International Accounting

Specifics of economic analysis of leasing companies

Vol. 21, Iss. 6, JUNE 2018

Received: 19 October 2017

Received in revised form: 15 November 2017

Accepted: 30 November 2017

Available online: 15 June 2018


JEL Classification: G23

Pages: 714–731

Kovalev V.V. Saint-Petersburg State University, St. Petersburg, Russian Federation

ORCID id: not available

Voronova E.A. Saint-Petersburg State University, St. Petersburg, Russian Federation

ORCID id: not available

Importance The article considers leasing companies, their financial position and specifics of its evaluation.
Objectives The purpose of the study is to develop and systematize the main parameters of economic analysis of leasing companies preparing their financial statements under IFRS and RAS.
Methods The methodology rests on systematization and analysis of theoretical and methodological approaches described in academic papers on economic analysis of leasing companies by Russian scientists and researchers, and corresponding reporting standards. We also employ general scientific methods, like analysis and synthesis, comparison, deduction and induction, as well as ratio analysis and qualitative parameter analysis.
Results The paper describes the specifics of economic analysis of leasing companies; establishes a number of significant differences in the analysis based on RAS and IFRS financial statements; systematizes and presents main parameters to evaluate leasing companies. We offer our own valuation model from the position of the creditor of lease transactions, identify criteria of quantitative parameters and qualitative elements of the model.
Conclusions The valuation model is a universal tool to evaluate finance and property of leasing companies without being bound to any particular sector or branch in the leasing market. The model may be useful for specialists working in different companies and having lease companies as counterparties, for instance, by commercial banks making decisions about lending to lease company borrowers.

Keywords: economic status, leasing, portfolio, equity, asset


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