Lease Accounting Trends in Dallas

Lease Accounting Trends in DallasLease Accounting Trends in Dallas LEASE ACCOUNTING TRENDS IN DALLASHas your company begun the transition to the new lease accounting voreingestellt?DallasU.S.Yes55%44%No45%56%Finance leaders who reported their company has begun the transition also were asked As part of that transition, have you begun the diagnostic work necessary to determine the level of effort which wil be required for you to be ready to adopt the new standard?DallasU.S.Yes, already completed35%48%Yes, started but not completed65%51%No, havent started0%1%Have you completed the following?DallasU.S.Identified team members and responsibilities for completing the transition to a new standard46%61%Made an inventory of, and prioritized, any systems changes which might be required27%51%Developed a project plan to address all gaps emanating from the diagnostic work37%49%Identified, at a high level, the magnitude and type of the lease inventory (e.g., property, equipment)47%49%Written new ac counting policies39%47%Written new accounting procedures51%43%Investigated any lease or property management systems which will facilitate adoption48%42%What is the most challenging aspect of the transition to the new standard?DallasU.S.1.Training staff1.Training staff2.Identifying, inventorying and categorizing companys leases2.Diagnosing the needed changes3.Updating technology3.Finding professionals with the requisite expertiseFor your company, which new accounting standard has been more challenging to adopt?DallasU.S.Revenue recognition67%71%Lease accounting33%29%How much of the processes and learnings from transitioning to the new revenue recognition standard have you been able to apply to adopting the new lease accounting standard?DallasU.S.Most of them31%29%Some of them66%54%Almost none of them3%17%Source Robert Half and Protiviti survey of more than 2,000 finance leaders in the United States, including 100 in DallasTotal may not equal 100 percent due to rounding.