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Lease Accounting: The attitudes towards the Proposed Changes by the IASB and the FASB
Högskolan Väst, Institutionen för ekonomi och it, Avd för företagsekonomi.
2014 (Engelska)Självständigt arbete på avancerad nivå (magisterexamen), 10 poäng / 15 hpStudentuppsats (Examensarbete)
Abstract [en]

Several different accounting standards exist all over the world today. The accounting regulations used depends on the country in question and the character of the specific company. These different accounting standards have created an awareness of differences and difficulties when comparing them to each other. Because of this, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) made an agreement in 2002 with the aim to make the accounting standards International Financial Reporting Standards (IFRS) and the United States Generally Accepted Accounting Principles (US GAAP) compatible. The collaboration between the boards has shown great results so far, but there are still several remaining issues that have to be solved and the project is on-going. One of these issues is the current lease accounting standards. Both of the boards agreed upon that the existing rules concerning lease accounting is insufficient, resulting in the issuing of an exposure draft in August 2010. The first exposure draft received many comments from the public which led to the publishing of a revised exposure draft, ED/2013/6 (ED2). The purpose of this study has been to increase the knowledge of how changes in accounting standards affect the parties involved and how these changes are developed and implemented. Furthermore to answer the research questions: if the proposals under ED2 should be accepted as they are in their current form (ED2), and if there is a difference in the attitudes towards the proposals depending on if the submitters are organizations operating under the regulations of IASB or FASB. This study has been performed based on a qualitative approach where the different attitudes towards the proposals of ED2, expressed in submitted comment letters from various stakeholders were interpreted. The theoretical frame consists of scientific articles and a course book in order to cover the field of interest. Scientific articles concerning the proposals of ED2 has been included in this study along with information about the standard-setting processes of the IASB and FASB. The empirical findings of this study has been based on a collection of the comment letters that the boards received as responses towards the proposal (ED2), and in total 37 comment letters were included in this study. The comment letters submitted by professional accounting bodies has further been in focus and these provided the base for the empirical findings of the study. The overall approach expressed in the selected comment letters along with the attitudes towards a specific question has been examined. The analysis has been conducted by using the model of analysis (Chapter 3.3), and the empirical findings were put in relation to the theoretical frame. The analysis showed that the majority of the submitters have concerns regarding the proposals of ED2 and that the overall attitudes towards the proposals are negative. The main concerns for the submitters are that the proposals are too complex compared to the current rules and that the costs of implementation would exceed the benefits derived. Furthermore, this study shows that the proposals should not be accepted in their current form and that the boards have to continue their work on developing an accepted lease accounting standard. The attitudes towards the proposed changes in lease accounting do not differ depending on if the submitting organization is operating under the regulations of IASB or FASB

Ort, förlag, år, upplaga, sidor
2014. , s. 58
Nyckelord [en]
Accounting
Nationell ämneskategori
Företagsekonomi
Identifikatorer
URN: urn:nbn:se:hv:diva-6402Lokalt ID: EXD951OAI: oai:DiVA.org:hv-6402DiVA, id: diva2:731714
Ämne / kurs
Företagsekonomi
Utbildningsprogram
Ekonomprogrammet
Handledare
Examinatorer
Tillgänglig från: 2014-07-02 Skapad: 2014-07-02 Senast uppdaterad: 2014-07-02Bibliografiskt granskad

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