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Pwc Survey Highlights Readiness For New Lease Accounting

by jacob596 on Apr 26, 2011

In February, 2011 Price Waterhouse Coopers (PWC) conducted a survey on the impact of GAAP and IFRS convergence, with a specific segment of the survey dedicated to the proposed changes to the standard for accounting for leases. With the scheduled release of the final standard in the second quarter of 2011, it is interesting how many businesses have not begun the process of evaluating or preparing for the impact of the changes. A few of the highlights of the survey are outlined below:

Highlights of PWC Survey on Impact of Proposed Changes to Lease Accounting
• 1,400 Respondents
• 62% >than $1.0B in Revenue
• 65% expect “High Level of Impact” on organization
• 63% expect to need additional resources
• 60% have not completed even a high level assessment or analysis
• 64% do not have a centralized system to track leases
• 60% are using a spreadsheet or manual system
• 9% have calculated an estimate of Lease...Read More >>



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