ACCOUNTING AND FINANCIAL ASPECTS OF LEASE IN THE CONTEXT OF GLOBAL CHALLENGES

Анотація

The relevance and timeliness of the research topic confirms the need to form an effective system of accounting for the lease of fixed assets in the context of the global crisis, the decline in the solvency of tenants and changes in national and international regulations governing the procedure for lease transactions and lease payments. The purpose of the study is to identify and analyze the problematic issues of accounting for the lease of fixed assets and their reflection in the financial statements under national and international standards under the influence of the identified global challenges. IFRS 16 provides for the possibility to change lease payments during the lease term. In the event of a material change, the subsequent accounting involves the exercise of judgment and depends on many factors, including whether the change was specified in the original terms of the lease. In addition, changes may occur immediately by amending the lease agreement or indirectly as a result of government measures in response to global challenges. In accordance with IAS 36 “Impairment of Assets”, the focus is on determining the possible impairment of right-of-use assets (for lessees) and property, plant and equipment subject to operating leases (for lessors). And also, on the disclosure in the financial statements of information about the impact of changes in lease payments due to crisis phenomena on the financial position and financial performance of the entity.

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