Consequences of a Change in the Accounting Rules Concerning Lease Contracts in Europe - Opinions and Predictions
The European leasing industry is highly concerned by recent developments in theaccounting of lease contracts.LEASEUROPE fears that a profound change to the principles governing the accountingof lease contracts would have serious consequences for the industry in continentalEurope. The Federation is concerned that new regulations are being introduced in a hastyand inappropriate manner. LEASEUROPE looks upon leasing as a specific productwhich allows small and medium sized enterprises to acquire the goods necessary toconduct their business. The « leasing » product, developed in all LEASEUROPE membercountries, exhibits significant differences from one country to the next but also points incommon. From the civil law angle, the lessor is considered to be the owner of the leasedasset. In bankruptcy he, as a rule, is entitled to retrieve his assets. Fiscally speaking, it isclear that the lessor depreciates the assets and that the leasing payments are counted asoperating expenses which are in most cases 100% deductible from taxable income.Leasing is a specific product governed by legal, fiscal and accounting provisions whichare unique to each member country of LEASEUROPE. The accounting legislationprevailing in the various countries is satisfactory and there is no major reason to justifydisturbing the regulations in this area.
Alternative title: | Konsequenzen einer Änderung der Bilanzierungsregeln, die Leasingverträge in Europa betreffen |
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Year of publication: |
1996-03-01
|
Authors: | Koberg, Peter |
Publisher: |
Forschungsinstitut für Leasing <Köln> |
Subject: | Rechnungswesen | Business accounting | Leasingvertrag | Europäische Integration | European Integration |
Saved in:
Extent: | 129024 bytes 57 p. application/pdf |
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Series: | Mitteilungen und Berichte ; 23 (1996) |
Type of publication: | Book / Working Paper |
Language: | English |
Classification: | Leasing, Factoring. Special cases of financing ; Accounting and auditing. General ; Individual Working Papers, Preprints ; Europe. General Resources |
Source: | USB Cologne (business full texts) |
Persistent link: https://www.econbiz.de/10005844907
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