Halfway through their first year of reporting under a new lease accounting standard, only about one-fourth of public company executives said their implementation activities connected with the new standard were complete.
That was the outcome of a June Webcast poll at Deloitte, which found just 26.3 percent of public companies participating in the Webcast regarded their implementation of Accounting Standards Codification Topic 842 on lease accounting to be substantially complete. Of participants with public companies, nearly one-third said they felt their organizations were only “somewhat prepared,” and 8 percent said they were unprepared.
