International lease-accounting reform and economic consequences: The views of U.K. users and preparers

VIVIEN A. BEATTIE · Alan Goodacre · Sarah Jane Thomson

91 citations0/0 files storedThe International Journal of Accounting

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Accounting Theory and Financial Reporting Auditing, Earnings Management, Governance Accounting and Financial Management

Abstract

In response to perceived difficulties with extant lease-accounting standards in operation worldwide, the G4+1 issued a discussion paper which proposes that all leases should be recognized on the balance sheet [ASB (1999). Leases: Implementation of a new approach, discussion paper. London: Accounting Standards Board]. Leasing is now on the active agenda of the IASB. A major difficulty faced by standard setters lies in overcoming the preparer/user lobbying imbalance and obtaining ex ante evidence on the likely impact of regulatory reform. This paper contributes to the ongoing international debate by conducting a questionnaire survey of U.K. users and preparers to assess their views on proposals for lease-accounting reform and on the potential economic consequences of their adoption. The results, based on 132 responses, indicate that both groups accept that there are deficiencies in the current rules, but they do not agree on the way forward and believe that the proposals would lead to significant economic consequences for key parties. The impact on respondents' views of familiarity with the proposals, level of lease usage, and company size, is also examined.

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References

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2009Relevance of Academic Research and Researchers' Role in the IASB's Financial Reporting Standard Setting 2008Canadian Evidence on the Constructive Capitalization of Operating Leases*2011Corporate Lobbying in Private Accounting Standard Setting: Does the IASB have to Reckon with National Differences?2014Lease Accounting: A Review of Recent Literature 2015The Impact of Lease Capitalisation on Financial Statements and Key Ratios: Evidence from Australia 2020Lobbying during IASB and FASB convergence due processes: Evidence from the IFRS 16 project on leases

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