Amendments to IAS 17 accounting for leases: Its effects on the financial statements of lessee-airline companies

Date of Publication

2012

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Accountancy

Subject Categories

Accounting

College

Ramon V. Del Rosario College of Business

Department/Unit

Accountancy

Thesis Adviser

Aaron C. Escartin

Defense Panel Member

Ma. Gina T. Manaligod

Florenz Tugas

Abstract/Summary

The latest proposed amendments to IAS 17 Accounting for Leases since the release of the Exposure Draft last August 17, 2010 will give rise to a new and more transparent presentation of the lease transactions companies are engaged in. Lessors and lessees alike are required to change their treatment and measurement of the assets, liabilities, income and expenses related to these transactions to achieve the standard-setting bodies goal of proper lease accounting. This study focuses on the effects of the latest proposed amendments on lessee-airline companies wherein leasing is a common transaction. Affected financial statement accounts and financial ratios from years 2008 to 2010 are restated, compared, and tested for significant differences. The results of the study show the implications should the latest proposed amendments supersede the current accounting standard for leases.

Abstract Format

html

Language

English

Format

Electronic

Accession Number

CDTU019176

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

1 computer optical disc ; 4 3/4 in.

Keywords

Aeronautics, Commercial--Finance; Airlines--Philippines--Finance

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