A Deloitte poll conducted on May 8, 2017, surveyed over 2,150 executives regarding their preparedness for the new FASB leases standard, revealing varying degrees of readiness across industries. Key findings included concerns about compliance timelines and challenges such as data collection and system upgrades. The report highlights that organizations demonstrated differing levels of confidence in their ability to implement the standard effectively.

1. FAQs about the new FASB leases
standard: You're not alone
Deloitte Poll, results from May 8, 2017

2. Copyright © 2017 Deloitte Development LLC. All rights reserved. 2
Methodology
On May 8, 2017, a Deloitte Dbriefs webcast titled
“FAQs about the new FASB leases standard: You're
not alone” polled more than 2,150 C-suite
executives and other executives about lease
accounting implementation. Respondents largely
work in the consumer and industrial products (33.6
percent), financial services (32.8 percent) and
technology, media and telecommunications (12.2
percent) industries. Similar online polls were
conducted in March 2016 and October 2016. Answer
rates differed by question.

3. Copyright © 2017 Deloitte Development LLC. All rights reserved. 3
1.2%
6.7%
36.1%
31.2%
12.4%
3.1%
7.9%
36.2%
26.5%
8.4%
2.2%
9.2%
42.0%
24.6%
6.8%
Mar-16 Oct-16 May-17
How prepared is your organization to comply with the new lease
accounting standard? (Year-over-year)
Votes received: 2,522 (Mar. 2016); 1,231(Oct. 2016); 2,536 (May 2017)
Don’t know/not applicable= 12.4% (Mar. 2016); 17.9% (Oct. 2016); 15.2% (May 2017)
Extremely
prepared
Very prepared Not at all
prepared
Not too
prepared
Somewhat
prepared

4. Copyright © 2017 Deloitte Development LLC. All rights reserved. 4
Votes received: 1,320 (Mar. 2016); 2,562 (May 2017)
Which best describes your organization’s likely lease accounting
implementation timeline?
3.3% 7.1% 48%22%
Don’t know/not applicable: 19.6% (Mar. 2016); 19.6% (May 2017)
Early adopt,
public company
adopting faster than
timeline mandated by
regulators for publicly
traded companies
Early adopt,
private organization
adopting faster than
timeline mandated by
regulators for privately
held organizations
Adopt on schedule,
public company
adopting on timeline
mandated by regulators
for publicly traded
companies
Adopt on schedule,
private organization
adopting on timeline
mandated by regulators
for privately held
organizations
4% 3.8% 32.3%40%
Mar. 2016
May 2017

5. Copyright © 2017 Deloitte Development LLC. All rights reserved. 55
How concerned are you about your organization’s ability to
implement the new lease accounting standard by the chosen or
required date?
Very concerned
5.8%
Votes received: 2,531
13.5% Don’t know/not applicable
41.3% 39.4%
Somewhat concerned Not concerned

6. Copyright © 2017 Deloitte Development LLC. All rights reserved. 6
How easy or difficult do you think it will be for your company to
implement the new lease accounting standard?
Votes received: 2,368 (Mar. 2016); 2,373 (May 2017)
Don’t know/not applicable: 11.6% (Mar. 2016); 13.4% (May 2017)
1.8%
15.2%
21.1%
43.7%
6.7%
1.6%
9.8%
23.0%
46.5%
5.7%
Extremely easy Somewhat easy Neither easy nor
difficult
Somewhat difficult Extremely difficult
Mar-16 May-17

7. Copyright © 2017 Deloitte Development LLC. All rights reserved. 7
Which will pose the largest implementation challenge for your
company’s lease accounting standard compliance efforts in the
next 12 months?
Votes received: 1,889 (Mar. 2016); 2,153 (May 2017)
Don’t know/not applicable: 19.5% (Mar. 2016); 19.6% (May 2017)
35.6%
23.2%
7.4%
6.6%
7.7%
34.4%
22.7%
10.8%
6.5%
6.0%
Collecting necessary data on all
organizational leases in a centralized,
electronic inventory
Developing and instituting processes to
evaluate quarterly adjustments/reassessment
for the balance sheet and P&L as required
IT system upgrades
Complying with both IASB and FASB
standards simultaneously
Educating investors and internal stakeholders
on the rules' impacts to financial statements
Mar-16 May-17

8. Copyright © 2017 Deloitte Development LLC. All rights reserved. 8
Shelley Pfaendler
Public Relations
Deloitte Services LP
spfaendler@deloitte.com
Full press release available on Deloitte.com
Media contact

9. The statements in this report reflect the aggregation of poll responses and are not intended to reflect facts or opinions of
any entities. All data, charts and statistics referenced and presented, as well as the representations made and opinions
expressed, unless specifically described otherwise, pertain only to the participants and their responses to the Deloitte poll.
The information obtained during the poll was taken “as is” and was not validated or confirmed by Deloitte.
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Copyright © 2017 Deloitte Development LLC. All rights reserved.