Consecuencias financieras de la primera aplicación de la Norma Internacional de Información Financiera N° 16 en Chile
Abstract
En enero de 2019 entró en vigencia la Norma Internacional de Información Financiera (NIIF) Nº16 sobre arrendamientos. El objetivo de este trabajo es analizar los efectos de su aplicación y para ello se estudiaron 30 empresas adscritas al Índice de Precios Selectivo de Acciones (IPSA) en Chile, identificándose las políticas contables aplicadas, así como el efecto producido en los rubros contables. También se analizó el efecto en diversos indicadores financieros. La metodología implica un enfoque cuantitativo y descriptivo y un estudio de corte transversal, de revisión de los estados financieros y sus notas. Como conclusión, se obtiene que las empresas, en general, utilizaron como política contable la retrospección modificada, con una menor proporción de ellas afectando las ganancias acumuladas en comparación con las que optaron por igualar el activo al pasivo, no modificando el patrimonio; además, la evidencia muestra que los indicadores se ven afectados por el nivel de utilización de contratos de arrendamiento. Se privilegió el proceso de convergencia antes que la comparabilidad entre las cifras, igual que en trabajos previos, que sugieren que deben existir soluciones prácticas para aplicar la norma, para una mejor calidad y utilidad de la información.
References
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Arrozio, M. M., Gonzales, A., & da Silva, F. L. (2016). Changes in the financial ratios of the wholesale and retail sector companies arising from the new accounting of the operating lease. Revista Eniac Pesquisa, 5(2), 139-159. https://doi.org/10.22567/rep.v5i2.380
Ashton, R. (1985). Accounting for finance leases: A field test. Accounting and Business Research, 15, 233-238. https://doi.org/10.1080/00014788.1985.9729269
Barral, A., Cordobés, M., & Ramírez, J. (2014). Los arrendamientos operativos:impacto de su reconocimiento en los estados financieros y en la política de financiación de las compañía españolas y de Reino Unido. Revista de Contabilidad - Spanish Accounting Review, 17(2), 212-223. https://doi.org/10.1016/j.rcsar.2014.08.001
Beattie, V., Edwards, K., & Goodacre, A.(1998). The impact of constructive operating lease capitalisation on key accounting ratios. Accounting and Business Research, 28(4), 233-254. http://dx.doi.org/10.1080/00014788.1998.9728913
Beatty, A., Liao, S., & Weber, J. (2010). Financial reporting quality, private information, monitoring, and the lease-versus-buy decision. The Accounting Review, 85(4), 1215-38. https://www.jstor.org/stable/20744157
Bryan, S., Lilien, S., & Martin, D. (2010). The financial statement effects of capitalizing operating leases: assessing the impact of the right -to-use-model. The CPA Journal, August, 36-41.
Dechow, P., Ge, W., Larson, C., & Sloan, R. (2011). Predicting material accounting misstatements. Contemporary Accounting Research, 28(1), 17-82. http://dx.doi.org/ 10.1111/j.1911-3846.2010.01041.x
Dhaliwal, D.; Lee, H., & Neamtia, M. (2011).The impact of operating leases on firm financial and operatin risk. Journal of Accounting, Auditing and Finance, 26(2), 151-197. http://dx.doi.org/10.1177/0148558X11401210
Duke, J., & Hsieh, S. (2006). Capturing the benefits of operating and synthetic leases. Corporate Accounting & Finance, 18(1), 45-52. http://dx.doi.org/10.1002/jcaf.20262
Duke, J., Hsieh, S., & Su, Y. (2009). Operating and synthetic leases: exploiting financial benefits in the post - Enron era. Advances in Accounting, 25(1), 28-39. https://doi.org/10.1016/j.adiac.2009.03.001
Durocher, S. (2008). Canadian evidence on the constructive capitalisation of operating leases, Accounting Perspectives, 7(3), 227-256. http://dx.doi.org/10.1506/ap.7.3.2
Edeigba, J., & Amenkhienan, F. (2017). The influence of IFRS adoption on corporate transparency and accountability: evidence from New Zealand. Australasian Accounting, Business and Finance Journal, 11(3), 3-19. http://dx.doi.org/10.14453/aabfj.v11i3.2
El Mercurio Inversiones; Bolsa de Santiago. (2020). Guía de emisores 2020. Ranking de las 100 empresas con mayor valor en la bolsa.
