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Lease Accounting Survey

Preparing for implementation


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The new lease accounting standard proposed by the Financial Accounting Standards Board (FASB) fundamentally changes the rules that govern accounting for both equipment and real estate leases. Under the FASB proposal, companies would be required to recognize the assets and liabilities resulting from leases of more than 12 months in duration based on the present value of lease payments. Among its many provisions, the proposed lease accounting standard also affects the disclosure requirements for the recognition of lease-related expenses and income.

To better understand the expected impacts and implementation issues that may result from the FASB’s proposed lease accounting standard, Deloitte conducted a survey in June 2013 of 138 executives at companies that are lessees or lessors. The companies participating represented a wide variety of industries, including 44 percent with annual revenues of $500 million or greater (“larger companies”), and 56 percent with annual revenues of less than $500 million (“smaller companies”). The current survey follows a 2011 Deloitte survey of real estate lessees and lessors about the first lease accounting exposure draft.

Learn more about the survey’s findings, including how companies generally remain no more prepared to comply with the new standard than they were two years ago.

 

As used in this document, “Deloitte” means Deloitte Transactions and Business Analytics LLP and Deloitte & Touche LLP, which are separate subsidiaries of Deloitte LLP. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. 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.

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