/bLease revenue reporting on the side of lessor in connection with transfer of right to use assets (RTU) to lessee

摘要

The paper analyzed some of the approaches whose application is eligible for the recording of lease contracts on the side of lessor so that this recording display as closely as possible the essence of the lease relationship and at the same time it would be symmetrical to the way of recording on the side of lessee resulting not from value of transferred physical assets but from the evaluated right to use this asset. Impacts of individual variants of approaches into the income statement and statement of financial position are analyzed. It turns out that apparently it is not possible to apply only one approach (as it is in the case of lessee), without gross distortion of the financial position of the lessor. Some of the options of derecognition approach truly shows the situation, especially in long-term leases and leases where the risks and rewards associated with the lease are transferred to the lessee, for the other leases it is recommended sometimes to use underecognition property from the assets of the lessor during the lease period, but rather report a liability to leave to lessee to use (performance obligations approach). Compared with the current method of recording an operating lease, this approach without taking into account the cost of maintenance leads to another course of reporting profits (rise in the early stages against the growth in the final stages), but also brings a more fundamental problem, and it is overvaluation of lessor’s assets. In addition, it is possible to doubt about the correctness to report such liability as an unconditional liability. The approach is also not consistent with the IASB and the FASB project that is devoted to the recognition of revenues. The possible way, according to author’s opinion, might be regulation of existing model of reporting operating lease or derecognition approach.