The impact of operating leasing recognition in the balance sheet: the case of brazilian airlines companies Tam and Gol

Leasing transactions are used by companies as a way to get capitalized. However, this type of transaction can be classified in two types: financial and operating, in which the operating leasing works as a rent and financial leasing resembles a financed purchase. The most important difference in the accounting model is that the operating lease is not included in the balance sheet. FASB, aware of this possibility of distortion in financial reports, joined IASB to discuss the best way to solve the problem. The councils decided provisionally that the lessees must register operating leasing assets and liabilities. In this context, this paper examined the balance sheet of TAM and GOL in the years 2007 to 2009, considering that airlines companies are major users of operating leasing in the "acquisition" of aircrafts. The balance sheets were adjusted using values reported in the explanatory notes. Significant changes in assets and liabilities amounts were detected in both companies, and similar changes were detected in financial indicators that assist the user of accounting information in the process of decision making. Thus, we conclude that the recognition of operating leasing will give greater transparency to the financial statements. However, it must be measured if this situation applies to any lease contract or only for large ones, as those of airlines.