The impact of constructive operating lease capitalization on key accounting ratios
The publication of FRS5 will be accompanied by a change in the UK's lease accounting regulations which do not currently require operating leases to be capitalized in lessees' accounts. A new study investigates the impact of lease capitalization on important financial ratios, including company cash flows and market valuations. It is shown that operating leases are an important component of long-term financing. Details of the study are presented.
Publication Name: Accounting and Business Research
Operating leases and the assessment of lease-debt substitutability
Issues related to substitutability between non-lease debt and leasing for British companies are examined in detail.
Publication Name: Journal of Banking & Finance
Recognition versus disclosure: An investigation of the impact on equity risk using UK operating lease disclosures
The effects of disclosure on equity risk is examined.
Publication Name: Journal of Business Finance and Accounting
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