اوجه التشابة والاختلاف بين معيار بين المعيار المصرى والمعيار الدولى للتاجير التمويلى؟

اوجه التشابة والاختلاف بين معيار بين المعيار المصرى والمعيار الدولى للتاجير التمويلى

What are the similarities and differences between the Egyptian standard and the international standard for financial leasing?"

The similarities and differences between the Egyptian standard and the international standard for financial leasing can be summarized as follows:

Similarities:

1. Definition of Financial Lease: Both the Egyptian and international standards recognize a financial lease as a lease agreement where the risks and rewards of ownership are transferred to the lessee, even though the legal ownership may not be transferred.
2. Classification Criteria: Both standards typically focus on the key criteria for classifying a lease as a financial lease, such as:

• The lease term is for a significant portion of the asset's useful life.
• The lessee has the option to purchase the leased asset at a bargain price.
• The present value of lease payments is substantially equal to or greater than the fair value of the leased asset.

Accounting Treatment: In both standards, the lessee records a leased asset and a corresponding liability on the balance sheet at the commencement of the lease. The lessee also recognizes depreciation of the leased asset and interest on the lease liability. Disclosures: Both standards require adequate disclosure of lease terms, liabilities, and financial effects in the financial statements.

Differences:

1. Terminology:

• The international standard often refers to IFRS 16 (International Financial Reporting Standards), which applies globally.
• The Egyptian standard might use different terminology or be influenced by local accounting standards or regulations (e.g., Egyptian Accounting Standards).

Specific Provisions:

• The Egyptian standard might include certain local provisions or exceptions that are not present in the international standard. For example, local tax or legal considerations could impact the way financial leases are treated in Egypt.
• The international standard might be more detailed in terms of guidance on specific leasing scenarios (e.g., sale and leaseback transactions, operating vs. financial lease distinctions).

Transitional Guidelines:

• The international standard, particularly IFRS 16, provides specific guidelines on how to transition from previous standards to the new financial leasing accounting treatment, whereas the Egyptian standard may follow local updates with different transitional rules.

Impact on Financial Ratios:

• While both standards aim to reflect the financial impact of leasing arrangements, the application of local tax laws and other regulations in Egypt might affect the recognition of lease liabilities and assets differently from the international approach.

Conclusion:

While the core principles of financial leasing are largely aligned between the Egyptian and international standards, there may be nuances in terms of application, terminology, and specific local provisions that reflect the differing regulatory environments in Egypt compared to international practices.