Fitó, M., Moya, S., & Orgaz, N. (2013). Considering the effects of operating lease capitalization on key financial ratios. Revista Española de Financiación y Contabilidad, 42(159), 341-369. https://doi.org/10.1080/02102412.2013.10779750
Fülbier, R., Lirio, J. & Pferdehirt, M. (2008). Impact of lease capitalisation on financial ratios of listed German companies. Schmalenbach Business Review, 122-144. http://dx.doi.org/10.2139/ssrn.918223
Giner, B., & Pardo, F. (2018). The value relevance of operating lease liabilities: economic effects of IFRS 16. Australian Accounting Review, 28(4), 496-511. https://doi.org/10.1111/auar.12233
Giner, B., Merello, P., & Pardo, F. (2019). Assessing the impact of operating lease capitalization with dynamic Monte Carlo simulation. Journal of Business Research, 101, 836-845. https://doi.org/10.1016/j.jbusres.2018.11.049
Goodacre, A. (2003). Operating lease finance in the UK retail sector. The International Review of Retail, Distribution and Consumer Research, 13(1), 99-125. http://dx.doi.org/10.1080/0959396032000065373
IASB. (2016a). Norma Internacional de Información Financiera N° 16 Arrendamientos.
IASB. (2016b). Norma Internacional de Información Financiera N° 16. Fundamento de las Conclusiones.
Himhoff, E., Lipe, R., & Wright, D. (1991). Operating leases: impact of constructive capitalization. Accounting Horizons, 5(1) 51-63.
Lambreton Torres, V., & Rivas Olmedo, E. (2017). Nueva norma de arrendamiento IFRS 16. Leases y su impacto financiero y contable, (36), 75-96.
Lanfranconi, C. & Wiedman, C. (2000). If one goes wrong, will the other follow? Operating leases and off-balance sheet accounting, Business Quarterly, 64(6), 61-67.
Magne, K., & Stenheim, T. (2019). Proposal for improved financial statements under IFRS. Cogent Business & Management, 6(1), 1-24. http://dx.doi.org/10.1080/23311975.2019.1642982
Mellado, L., & Parte, L. (2017). Determinants of corporate lobbying intensity in the lease standard-setting process. Revista de Contabilidad - Spanish Accounting Review, 20(2), 131-142. https://doi.org/10.1016/j.rcsar.2016.09.001
Morales-Diaz, J. (2018). The last IFRS reform and its effect on financial statements. Estudios De Economia Aplicada, 36(2), 349-378. https://doi.org/10.25115/eea.v36i2.2534
Morales-Diaz, J., & Zamora-Ramirez, C. (2018a). IFRS 16 (leases) implementation: impact of entities’ decisions on financial statements. Aestimatio-the IEB International Journal of Finance, (17), 60-97. http://dx.doi.org/10.5605/IEB.17.4
Morales-Diaz, J., & Zamora-Ramirez, C. (2018b). The impact of IFRS 16 on key financial ratios: a new methodological approach. Accounting in Europe, 15(1), 105-133. https://doi.org/10.1080/17449480.2018.1433307
Morales-Díaz, J., & Zamora-Ramírez, C. (2018c). Effects of IFRS on key financial ratios of spanish companies. Studies of Applied Economics, 36(2), 385-406. http://dx.doi.org/10.25115/eea.v36i2.2536
Nurkasheva, N. S., Dosmanbetova, A. S., & Zharylkasinova, M. Z. (2018). Impact of lease accounting according to international financial reporting standards on the indicators of financial statements in Kazakhstan. Journal of Applied Economic Sciences, 13(4), 979-986.
Pardo, F., & Giner, B. (2018). The capitalization of operating leases: analysis of the impact on the IBEX 35 companies. Intangible Capital, 14(3), 445-483. http://dx.doi.org/10.3926/ic.1168
S&P Dow Jones. (2019). S&P/CLX Indices. Metodología de los Índices. En: https://www.spglobal.com
S&P Dow Jones Indices. (2019). Clasificación Industrial Global Estándar (GICS®). Metodología.https://espanol.spindices.com/documents/index-policies/methodology-gics-spanish.pdf?force_download=true
Security Exchange Commission. (2005). Report and recommendations pursuant to Section 401(c) of the Sarbanes-Oxley Act of 2002 on arrangements with off-balance sheet implications, special purpose entities, and transparency of filings by issuers. https://www.sec.gov/news/studies/soxoffbalancerpt.pdf
Ucieda, J.-L. (2006). Convergencia del IASB y el FASB: ¿quimera o realidad? Revista AECA, 74, 16-21.
Van Kints, R., & Spoor, L. L. L. (2019). Leases on balance, a level playing field?. Advances in Accounting, 44, 3-9. https://doi.org/10.1016/j.adiac.2018.11.001
Veverková, A. (2019). IFRS 16 and its impacts on aviation industry. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 67(5), 1369-1377. http://dx.doi.org/10.11118/actaun201967051369
Xu, W., Davidson, R. A., & Cheong, C. S. (2017). Converting financial statements: operating to capitalised leases. Pacific Accounting Review, 29(1), 34-54. https://doi.org/10.1108/PAR-01-2016-0003
Zamora-Ramirez, C., & Morales-Diaz, J. (2018). Effects of IFRS 16 on key financial ratios of Spanish Companies. Estudios De Economia Aplicada, 36(2), 385-405. http://dx.doi.org/10.25115/eea.v36i2.2536
Zoido, J., & Vidanes, M. (2020). El impacto de la IFRS 16 Leases en la valoración de compañías. https://www.kroll.com/es-es/-/media/dp-spain/news/pdfs/impacto-de-la-ifrs-16.pdf.
