to maintain the consistency between China’s accounting standards and international accounting standards,fill in the defects of the old leasing standards,and improve the accounting standards of relevant leasing accounting standards,China’s financial department organizes accounting experts to study them,constantly ask for feedback,and summarize suggestions from all parties.Finally,the new version of Accounting Standards for Business Enterprises No.21-Leasing was officially issued in December 2018.The new lease standard cancels the distinction between operating lease and financial lease,and integrates them into the balance sheet for accounting,which strengthens the authenticity of accounting information quality.Since the relevant accounting items of leased assets obtained through operating lease under the old standards will not be included in the balance sheet,the accounting treatment of operating lease business and the presentation method of financial statements of supermarkets,hotels,shipping and other industries with large-scale lease business will change significantly after the implementation of the new standards.After January 1,2021,domestic listed enterprises have implemented the new leasing standards.It is extremely valuable and meaningful to study the changes in financial statements,business strategies,financing channels and other aspects of these companies after the implementation of the new standards.This paper selects Jinjiang Hotel,a representative hotel in China,as the research object to study the financial impact of the implementation of the new leasing standards.This paper first reviews the research on the new leasing standards at home and abroad through literature review,then expounds the relevant theoretical basis of the paper,and then summarizes the development history of the leasing standards and introduces the changes of the new leasing standards and the similarities and differences with the old ones in detail.Secondly,this paper roughly introduces the development of Jinjiang Hotel and the hotel industry,briefly summarizes the application of the leasing industry in this industry,and emphatically analyzes the impact of the new leasing standards on the accounting treatment and key financial indicators of Jinjiang Hotel.Finally,based on the analysis of the impact of the implementation of the new leasing standards in Jinjiang Hotel,the corresponding countermeasures are proposed.The main conclusions of this paper are as follows:(1)Compared with the original leasing standards,the implementation of the new standards makes the assets and liabilities of Jinjiang Shares increase in the same direction;(2)The prepayment of lease related expenses in the early period of the implementation of the new standards has led to a decrease in the profit level,but the profit level has gradually increased in the later period,with the total profit unchanged;(3)The total amount of cash flow statement remains unchanged,but the structure changes;(4)The financial indicators reflecting the debt repayment,operation and profitability of Jinjiang Hotel will deteriorate to varying degrees,which will affect corporate financing.In combination with the above conclusions,this paper puts forward specific suggestions for Jinjiang Hotel to improve its business strategy,change the traditional leasing model,and adjust its capital structure.