Hyun Kyung Chatfield, Robert E. Chatfield, Percy Poon
{"title":"酒店业准备好迎接新租赁会计准则了吗?","authors":"Hyun Kyung Chatfield, Robert E. Chatfield, Percy Poon","doi":"10.1080/10913211.2017.1398955","DOIUrl":null,"url":null,"abstract":"ABSTRACT The days where companies can use off-balance sheet leases are coming to an end. The new lease accounting standards, ASU 842 and IFRS 16, released in early 2016, will be effective, respectively, on December 15, 2018, and January 1, 2019. Under the new standards, virtually all leases will be recognized on a lessee’s balance sheet. Hence, financial statements and ratios of companies that heavily use off-balance sheet leases will be considerably impacted. Our analysis of the off-balance sheet leases by the hospitality industry indicates that hospitality companies do extensively use these operating leases, which amounted to 51% of their assets in 2015. The expected widespread unfavorable impact on a lessee’s debt ratios and interest coverages could also affect a hospitality company’s borrowing rates and debt covenants. Given that the implementation is most likely time consuming, not just costly, the earlier the hospitality companies are prepared for the new standards the better.","PeriodicalId":249000,"journal":{"name":"The Journal of Hospitality Financial Management","volume":"4 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2017-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Is the Hospitality Industry Ready for the New Lease Accounting Standards?\",\"authors\":\"Hyun Kyung Chatfield, Robert E. Chatfield, Percy Poon\",\"doi\":\"10.1080/10913211.2017.1398955\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT The days where companies can use off-balance sheet leases are coming to an end. The new lease accounting standards, ASU 842 and IFRS 16, released in early 2016, will be effective, respectively, on December 15, 2018, and January 1, 2019. Under the new standards, virtually all leases will be recognized on a lessee’s balance sheet. Hence, financial statements and ratios of companies that heavily use off-balance sheet leases will be considerably impacted. Our analysis of the off-balance sheet leases by the hospitality industry indicates that hospitality companies do extensively use these operating leases, which amounted to 51% of their assets in 2015. The expected widespread unfavorable impact on a lessee’s debt ratios and interest coverages could also affect a hospitality company’s borrowing rates and debt covenants. Given that the implementation is most likely time consuming, not just costly, the earlier the hospitality companies are prepared for the new standards the better.\",\"PeriodicalId\":249000,\"journal\":{\"name\":\"The Journal of Hospitality Financial Management\",\"volume\":\"4 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2017-07-03\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"The Journal of Hospitality Financial Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/10913211.2017.1398955\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Journal of Hospitality Financial Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/10913211.2017.1398955","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Is the Hospitality Industry Ready for the New Lease Accounting Standards?
ABSTRACT The days where companies can use off-balance sheet leases are coming to an end. The new lease accounting standards, ASU 842 and IFRS 16, released in early 2016, will be effective, respectively, on December 15, 2018, and January 1, 2019. Under the new standards, virtually all leases will be recognized on a lessee’s balance sheet. Hence, financial statements and ratios of companies that heavily use off-balance sheet leases will be considerably impacted. Our analysis of the off-balance sheet leases by the hospitality industry indicates that hospitality companies do extensively use these operating leases, which amounted to 51% of their assets in 2015. The expected widespread unfavorable impact on a lessee’s debt ratios and interest coverages could also affect a hospitality company’s borrowing rates and debt covenants. Given that the implementation is most likely time consuming, not just costly, the earlier the hospitality companies are prepared for the new standards the better.