THE EFFECT OF TAS 17 “LEASING” STANDARD AND IMPLEMENTATION OF THE NEW IFRS 16 “LEASES” STANDARD ON THE AIRLINE COMPANIES

According to TAS 17 "Leasing", assets and liabilities subject to financial leasing agreement are indicated in the balance sheet whereas assets and liabilities arising from operational leasing contracts are excluded from the balance sheet. IFRS 16 "Leases", issued by the IASB in January 2016 and effective from 2019, has resulted in the termination of this separation and it provides the amounts arising from operational lease contracts, accounted for as an asset and liability in the balance sheet as well. In this study, how to account for the leasing transactions within the scope of TAS 17 & IFRS 16 and the effects on the balance sheet have been examined and the issue has been endeavored to be evaluated considering the aviation sector.

Keywords:

Financial leasing, operational leasing, airline companies, Turkish accounting standards international financial reporting standards, leasing transactions,

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