Scientific paper ID 1808 : 2019/3

From the 1st of January 2019 the novel International Financial Reporting Standard – IFRS 16 Leases entered into force and, therefore, a single model was introduced for accounting the finance and operating leases in the case of lessees. The principal amendments are regarding the operating leases. In accordance with the alterations, leased assets ought to be classified as “right-of-use assets” and to be integrated in the lessees’ balance sheet. On the one hand, this variation refers to the necessity of augmenting the information’s comparability engage in entities’ financial reports with respect to the finance and operating leases’ accounting. On the other hand, it is dictated by the insufficient disclosure of enterprises’ information in conjunction with the operating leases. The lessors and lessees purpose consists in satisfying stakeholders’ informational needs and, in that way, providing them with trustworthy information in connection to the influence that is caused on the entity’s financial and property status by leasing contracts. This alteration in the regulatory framework will have an essential impact on part of the transport enterprises’ financial performance which realize freight and passenger carriages with rented transport means. Subject of the following report are transport enterprises with contracts regarding operating leases that do not have at disposal their own fleet and whose annual financial reports are prepared in accordance with the international accounting legislation.