Lease Financial Statement Accounting Practices Types and Numbers for Hong Kong
Notice bibliographique
Résumé
ABSTRACT The purpose of this research study was to investigate existing lease disclosure practices for financial statements in Hong Kong. Part of the purpose of this project is descriptive. The study classified, summarized and analyzed the lease accounting practices for a sample of Hong Kong companies. Annual reports for a year ending during 1996 were examined to gather information about the accounting practices for leases for financial reporting in Hong Kong. The fifty companies were selected in a systematic random selection process. The fifty companies selected represent approximately nine percent of all the companies traded on the Hong Kong Stock Exchange for 1996. Some of the major conclusions from this study include the following: 1. Most Hong Kong companies are involved in lease transactions as either lessees or lessors or both. 2. The dollars committed to lease transactions are significant. 3. The profit and loss effect is, also, significant. INTRODUCTION International leasing markets are rapidly becoming a single global market. Salameh, General Manager for Hewlett Packard for Asia Pacific, Central and Eastern Europe, has recently stated that globali/ation of financing services is driven by natural globali/ation of accounts and partners (Salameh, 1997). Leasing activities have become big business. Leasing volume in the Asia Pacific area was approximately US $111 billion in 1995. Total worldwide activity exceeded US $409 billion in the same year. Four of the twenty-two largest leasing companies in the world were located in Asia in 1995. Orix Corporation in Asia was the third largest with leasing volume greater than US $8.9 billion. Leasing is one of the fastest growing segments of the US financial services industry. The US $ 147 billion in new capital leases written in 1995 was a significant 5.3% increase over the 1994 total (McConville, 1996). Most large institutional users are not satisfied with the existing levels of general disclosures by multinational firms (Taylor, 1995). This study will examine the lease accounting practices including footnote disclosures in Hong Kong. The accounting treatment for leases can be considered part of the general issue, the controversial use of off-balance sheet activities. The flexibility allowed companies under the existing general rules for leases may allow different companies to treat similar events in different ways. This inconsistent treatment may make financial comparisons very difficult. For example, certain financial measures such as solvency and debt ratios may be effected. Some companies may interpret accounting events in such a manner that the events are not reflected on the company's balance sheet. In some cases, information about an event may be disclosed in a footnote depending on certain criteria. Related accounting areas including contingencies may be effected by the procedures for leases. The treatment for leases has been particularly controversial. Some leases, if the lease meets certain rules, are classified as finance leases. In that case, an asset and liability would be included in the lessee's balance sheet. If the lease is classified as an operating lease instead of a finance lease, then only a lease or rental charge reduces the profit and loss and no balance sheet accounts are effected. Some Hong Kong companies disclose information about leases only in a footnote and, therefore, these transactions can be classified as off-balance sheet financing. A discussion paper, Accounting for a New Approach, has been published by the respective accounting standards board in Australia, Canada, New Zealand, the UK, US, and the IASC proposes that all finance leases and most, if not all, operating leases would qualify as assets and liabilities (McGregor, 1996). In Hong Kong, different groups are concerned about lease accounting practices. Many companies have been involved as lessees in Hong Kong. …
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Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,005 | 0,014 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,001 | 0,000 |
| Bibliométrie | 0,000 | 0,000 |
| Études des sciences et des technologies | 0,001 | 0,000 |
| Communication savante | 0,000 | 0,002 |
| Science ouverte | 0,000 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,001 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,000 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».