新租赁会计准则对承租人企业价值及其评估的影响

The Impact of the New Lease Accounting Standards on the Lessee’s Enterprise Value and Its Evaluation

本文系统分析了新租赁会计准则实施对承租人企业价值及其评估过程的影响路径。在运用市场法评估承租人企业价值中,本文分析了新租赁会计准则的实施对可比企业及价值比率选择的影响;在运用收益法评估承租人企业价值中,本文深入研究了新租赁会计准则的实施对承租人净利润、自由现金流以及股权价值的作用机理;在运用资产基础法评估承租人企业价值中,本文重点阐述了基于新租赁会计准则对承租人使用权资产和租赁负债的评估要点。

This paper systematically analyzes the impact path of the implementation of the new lease accounting standards on the lessee’s enterprise value and its evaluation process. In using the market method to evaluate the lessee’s enterprise value, this paper analyzes the impact of the implementation of the new lease accounting standards on comparable companies and the choice of value ratios;in using the income method to evaluate the lessee’s enterprise value, this paper deeply studies the new lease accounting standards Implement the mechanism of action on the lessee’s net profit, free cash flow and equity value;in using the asset-based approach to assess the lessee’s enterprise value,this paper focuses on the assessment of the lessee’s right-of-use assets and lease liabilities based on the new lease accounting standards.