Vol 1, No 3 (2013)
The Future of Leasing Accounting
Elidiana Bashi, Fatbardha Molla
Abstract
The purpose of the paper is to understand what are the consequences of the new standards for financial leasing to the companies that use the IFRS and operating leases, at the purpose to find out if they have done any preparation towards approaching these new standards. This study also aims to shine a light why companies use the rent and if they actively try to secure a healthy lease classification. The standards on leasing have been changing from past to now, at the main purpose to help the companies to release themselves at new standards accountings. However, worldwide as well as in Albania, to follow the pace of development of the leasing industry, will need to develop and improve lease accounting requirements, harmonized and combined with the reality that offers the Albanian market. An important element of the SME financing is not giving it directly through loans from traditional banks, but through lease financing or factoring companies. New standards of accounting this method are very important, because many companies mainly adverse this technique because of the limits that the old standard imposes. In this line, we particularly discuss the new standards on leasing contracts due to its importance to the companies, especially the SMEs.
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Keywords
IFRS; IASB; Leasing contract; SME; New standards
Publication information
Volume 1, Issue 3
Year of Publication: 2013
ISSN: 1857 - 8721
Publisher: EDNOTERA
How to cite
Bashi, E. and Molla, F. (2013). The Future of Leasing Accounting. Journal of Applied Economics and Business, Vol 1, No. 3, 65-78