ACCOUNTING AND ANALYSIS OF LEASING IN ACCORDANCE WITH THE CHANGE OF ACCOUNTING AND TAX LEGISLATION

Abstract

Currently, scientific and economic literature describes the methods of accounting and analysis of the effectiveness of leasing operations. However, with the Federal Financial Accounting Standards 25/2018 “Leasing Accounting” coming into force, the procedure of accounting of leasing operations has changed significantly. In recent years, significant changes have occurred in tax legislation: the requirements for recognition of income and expenses in tax accounting have changed; the taxation object has changed for the property tax of organizations. All this directly affects the analysis of the effectiveness of leasing operations. In this article, we consider the procedure for generating information on leasing operations in the lessee’s accounting in accordance with the norms of the new lease standard; analytical accounts are proposed for the separate reflection of leasing property and lease payment obligations. Methodological fundamentals for analyzing the effectiveness of leasing by identifying the potential costs when acquiring property using the lending and leasing mechanism are proposed. The presented analysis takes into account the changes in accounting and taxation of operations that occur when acquiring property under a leasing and sale agreement using borrowed funds, and inflation.