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Implementation of the changes in accounting for the leases in accordance with IFRS 16 in the national accounting regulation in SR from the point of view of an lessee

Aplikace změn účetního zobrazení leasingu podle IFRS v národní účetní legislativě SR z pohledu nájemce

Miloš Tumpach, Zuzana Juhászová and Zuzana Kubaščíková

Český finanční a účetní časopis, 2019, vol. 2019, issue 1, 5-16

Abstract: The article deals with the comparability of the requirements for accounting for leases as a source of a long-term financing of lessees in accordance with the IFRS and national accounting legislation in Slovakia. Even though current Slovak legislation has been inspired by the IFRS (namely, IAS 17), no full compliance has been ever achieved. The gap between national and international regulation was even widened by the introduction of the standards IFRS 16 (which came into force in 2018). Consequently, the Slovak legislation is dealing with the task of how to resolve these differences. The article compares accounting treatments of leases (from the point of view of lessees) as required by the Slovak accounting regulation for the businesses, by the former international standard IAS 17 and also by the new standard IFRS 16. It could be concluded that the national regulation is more prone to tampering the accounting principles than both the IFRS 16 and IAS 17. On the other hand, by unifying the accounting treatment to virtually all leases (for lessees), the IFRS 16 provides more consistent and sound approach. Were there not tax related issues, the accounting regulation in Slovakia has to be changed immediately.

Keywords: IFRS 16; Leases; Slovakia; Leasing; Slovensko (search for similar items in EconPapers)
JEL-codes: M21 M48 (search for similar items in EconPapers)
Date: 2019
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Český finanční a účetní časopis, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3

DOI: 10.18267/j.cfuc.524

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