NEW RULES OF ACCOUNTING OF LEASING OBJECTS OF THE LEASING RECIPIENT

In the current crisis conditions in the global economy, organizations are in search for the most favorable and optimal ways of investing in fixed assets, in connection with which leasing operations are gaining wide popularity. In such a situation, it is reasonable to adopt a new federal accounting standard FSBU 25/2018 “Accounting for Leases”, which comes into force on January 1, 2022 and more fully regulates the accounting for rental operations, which include leasing contracts, and also explains the disclosure information about this in the financial statements. Specified standard is intended to replace the outdated guidelines on reflection in accounting of operations under a lease agreement, approved by the Order of the Ministry of Finance of Russia dated February 17, 1997 No. 15, and also streamlined activities in this area. This article analyzes the provisions of the two standards, gives a comparative description of new and old procedures for reflecting leasing operations with the lessee, and details the essence of the adopted changes and their impact on the activities of economic entities. Special attention is paid to the implications for tenants in connection with introduction of new standard; recommendations are given on how to reflect leasing transactions on the accounts of the lessee in accordance with FSBU 25/2018. In particular, there is a positive impact of the new standard on the transparency and completeness of reflection of leasing operations and the disclosure of information in the reporting. It should be said that the FSBU 25/2018 more clearly regulates the accounting of the facts of economic life associated with the lease agreement, reducing the impact on it of the contractual terms.

leasing, right to use an asset, investment property, lease obligations, lessee, tenant, accounting, comparison of standards.

Popravko I. V. New rules of accounting of leasing objects of the leasing recipient. Business. Education. Law, 2019, no. 2, pp. 158–162. DOI: 10.25683/VOLBI.2019.47.234.