Arrozio, M. M., Gonzales, A., & da Silva, F. L. (2016). Changes in the financial ratios of the wholesale and retail sector companies arising from the new accounting of the operating lease. Revista Eniac Pesquisa, 5(2), 139-159. https://doi.org/10.22567/rep.v5i2.380
Ashton, R. (1985). Accounting for finance leases: A field test. Accounting and Business Research, 15, 233-238. https://doi.org/10.1080/00014788.1985.9729269
Barral, A., Cordobés, M., & Ramírez, J. (2014). Los arrendamientos operativos:impacto de su reconocimiento en los estados financieros y en la política de financiación de las compañía españolas y de Reino Unido. Revista de Contabilidad - Spanish Accounting Review, 17(2), 212-223. https://doi.org/10.1016/j.rcsar.2014.08.001
Beattie, V., Edwards, K., & Goodacre, A.(1998). The impact of constructive operating lease capitalisation on key accounting ratios. Accounting and Business Research, 28(4), 233-254. http://dx.doi.org/10.1080/00014788.1998.9728913
Beatty, A., Liao, S., & Weber, J. (2010). Financial reporting quality, private information, monitoring, and the lease-versus-buy decision. The Accounting Review, 85(4), 1215-38. https://www.jstor.org/stable/20744157
Bryan, S., Lilien, S., & Martin, D. (2010). The financial statement effects of capitalizing operating leases: assessing the impact of the right -to-use-model. The CPA Journal, August, 36-41.
Dechow, P., Ge, W., Larson, C., & Sloan, R. (2011). Predicting material accounting misstatements. Contemporary Accounting Research, 28(1), 17-82. http://dx.doi.org/ 10.1111/j.1911-3846.2010.01041.x
Dhaliwal, D.; Lee, H., & Neamtia, M. (2011).The impact of operating leases on firm financial and operatin risk. Journal of Accounting, Auditing and Finance, 26(2), 151-197. http://dx.doi.org/10.1177/0148558X11401210
Duke, J., & Hsieh, S. (2006). Capturing the benefits of operating and synthetic leases. Corporate Accounting & Finance, 18(1), 45-52. http://dx.doi.org/10.1002/jcaf.20262
Duke, J., Hsieh, S., & Su, Y. (2009). Operating and synthetic leases: exploiting financial benefits in the post - Enron era. Advances in Accounting, 25(1), 28-39. https://doi.org/10.1016/j.adiac.2009.03.001
Durocher, S. (2008). Canadian evidence on the constructive capitalisation of operating leases, Accounting Perspectives, 7(3), 227-256. http://dx.doi.org/10.1506/ap.7.3.2
Edeigba, J., & Amenkhienan, F. (2017). The influence of IFRS adoption on corporate transparency and accountability: evidence from New Zealand. Australasian Accounting, Business and Finance Journal, 11(3), 3-19. http://dx.doi.org/10.14453/aabfj.v11i3.2
El Mercurio Inversiones; Bolsa de Santiago. (2020). Guía de emisores 2020. Ranking de las 100 empresas con mayor valor en la bolsa.
Fitó, M., Moya, S., & Orgaz, N. (2013). Considering the effects of operating lease capitalization on key financial ratios. Revista Española de Financiación y Contabilidad, 42(159), 341-369. https://doi.org/10.1080/02102412.2013.10779750
Fülbier, R., Lirio, J. & Pferdehirt, M. (2008). Impact of lease capitalisation on financial ratios of listed German companies. Schmalenbach Business Review, 122-144. http://dx.doi.org/10.2139/ssrn.918223
Giner, B., & Pardo, F. (2018). The value relevance of operating lease liabilities: economic effects of IFRS 16. Australian Accounting Review, 28(4), 496-511. https://doi.org/10.1111/auar.12233
Giner, B., Merello, P., & Pardo, F. (2019). Assessing the impact of operating lease capitalization with dynamic Monte Carlo simulation. Journal of Business Research, 101, 836-845. https://doi.org/10.1016/j.jbusres.2018.11.049
Goodacre, A. (2003). Operating lease finance in the UK retail sector. The International Review of Retail, Distribution and Consumer Research, 13(1), 99-125. http://dx.doi.org/10.1080/0959396032000065373
IASB. (2016a). Norma Internacional de Información Financiera N° 16 Arrendamientos.
