LEASE ACCOUNTING STANDARD ADOPTION AT PRIVATE COMPANIES, BY COMPANY SIZE
Has your company begun the transition to the new lease accounting standard?
| Yes, completed | Yes, started but not completed | No | |||
|---|---|---|---|---|---|
| NATIONAL | 56% | 26% | 18% | ||
| 20-49 employees | 38% | 21% | 41% | ||
| 50-99 employees | 51% | 27% | 23% | ||
| 100-249 employees | 53% | 28% | 19% | ||
| 250-499 employees | 62% | 23% | 14% | ||
| 500-999 employees | 63% | 29% | 9% | ||
| 1,000+ employees | 61% | 28% | 11% |
CFOs who reported their company hasn’t completed the transition also were asked the question below:
How concerned are you about meeting the deadline?
| Very concerned | Somewhat concerned | Not at all concerned | ||
|---|---|---|---|---|
| NATIONAL | 18% | 44% | 39% | |
| 20-49 employees | 0% | 43% | 57% | |
| 50-99 employees | 17% | 40% | 43% | |
| 100-249 employees | 14% | 43% | 43% | |
| 250-499 employees | 18% | 32% | 50% | |
| 500-999 employees | 11% | 57% | 31% | |
| 1,000+ employees | 42% | 47% | 12% |
What is the most challenging aspect of the transition to the new standard?
(Answer options included: diagnosing the needed changes; finding professionals with the requisite expertise; identifying, inventorying and categorizing company’s leases; managing change; training staff; updating technology)
| NATIONAL | Training staff | |
| 20-49 employees | Training staff | |
| 50-99 employees | Managing change | |
| 100-249 employees | Training staff | |
| 250-499 employees | Managing change, updating technology (tie) | |
| 500-999 employees | Training staff | |
| 1,000+ employees | Finding professional with the requisite expertise |
CFOs who reported their company has completed the transition also were asked the questions below:
Which of the tools did you use for first-year compliance with the new lease accounting standard?
| NATIONAL |
| Cutting-edge, advanced technologies 59% |
| Spreadsheets 52% |
| Lease accounting software 49% |
| Paper-based records 39% |
| 20-49 employees |
| Cutting-edge, advanced technologies 43% |
| Spreadsheets 24% |
| Lease accounting software 52% |
| Paper-based records 52% |
| 50-99 employees |
| Cutting-edge, advanced technologies 47% |
| Spreadsheets 39% |
| Lease accounting software 39% |
| Paper-based records 31% |
| 100-249 employees |
| Cutting-edge, advanced technologies 46% |
| Spreadsheets 41% |
| Lease accounting software 52% |
| Paper-based records 38% |
| 250-499 employees |
| Cutting-edge, advanced technologies 54% |
| Spreadsheets 64% |
| Lease accounting software 45% |
| Paper-based records 30% |
| 500-999 employees |
| Cutting-edge, advanced technologies 70% |
| Spreadsheets 61% |
| Lease accounting software 53% |
| Paper-based records 44% |
| 1,000+ employees |
| Cutting-edge, advanced technologies 74% |
| Spreadsheets 57% |
| Lease accounting software 50% |
| Paper-based records 43% |
Which tool did you rely on most?
| NATIONAL |
| Cutting-edge, advanced technologies 40% |
| Spreadsheets 24% |
| Lease accounting software 22% |
| Paper-based records 14% |
| 20-49 employees |
| Cutting-edge, advanced technologies 33% |
| Spreadsheets 10% |
| Lease accounting software 33% |
| Paper-based records 24% |
| 50-99 employees |
| Cutting-edge, advanced technologies 36% |
| Spreadsheets 28% |
| Lease accounting software 28% |
| Paper-based records 8% |
| 100-249 employees |
| Cutting-edge, advanced technologies 32% |
| Spreadsheets 23% |
| Lease accounting software 27% |
| Paper-based records 18% |
| 250-499 employees |
| Cutting-edge, advanced technologies 41% |
| Spreadsheets 29% |
| Lease accounting software 18% |
| Paper-based records 13% |
| 500-999 employees |
| Cutting-edge, advanced technologies 44% |
| Spreadsheets 25% |
| Lease accounting software 20% |
| Paper-based records 10% |
| 1,000+ employees |
| Cutting-edge, advanced technologies 46% |
| Spreadsheets 24% |
| Lease accounting software 15% |
| Paper-based records 16% |
If you plan to change your approach to compliance in future years, which tool do you anticipate relying on most?
| NATIONAL |
| Cutting-edge, advanced technologies 41% |
| Lease accounting software 25% |
| Spreadsheets 18% |
| Paper-based records 11% |
| Not planning to change 5% |
| 20-49 employees |
| Cutting-edge, advanced technologies 52% |
| Lease accounting software 19% |
| Spreadsheets 0% |
| Paper-based records 24% |
| Not planning to change 5% |
| 50-99 employees |
| Cutting-edge, advanced technologies 42% |
| Lease accounting software 28% |
| Spreadsheets 17% |
| Paper-based records 3% |
| Not planning to change 11% |
| 100-249 employees |
| Cutting-edge, advanced technologies 36% |
| Lease accounting software 36% |
| Spreadsheets 14% |
| Paper-based records 13% |
| Not planning to change 2% |
| 250-499 employees |
| Cutting-edge, advanced technologies 43% |
| Lease accounting software 18% |
| Spreadsheets 21% |
| Paper-based records 16% |
| Not planning to change 2% |
| 500-999 employees |
| Cutting-edge, advanced technologies 34% |
| Lease accounting software 19% |
| Spreadsheets 31% |
| Paper-based records 10% |
| Not planning to change 7% |
| 1,000+ employees |
| Cutting-edge, advanced technologies 44% |
| Lease accounting software 27% |
| Spreadsheets 15% |
| Paper-based records 7% |
| Not planning to change 7% |
CFOS who reported their company has started or completed the transition also were asked the question below:
How do you anticipate staffing future lease accounting compliance initiatives?
| NATIONAL |
| Combination of internal and external resources 47% |
| Internal resources only 39% |
| External resources only 14% |
| 20-49 employees |
| Combination of internal and external resources 46% |
| Internal resources only 33% |
| External resources only 21% |
| 50-99 employees |
| Combination of internal and external resources 44% |
| Internal resources only 40% |
| External resources only 16% |
| 100-249 employees |
| Combination of internal and external resources 31% |
| Internal resources only 53% |
| External resources only 17% |
| 250-499 employees |
| Combination of internal and external resources 53% |
| Internal resources only 34% |
| External resources only 13% |
| 500-999 employees |
| Combination of internal and external resources 51% |
| Internal resources only 35% |
| External resources only 14% |
| 1,000+ employees |
| Combination of internal and external resources 54% |
| Internal resources only 36% |
| External resources only 10% |
Source: Robert Half and Protiviti survey of more than 500 private company CFOs in the United States; totals may not equal 100 percent due to rounding
*Multiple responses were allowed.
© 2019 Robert Half International Inc. An Equal Opportunity Employer M/F/Disability/Veterans.
