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Lease Accounting and Debt Covenants

$ 45.5

Published: 2021-12-22
Category: Biznes i Ekonomia
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This book comes to keep up with the recent international debate concerning lease accounting reform provided by both the FASB and the IASB. The placement of lease accounting information within financial statements would affect users’ perceptions of its reliability, as they usually depend on the information apparent on the face of financial statements and fail to process the information disclosed in the notes. Consequently, it is essential to modify the accounting treatment of operating leases to be capitalized as suggested by the IFRS 16, or at least improve the current disclosure so that providing more detailed and transparent lease information.
One of the motives behind firms resorting to leasing is to avoid debt covenants. Debt covenants play a vital role in mitigating agency problems that result from the conflict of interest between shareholders and creditors. Previous studies showed that the objective of debt covenants is to limit managerial actions that increase the shareholders' equity at the expense of decreasing the value of external debts.

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