IASB. (2016b). Norma Internacional de Información Financiera N° 16. Fundamento de las Conclusiones.
Himhoff, E., Lipe, R., & Wright, D. (1991). Operating leases: impact of constructive capitalization. Accounting Horizons, 5(1) 51-63.
Lambreton Torres, V., & Rivas Olmedo, E. (2017). Nueva norma de arrendamiento IFRS 16. Leases y su impacto financiero y contable, (36), 75-96.
Lanfranconi, C. & Wiedman, C. (2000). If one goes wrong, will the other follow? Operating leases and off-balance sheet accounting, Business Quarterly, 64(6), 61-67.
Magne, K., & Stenheim, T. (2019). Proposal for improved financial statements under IFRS. Cogent Business & Management, 6(1), 1-24. http://dx.doi.org/10.1080/23311975.2019.1642982
Mellado, L., & Parte, L. (2017). Determinants of corporate lobbying intensity in the lease standard-setting process. Revista de Contabilidad - Spanish Accounting Review, 20(2), 131-142. https://doi.org/10.1016/j.rcsar.2016.09.001
Morales-Diaz, J. (2018). The last IFRS reform and its effect on financial statements. Estudios De Economia Aplicada, 36(2), 349-378. https://doi.org/10.25115/eea.v36i2.2534
Morales-Diaz, J., & Zamora-Ramirez, C. (2018a). IFRS 16 (leases) implementation: impact of entities’ decisions on financial statements. Aestimatio-the IEB International Journal of Finance, (17), 60-97. http://dx.doi.org/10.5605/IEB.17.4
Morales-Diaz, J., & Zamora-Ramirez, C. (2018b). The impact of IFRS 16 on key financial ratios: a new methodological approach. Accounting in Europe, 15(1), 105-133. https://doi.org/10.1080/17449480.2018.1433307
Morales-Díaz, J., & Zamora-Ramírez, C. (2018c). Effects of IFRS on key financial ratios of spanish companies. Studies of Applied Economics, 36(2), 385-406. http://dx.doi.org/10.25115/eea.v36i2.2536
Nurkasheva, N. S., Dosmanbetova, A. S., & Zharylkasinova, M. Z. (2018). Impact of lease accounting according to international financial reporting standards on the indicators of financial statements in Kazakhstan. Journal of Applied Economic Sciences, 13(4), 979-986.
Pardo, F., & Giner, B. (2018). The capitalization of operating leases: analysis of the impact on the IBEX 35 companies. Intangible Capital, 14(3), 445-483. http://dx.doi.org/10.3926/ic.1168
S&P Dow Jones. (2019). S&P/CLX Indices. Metodología de los Índices. En: https://www.spglobal.com
S&P Dow Jones Indices. (2019). Clasificación Industrial Global Estándar (GICS®). Metodología.https://espanol.spindices.com/documents/index-policies/methodology-gics-spanish.pdf?force_download=true
Security Exchange Commission. (2005). Report and recommendations pursuant to Section 401(c) of the Sarbanes-Oxley Act of 2002 on arrangements with off-balance sheet implications, special purpose entities, and transparency of filings by issuers. https://www.sec.gov/news/studies/soxoffbalancerpt.pdf
Ucieda, J.-L. (2006). Convergencia del IASB y el FASB: ¿quimera o realidad? Revista AECA, 74, 16-21.
Van Kints, R., & Spoor, L. L. L. (2019). Leases on balance, a level playing field?. Advances in Accounting, 44, 3-9. https://doi.org/10.1016/j.adiac.2018.11.001
Veverková, A. (2019). IFRS 16 and its impacts on aviation industry. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 67(5), 1369-1377. http://dx.doi.org/10.11118/actaun201967051369
Xu, W., Davidson, R. A., & Cheong, C. S. (2017). Converting financial statements: operating to capitalised leases. Pacific Accounting Review, 29(1), 34-54. https://doi.org/10.1108/PAR-01-2016-0003
Zamora-Ramirez, C., & Morales-Diaz, J. (2018). Effects of IFRS 16 on key financial ratios of Spanish Companies. Estudios De Economia Aplicada, 36(2), 385-405. http://dx.doi.org/10.25115/eea.v36i2.2536
Zoido, J., & Vidanes, M. (2020). El impacto de la IFRS 16 Leases en la valoración de compañías. https://www.kroll.com/es-es/-/media/dp-spain/news/pdfs/impacto-de-la-ifrs-16.pdf.
Published
2022-09-23
How to Cite
Zúñiga, F., Villanueva, D., Pacheco, L., & Pincheira, R. (2022). Consecuencias financieras de la primera aplicación de la Norma Internacional de Información Financiera N° 16 en Chile. Revista Venezolana De Gerencia, 27(100), 1702-1720. https://doi.org/10.52080/rvgluz.27.100.25
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TRIMESTRE
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