A study written by ÁrpádTóth, a doctoral student of SzEEDSM was published in the Hungarian Statistical Review, the English language journal of the Hungarian Central Statistical Office. In his article, ÁrpádTóth discusses how the capitalisation impact of off-balance sheet items under the new IFRS 16-based lease accounting could be measured in Hungary, and why that would be necessary.
As a result of the co-operation agreement concluded between the Pallas Athéné Foundations and the SzéchenyiIstván University in Győr, an English language doctoral program started in 2016 in the field of economics and management (SzEEDSM) under the leadership of professor GyulaVarga. It is the very objective of SzEEDSM to provide locally accessible, yet globally acknowledged and relevant knowledge to the students. The values of the doctoral school are built upon co-operation agreements concluded with economic players, international relations, the openness to new solutions, and the application of the latest trends and technologies in education.
It is a great strength of SzEEDSM that in addition to the excellent Hungarian teachers – as a result of the support provided by the Pallas Athéné Domus Sapientiae Foundation (PADS) – internationally renowned university professors also participate in the work of the teaching community and share their valuable knowledge with the doctoral students. Thanks to the contribution of PADS, students can receive a scholarship in a differentiated system, based on their performance. The training is organised on weekends, making it available for full-time employees, too.
Both specialisations of the program provide a unique training in Hungary. The Transdisciplinary specialisation, by teaching various disciplines (economics, complex systems, cultural anthropology) prepares students for real program solving; whereas at the Management specialisation, production and service provision-related management and the analysis of supply chains are in the focal point. Besides the venues of the SzéchenyiIstvánUniversity of Győr, the House of Wisdom also provides a location for the doctoral program.
The doctoral school has excellent students, such as ÁrpádTóth, whose study was recently published in the Hungarian Statistical Review, the English-language journal of the Hungarian Central Statistical Office. In the article, ÁrpádTóth discusses the application of IFRS 16, which has been effective since 2019. The key objective of the relevant changes is to minimise operational lease-related off-balance sheet items, thus increasing IFRS reporting of company liabilities. Given that about 85% of all global lease contracts are estimated to be operational leases, the impact of these changes cannot be overstated.
In 2016, prior to the issuance of IFRS 16, the International Accounting Standard Board prepared an impact assessment based on a sample of 1,022 publicly traded companies. The present value of future payments for off-balance sheet leases for these companies amounted to USD 1.6 trillion. In order to forecast the impact of the changes caused by the introduction of IFRS 16, proper systematic data collection is required; however, there is no current statistical data covering this area. ÁrpádTóth’s study aims at identifying a way to collect such information.