FINANCIJSKI IZVJEŠTAJI KAO PODLOGA ZA OCJENUPOSLOVANJA LEASING DRUŠTAVA

professional thesis

• Author: Ivana Kalčiček
• Mentor: Sanja Sever Mališ (mentor)
• Committee member: Katarina Žager (član povjerenstva)
• Committee member: Sanja Sever Mališ (član povjerenstva)
• Committee member: Boris Tušek (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2016, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Accounting

Abstract

Analiza financijskih izvještaja predstavlja važan instrument za ocjenu sigurnosti i uspješnosti
poslovanja leasing društava koja se nalaze u ulozi najmodavaca. Najam kao sve prisutniji
način financiranja nabave dugotrajne imovine, u uvjetima dinamične poslovne okoline,
najmoprimcima omogućuje povećanje konkurentnosti kroz primjenu suvremene tehnologije.
Najam, odnosno leasing, najčešće se koristi kod financiranja nabave osobnih i gospodarskih
vozila, postrojenja, strojeva, transportnih uređaja i opreme. Vlasništvo nad imovinom kod
stupanja u leasing odnose sporedna je kategorija. Dvije osnovne vrste najma su financijski i
operativni najam za koje su u radu istražene temeljne razlike te iskazani računovodstveni i
porezni učinci primjene kod najmodavaca i najmoprimaca. Za mala i srednja poduzeća,
leasing predstavlja pristupačniji instrument financiranja imovine od klasičnog zaduživanja, a
pogodnosti postojećeg računovodstvenog evidentiranja poslovnog najma omogućuju im
izvanbilančno financiranje, odnosno prikrivanje stvarnog stanja zaduženosti. Prijedlog novog
računovodstvenog tretmana najmova ima za cilj osigurati priznavanje cjelokupne imovine i
obveza proizašlih iz ugovora o najmu kod najmodavaca i najmoprimaca. Učinci
računovodstvenog tretmana najmova odražavaju se u financijskim izvještajima najmodavaca
i najmoprimaca koji služe kao podloga za analizu korisnicima financijskih izvještaja, posebno
analitičarima i investitorima. Prema rezultatima provedene analize, za leasing djelatnost
karakteristična je ovisnost o tuđim izvorima financiranja, odnosno visok stupanj zaduženosti i
smanjena likvidnost. Pokazatelji aktivnosti upućuju na to da se kod leasing djelatnosti,
tijekom jedne poslovne godine, imovina sporo pretvara u prihode. Leasing tržište u Republici
Hrvatskoj ostvarivalo je uzlazne trendove sve od 2009. g. od kada se bilježi smanjenje
obujma poslovanja leasing društava praćeno kroz visinu aktive. Navedeno je povezano s
posljedicama ekonomske krize koja je uvjetovala manju sklonost poduzeća za širenjem i
nabavom nove imovine, a takav trend i dalje traje. Ono što zahtjeva daljnju opreznost je
činjenica slabljenja većine pokazatelja leasing društava u 2014. g.

Abstract (english)

Financial Statement Analysis represents an important instrument for evaluating business
safety and success of leasing companies that are in the role of lessors. Lease as
increasingly common method of financing the procurement of fixed assets, in terms of a
dynamic business environment, allows lessees to increase competitiveness through the
application of modern technology. Lease is most commonly used for financing procurement
of personal and commercial vehicles, facilities, machinery, transportation equipment and
equipage. Property ownership in leases relations is secondary category. Two basic types of
leases are financial and operating lease for which ones the paper shows the fundamental
differences and indicates accounting and tax impacts with lessor and lessee. For small and
medium-sized enterprises, leases represents more accessible instrument for assets
financing than classical borrowing. The benefits of the existing operating lease accounting
recording enable them off-balance sheet financing or concealment of the actual state of
indebtedness. The proposal of the new accounting treatment of leases is aimed at ensuring
the recognition of all assets and liabilities arising from lease agreements with lessors and
lessee. The effects of the accounting treatment of leases are reflected in the financial
statements of lessors and lessee that serve as analysis basis to the users of the financial
statements, especially to analysts and investors. According to the results of the analysis
conducted, leasing activity is characterized by dependence on external sources of funding,
high level of debt and reduced liquidity. The activity ratios show that in the leases activity,
assets are slowly converted in revenue during one year. Lease market in Croatia achieved
growing trends since 2009, since when is recording a decrease in business volume of
leasing companies tracked by the amount of assets. The above is related to the
consequences of the economic crisis, which has caused lower tendency of enterprises for
expansion and acquisition of new assets, and this trend still continues. What requires further
caution is the fact that there is weakening of most indicators of leasing companies in 2014.

• Keywords: analiza financijskih izvještaja; ocjena poslovanja; leasing društvo; najmodavac; najmoprimac; financijski najam; operativni najam
• Keywords (english): financial statement analysis; business evaluation; the leasing company; lessor; lessee; finance lease; operating lease
• Language: croatian
• URN:NBN: urn:nbn:hr:148:103191
• Study programme: Title: Accounting and Taxation; Study programme type: university; Study level: postgraduate specialist; Academic / professional title: sveučilišni/a specijalist/specijalistica računovodstva i poreza (sveučilišni/a specijalist/specijalistica računovodstva i poreza)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2016-05-12 17:22:42