<abstract xmlns="http://www.w3.org/1999/xhtml">

In accordance with the provisions of the International Financial Reporting Standard IFRS 16 “Leases”, as of January 1, 2019, insurance and reinsurance companies, non-bank financial institutions, credit institutions, brokerage companies, but also companies listed on the Bucharest Stock
Exchanges which have the quality of both tenants and lessors, must present in the annual reports relevant information regarding the transactions within the leasing contracts.
The study pursued two objectives, the identification of information on the application of IFRS 16 published in the annual reports issued in the period 2020-2021, by 30 non-financial entities out of a total of 62 listed at the date of the study at BVB, and the evaluation of how leases were reported and their impact on the financial statements.
Regarding the publication of information on the application of IFRS 16, it turned out that it was heterogeneous, in various forms. Thus, only three companies published information on leases both as lessor and lessees in both reporting years (10% of the total), 14 companies specified in both reporting years about the application of the standard only as tenants (47% of the total), nine specified about the application of the standard as tenants only in the 2019 annual report (30% of the total), and four did not specify any information on its application in none of the reporting years (13% of the total).
In terms of reporting the impacting figures the expenses determined by the leasing contracts on the financial statements, seven companies presented with data and figures from the tenant position in both years (23%), 10 only for 2019 (33% ), only two for 2020 (7%), and 11 did not present any figures (37%).
</abstract>

In accordance with the provisions of the International Financial Reporting Standard IFRS 16 “Leases”, as of January 1, 2019, insurance and reinsurance companies, non-bank financial institutions, credit institutions, brokerage companies, but also companies listed on the Bucharest Stock
Exchanges which have the quality of both tenants and lessors, must present in the annual reports relevant information regarding the transactions within the leasing contracts.
The study pursued two objectives, the identification of information on the application of IFRS 16 published in the annual reports issued in the period 2020-2021, by 30 non-financial entities out of a total of 62 listed at the date of the study at BVB, and the evaluation of how leases were reported and their impact on the financial statements.
Regarding the publication of information on the application of IFRS 16, it turned out that it was heterogeneous, in various forms. Thus, only three companies published information on leases both as lessor and lessees in both reporting years (10% of the total), 14 companies specified in both reporting years about the application of the standard only as tenants (47% of the total), nine specified about the application of the standard as tenants only in the 2019 annual report (30% of the total), and four did not specify any information on its application in none of the reporting years (13% of the total).
In terms of reporting the impacting figures the expenses determined by the leasing contracts on the financial statements, seven companies presented with data and figures from the tenant position in both years (23%), 10 only for 2019 (33% ), only two for 2020 (7%), and 11 did not present any figures (37%).

The Implementation of the International Financial Reporting Standard (IFRS 16 - “Leases”) by companies listed on the Bucharest Stock Exchange

The Bucharest University of Economic Studies

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution 4.0 International License.

In accordance with the provisions of the International Financial Reporting Standard IFRS 16 “Leases”, as of January 1, 2019, insurance and reinsurance...

The Implementation of the International Financial Reporting Standard (IFRS 16 - “Leases”) by companies listed on the Bucharest Stock Exchange

Published Online: Aug 08, 2022

Page range: 879 - 886

DOI: https://doi.org/10.2478/picbe-2022-0082

Keywords
IFRS, non-financial entities, standard, annual reporting, leases, tenant, lessor

© 2022 Alexandru Vrejoiu, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

The Implementation of the International Financial Reporting Standard (IFRS 16 - “Leases”) by companies listed on the Bucharest Stock Exchange

Published Online: Aug 08, 2022

Page range: 879 - 886

DOI: https://doi.org/10.2478/picbe-2022-0082

KeywordsIFRS, non-financial entities, standard, annual reporting, leases, tenant, lessor

© 2022 Alexandru Vrejoiu, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
IFRS, non-financial entities, standard, annual reporting, leases, tenant, lessor