5-Minute Lease Accounting Readiness Survey

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* 1. Which of the following best describes the current state of your lease accounting project?

We have completed the project

We are ahead of schedule

We are on schedule

We are behind schedule

We have not started

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* 2. How many total leases do you have across your business?

Less than 100

Between 100 and 500

Between 500 and 1000

Between 1000 and 5000

More than 5000

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* 3. What percentage of your total leases (from question #2) are real estate (versus IT, fleet, equipment, etc.)?

75-100% Real Estate

50-75% Real Estate

25-50% Real Estate

0-25% Real Estate

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* 4. Which of the following steps have you completed in your lease accounting project? (Select all that apply)

We have assigned a project manager

We have defined a project plan

We have assigned an executive sponsor

We have secured a formal budget

Other (please specify)

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* 5. Which of the following groups are playing a strategic role in your lease accounting project? (Select all that apply)

Accounting and/or Financial Reporting

Corporate Real Estate

Procurement

Treasury

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* 6. How far have you progressed in collecting your lease accounting data? (Select all that apply)

We have defined the list of data that we need to collect

We have taken an inventory of our lease portfolio

We have collected a sample of data or a sample of leases

We have collected more than 50% of our leasing data

We have collected all of our leasing data

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* 7. How far have you progressed in your lease accounting software strategy? (Select all that apply)

We have defined a strategy

We have issued an RFP

We have selected a vendor

We are in the process of loading data and implementing software

We are finished testing and in production

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* 8. Which of the following types of software vendors are you considering? (Select all that apply)

Our current real estate system vendor

Our current ERP system vendor

Our current asset management vendor

A new best-of-breed, lease accounting vendor

Spreadsheets

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* 9. What approach are you taking to implement the new lease accounting standards?

We will primarily use in-house resources

We will use a "Big Four" firm to help (PwC, EY, Deloitte or KPMG)

We will use our real estate firm to help

We will use ProNexus to help

Other (please specify)

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* 10. Which of the following is proving a significant implementation challenge? (Select all that apply)

Finding and collecting the data

Upgrading and/or deploying software

Modifying busines sprocesses, policies and controls

Making the accounting policy elections, judgments, etc.

Project managing the overall work effort

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* 11. Which of the following categories of leases are proving the most challenging to find and analyze? (Select all that apply)

Real estate leases

IT, fleet and other equipment leases

International leases written in foreign languages and/or with foreign currencies

Embedded leases contained within outsourcing and service contracts

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* 12. Our lease accounting project is more complex than we originaly anticipated.

Strongly Agree

Agree

Disagree

Strongly Disagree

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* 13. How does the level of effort to comply with ASC 842 compare to the level of effort your organization invested in ASC 606 for revenue recognition?

Lease accounting is requiring more effort

Revenue recognition required more effort

They both required comparable levels of effort

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* 14. What, if anything, should FASB change to ease the implementation and on-going compliance burden?

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* 15. All survey participants are eligible to receive an electronic $5 Starbucks gift card. If you would like to receive your card please enter an email address below. Thank you!