US Executives seem unprepared to deal with changes to lease accounting rules proposed by the IASB. According to Deloitte research only 7% of respondents questions believed their company was prepared for the possible changes. The firm questioned over 280 Executives throughout the US. The suggested changes require more details to be included in financial reports, such as how to account for leases related to property and equipment.
It is clearly evident that many US companies are concerned. The compliance issues that would accompany the proposed changes would greatly impact financing, lease lengths and property strategy. More than 40% of respondents believe the new standards would make it difficult to obtain financing in the future.
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