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Após anos de controvérsia sobre o tratamento contabilístico das locações, com o propósito de garantir uma maior credibilidade e transparência do relato financeiro destas, foi publicada pelo IASB a norma IFRS 16 – Locações, que veio substituir o anterior normativo, IAS 17. A nova norma internacional das locações, que entrou em vigor a 1 de janeiro de 2019, determina, na perspetiva do locatário, que todos os contratos de locação sejam reconhecidos no balanço da entidade, excluindo assim o tratamento contabilístico dual das locações existente na IAS 17 tão contestado. Posto isto, o principal objetivo da presente dissertação é averiguar os impactos reais da implementação do novo normativo contabilístico das locações na análise financeira das empresas pertencentes aos índices IBEX 35 e IBEX Medium Cap, nomeadamente através do estudo de dez rácios económico-financeiros. O estudo de empresas cotadas espanholas é particularmente interessante, uma vez que existem evidências de um lobby por parte destas contra a adoção da nova norma internacional. Deste modo, foram recolhidos os relatórios e contas consolidadas das empresas compõem a amostra e, posteriormente, procedeu-se ao cálculo dos rácios selecionados, com e sem o impacto da IFRS 16. Os principais resultados obtidos demonstram que a implementação da IFRS 16 gerou impactos significativos em nove dos dez rácios em análise na presente investigação. Adicionalmente, foi possível concluir que, dependendo do regime de transição adotado pela empresa, poderá verificar-se uma escassez de dados que condicionará os utilizadores das demonstrações financeiras na análise financeira a estas empresas.
After years of controversy over the accounting treatment for leases, with the aim of ensuring a greater credibility and transparency in their financial reporting, IFRS 16 – Leases was published by IASB, which replaced the previous standard, IAS 17. The new financial reporting standard for leases, which came into effect on 1 January 2019, establishes, from the lessee’s perspective, that all lease contracts must be recognized on the company’s balance sheet, excluding, thereby, the dual accounting treatment that existed under IAS 17. Thus, the main purpose of the present dissertation is to study the real impacts of the implementation of the new lease accounting standard in the financial analysis of the companies belonging to the spanish stock market indexes, IBEX 35 and IBEX Medium Cap, in particular through the study of ten economic and financial ratios. To achieve this goal, the consolidated financial statements of the companies included in the sample were collected and, subsequently, the selected ratios were calculated, with and without the impact of IFRS 16. The major results reveal that IFRS 16 implementation produces significant impacts in nine of the ten ratios under analysis in the present investigation. Additionally, it was possible to conclude that, depending on the transition approach adopted by the entity, a scarcity of data can be verified, which will constrain the users of the financial statements in the financial analysis of these companies.
After years of controversy over the accounting treatment for leases, with the aim of ensuring a greater credibility and transparency in their financial reporting, IFRS 16 – Leases was published by IASB, which replaced the previous standard, IAS 17. The new financial reporting standard for leases, which came into effect on 1 January 2019, establishes, from the lessee’s perspective, that all lease contracts must be recognized on the company’s balance sheet, excluding, thereby, the dual accounting treatment that existed under IAS 17. Thus, the main purpose of the present dissertation is to study the real impacts of the implementation of the new lease accounting standard in the financial analysis of the companies belonging to the spanish stock market indexes, IBEX 35 and IBEX Medium Cap, in particular through the study of ten economic and financial ratios. To achieve this goal, the consolidated financial statements of the companies included in the sample were collected and, subsequently, the selected ratios were calculated, with and without the impact of IFRS 16. The major results reveal that IFRS 16 implementation produces significant impacts in nine of the ten ratios under analysis in the present investigation. Additionally, it was possible to conclude that, depending on the transition approach adopted by the entity, a scarcity of data can be verified, which will constrain the users of the financial statements in the financial analysis of these companies.
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IFRS 16 Locações Análise financeira Leases Financial analysis