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Tekijä:Goodacre, A.
Otsikko:Operating lease finance in the UK retail sector
Lehti:International Review of Retail, Distribution and Consumer Research
2003 : JAN, VOL. 13:1, p. 99-126
Asiasana:LEASING
FINANCE
BALANCE SHEETS
BUSINESS RATIOS
ACCOUNTING
Kieli:eng
Tiivistelmä:The paper documents the importance of leasing in the UK retail sector and estimates the potential balance sheet impact of new accounting proposals to bring all leases onto lessees' balance sheets. Off-balance sheet operating leases are shown to be a major source of finance, and far more important (3.3 times higher) than on-balance sheet long-term debt; by contrast, finance leases are immaterial. Operating leased assets, the major part of which is 'land and buildings' (98%), represent a significant proportion (28%) of reported total assets. Capitalization of operating leases would have a major impact on nine key per- formance ratios and would alter the ranking of companies markedly.
SCIMA tietueen numero: 248066
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