Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

New Lease Accounting Standards: Are companies prepared to comply?

10,608 views

Published on

New Lease Accounting Standards:Are companies prepared to comply?
Read more - http://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/few-prepared-to-comply-with-new-lease-accounting-standards.html

Published in: Business
  • Dating direct: ❶❶❶ http://bit.ly/39sFWPG ❶❶❶
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Sex in your area is here: ♥♥♥ http://bit.ly/39sFWPG ♥♥♥
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

New Lease Accounting Standards: Are companies prepared to comply?

  1. 1. New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Results from March 15, 2016
  2. 2. 2 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. Methodology More than 5,400 professionals participated in a Deloitte Dbriefs webcast, “Bring it on—Discussing the FASB’s new leases standard,” on March 15, 2016. Poll respondents work in sectors including banking and securities (11.4 percent), retail and distribution (8.2 percent), technology (7.3 percent), process and industrial products (6.9 percent), travel, hospitality and leisure (6.4 percent) and real estate (5.7 percent). To replay the Deloitte Dbriefs webcast, visit the archive online.
  3. 3. 3 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. Which lease accounting standard(s) will your organization need to comply with? Votes received: 7,890 13.7% Don’t know/not applicable IASB 2.7% Both FASB and IASB 19.4% FASB 61.3% Neither FASB nor IASB 2.9%
  4. 4. 4 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. How prepared is your company to comply with the new lease accounting standards? Votes received: 7,404 20.2% Don’t know/not applicable Extremely prepared 1.9% Very prepared 7.8% Not at all prepared 9.6% Not too prepared 26.1% Somewhat prepared 34.4%
  5. 5. 5 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. How easy or difficult do you think it will be for your company to implement the new lease accounting standards? Votes received: 6,946 18% Don’t know/not applicable Extremely easy Extremely difficult Somewhat easy Neither easy nor difficult Somewhat difficult 1.5% 5.8% 13.6% 19.9% 41.2%
  6. 6. 6 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. Will your organization invest in technology to comply with the new lease accounting standards? Votes received: 6,522 41.0% Don’t know/not applicable
  7. 7. 7 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. Which will pose the largest implementation challenge for your company’s lease accounting standards compliance efforts in the next 12 months? Votes received: 5,408 25.0% Don’t know/not applicable IT system upgrades 8.3% Educating investors and internal stakeholders on the rules' impacts to financial statements 6.7% Collecting necessary data on all organizational leases in a centralized, electronic inventory 33.4% Developing and instituting processes to evaluate quarterly adjustments/ reassessment for the balance sheet and P&L as required 20.5% Complying with both IASB and FASB standards simultaneously 6.2%
  8. 8. 8 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. How many leases does your organization currently have in its portfolio? Votes received: 7,961 22.6% Don’t know/not applicable None 1–500 3.1% 48.2% 501– 1,000 10.2% 1,001– 5,000 8.5% More than 5,000 7.5%
  9. 9. 9 New Lease Accounting Standards: Are companies prepared to comply? Deloitte Poll Copyright © 2016 Deloitte Development LLC. All rights reserved. Votes received: 7,756 Which best describes your organization? 27.3% None of the above 6.9% Don’t know/not applicable Real estate lessor 8.1% Real estate lessee 26.2% Equipment lessee 23.3% Equipment lessor 8.2%
  10. 10. 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 Advisory poll. The information obtained during the poll was taken “as is” and was not validated or confirmed by Deloitte. This presentation contains general information only and Deloitte is not, by means of this presentation, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this presentation. As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2016 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited Media contact Shelley Pfaendler Public Relations Deloitte Services LP spfaendler@deloitte.com Full press release available on Deloitte.com

×