Open AccessIntroduction of IFRS 16 and its expected impact on the financial position of companies listed on the Warsaw Stock Exchange
Author(s) -
Tomasz Iwanowicz
Publication year - 2018
Publication title -
zeszyty teoretyczne rachunkowości
Language(s) - English
Resource type - Journals
eISSN - 2391-677X
pISSN - 1641-4381
DOI - 10.5604/01.3001.0012.0375
Subject(s) - earnings before interest, taxes, depreciation, and amortization , stock exchange , leverage (statistics) , business , accounting , estate , finance , position (finance) , financial system , earnings , machine learning , computer science
The purpose of this paper is to answer the question about the expected changes in average EBITDA, financial leverage and total assets value that will take place after the introduction of IFRS 16, and wheth-er these changes will be the same for all companies - and if not, to what extent they will be different. The research was based on the sample of 172 companies listed on the Warsaw Stock Exchange, however, only in the case of 23% of them, the consolidated financial statements contained all the relevant infor-mation necessary to carry out the calculations. The calculations were based on 80 consolidated financial statements published for the years 2015-2016 prepared by 40 companies whose shares, at the time of conducting the research, were listed on the Warsaw Stock Exchange. The analysis used a division into companies from the following nine WIG indices: construction, chemistry, energy, IT, media, motoriza-tion, real estate, fuels and food. The research allowed a determination of the expected changes in EBITDA, financial leverage and total assets value, and presented differences in these changes between companies from the above indices.