Lease Accounting Trends in Atlanta

By Robert Half May 23, 2018 at 3:10pm

LEASE ACCOUNTING TRENDS IN ATLANTA

Has your company begun the transition to the new lease accounting standard?

  Atlanta U.S.
Yes 81% 44%
No 19% 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?

  Atlanta U.S.
Yes, already completed 47% 48%
Yes, started but not completed 52% 51%
No, haven’t started 1% 1%

Have you completed the following?

  Atlanta U.S.
Identified team members and responsibilities for completing the transition to a new standard 71% 61%
Made an inventory of, and prioritized, any systems changes which might be required 46% 51%
Developed a project plan to address all gaps emanating from the diagnostic work 47% 49%
Identified, at a high level, the magnitude and type of the lease inventory (e.g., property, equipment) 38% 49%
Written new accounting policies 60% 47%
Written new accounting procedures 37% 43%
Investigated any lease or property management systems which will facilitate adoption 46% 42%

What is the most challenging aspect of the transition to the new standard?

Atlanta U.S.
1. Training staff 1. Training staff
2. Diagnosing the needed changes 2. Diagnosing the needed changes
3. Managing change 3. Finding professionals with the requisite expertise

For your company, which new accounting standard has been more challenging to adopt?

  Atlanta U.S.
Revenue recognition 48% 71%
Lease accounting 52% 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?

  Atlanta U.S.
Most of them 41% 29%
Some of them 57% 54%
Almost none of them 3% 17%

Source: Robert Half and Protiviti survey of more than 2,000 finance leaders in the United States, including 100 in Atlanta

Total may not equal 100 percent due to rounding.

© 2018 Robert Half International Inc. An Equal Opportunity Employer M/F/Disability/Veterans.

More From the Blog...

Availability Status

Let us know you're ready to work with one click.

Update My Status

Set Your Status

Click the blue button on your profile page at least once a week to keep your status set to Available.

Set Your Status

Your status will automatically change to Idle and Unknown over time, so update it weekly while you’re looking for work

Update My Status