Bezhan M.V.Sevastopol Branch of Plekhanov Russian University of Economics, Sevastopol, Russian Federation mm180883@mail.ru
Moskaleva V.A.Sevastopol Branch of Plekhanov Russian University of Economics, Sevastopol, Russian Federation vlada0601@mail.ru
Subject The article considers issues related to generation of accounting information on the use of financial instruments in lease transactions. Objectives The purpose of the study is to reveal the possibility of use of financial instruments in lease transactions, providing for a reflection of changes in market conditions in the financial results of the lessor and the lessee. Methods One of significant achievements of the positive theory of accounting is the understanding that all agreements are concluded under market economy conditions. Therefore, the theory of contracts and the relevant concept of relative property rights redefine the system of lease relations. Results We propose two models to account for financial instruments in lease transactions, i.e. a model for option accounting in finance lease and a model for forward contract accounting in operating lease. The latter model is developed in addition to requirements of IFRS 16 Leases that consider using only options. Conclusions The offered models for financial instruments accounting enable to record accounting processes of lease relationship in the structure of financial market participants' relationships, which is one of conditions of market relations development.
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