Lease Accounting Trends in San Diego

Lease Accounting Trends in San Diego Lease Accounting Trends in San Diego LEASE ACCOUNTING TRENDS IN SAN DIEGOHas your company begun the transition to the new lease accounting voreingestellt?San DiegoU.S.Yes62%44%No38%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?San DiegoU.S.Yes, already completed28%48%Yes, started but not completed72%51%No, havent started0%1%Have you completed the following?San DiegoU.S.Identified team members and responsibilities for completing the transition to a new standard70%61%Made an inventory of, and prioritized, any systems changes which might be required29%51%Developed a project plan to address all gaps emanating from the diagnostic work25%49%Identified, at a high level, the magnitude and type of the lease inventory (e.g., property, equipment) 67%49%Written new accounting policies27%47%Written new accounting procedures25%43%Investigated any lease or property management systems which will facilitate adoption25%42%What is the most challenging aspect of the transition to the new standard?San DiegoU.S.1.Updating technology1.Training staff2.Identifying, inventorying and categorizing companys leases2.Diagnosing the needed changes3.Training staff3.Finding professionals with the requisite expertiseFor your company, which new accounting standard has been more challenging to adopt?San DiegoU.S.Revenue recognition79%71%Lease accounting21%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?San DiegoU.S.Most of them36%29%Some of them61%54%Almost none of them4%17%Source Robert Half and Protiviti survey of more than 2,000 finance leaders in the United States, including 100 in San DiegoTotal may not equal 100 percen t due to rounding.