Český finanční a účetní časopis 2019(1):5-16 | DOI: 10.18267/j.cfuc.524

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

Miloš Tumpach1, Zuzana Juhászová2, Zuzana Kubaščíková3
1 Fakulta hospodárskej informatiky Ekonomickej univerzity v Bratislave, Dolnozemská cestra 1, 852 01 Bratislava, Slovenská republika
2 Fakulta hospodárskej informatiky Ekonomickej univerzity v Bratislave, Dolnozemská cestra 1, 852 01 Bratislava, Slovenská republika
3 Fakulta hospodárskej informatiky Ekonomickej univerzity v Bratislave, Dolnozemská cestra 1, 852 01 Bratislava, Slovenská republika

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
JEL classification: M21, M48

Published: August 1, 2019  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Tumpach, M., Juhászová, Z., & Kubaščíková, Z. (2019). 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. Czech Financial and Accounting Journal, 2019(1), 5-16. doi: 10.18267/j.cfuc.524
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. GINER, B., PARDO, F., 2018. The Value Relevance of Operating Lease Liabilities: Economic Effects of IFRS 16. Australian Accounting Review. Roč. 28, č. 4, s. 496-511. doi: https://doi.org/10.1111/auar.12233. Go to original source...
    2. IASB, 2017a. International Accounting Standard 17. International Financial Reporting Standards. London: IFRS Foundation.
    3. IASB, 2017b. International Financial Reporting Standard 16. International Financial Reporting Standards. London: IFRS Foundation.
    4. KETZ, J. E., 2013. Hidden Financial Risk: Understanding Off Balance Sheet Accounting. London: Wiley.
    5. KRIŠKOVÁ, P., UŽÍK, J., 2018. Rukoväť audítorských štandardov. Účtovníctvo - audítorstvo - daňovníctvo: v teórii a praxi. Roč. 26, č. 1, s. 25-26.
    6. MFSR [Ministerstvo financií Slovenskej republiky], 2002. Opatrenie Ministerstva financií Slovenskej republiky č. 23054/2002-92, ktorým sa ustanovujú podrobnosti o postupoch účtovania a rámcovej účtovej osnove pre podnikateľov účtujúcich v sústave podvojného účtovníctva pro podnikatelské subjekty.
    7. PARAJKA, B., 2015. Are information needs of financial entities served by financial statements in the Slovak Republic. In: Financial management of firms and financial institutions. Proceedings of the 10th international scientific konference. Ostrava: VŠB - Technical university of Ostrava, s. 950-957.
    8. PEPRNÍČKOVÁ, M., 2018. What Are the Origins of New Leasing Conceptual Models and How These Models Are Coming True in IFRS 16? In: PROCHÁZKA, D. The Impact of Globalization on International Finance and Accounting. Cham: Springer, s. 291-299. doi: https://doi.org/10.1007/978-3-319-68762-9_31. Go to original source...
    9. ŠLOSÁROVÁ, A., BLAHUŠIAKOVÁ, M., 2017. Analýza účtovnej závierky. Bratislava: Wolters Kluwer.

    This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content