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New Lease Accounting Standards Market Readiness Survey
- 1. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY May 2016 Research conducted by On behalf of
- 2. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Impact of Stopping Leasing 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% End of "Casual Fridays" Reduced capital expenditures Reduced cash flow Delayed equipment acquisitions Higher TCO If you had to stop or drastically curtail your leasing activities, what potential effects might be in play? <Click all that apply>
- 3. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Readiness for New Standard 0% 10% 20% 30% 40% 50% 60% Ready Preparing Exploring Not started How well prepared would you say your organization is to comply with the new lease accounting standards? Ready = We know everything we need to know and have systems in place Preparing = We are currently studying the changes and will be implementing systems imminently Exploring = We’re just beginning to come up to speed Not Started = There’s a new lease accounting standard?
- 4. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Pain Anticipated from Compliance 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Root Canal Surgery Extremely Painful Pretty Painful Slightly Painful Not Painful On the following scale, please rate the anticipated challenge for your firm will likely face from the new lease accounting rules.
- 5. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Ownership of Equipment Leasing Who in your organization is responsible for the success of your equipment leasing program? 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Treasury Accounting Not Sure Procurement
- 6. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Ownership by Size of Leasing Portfolio 0% 5% 10% 15% 20% 25% 30% 35% Less than $10M $10M-‐$50M $51M-‐$200M More than $200M Who in your organization is responsible for the success of your equipment leasing program? ”Not Sure” Who Owns the Equipment Leasing Program
- 7. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Tracking Equipment Leases How long would it take you to determine the total number of operating (equipment) leases your company has? 0% 5% 10% 15% 20% 25% 30% 35% Couple of months Couple of weeks Couple of days Few minutes
- 8. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Tracking by Size of Leasing Portfolio 0% 10% 20% 30% 40% 50% 60% 70% Few minutes Couple of days Couple of weeks Couple of months Companies with $50M to $200M in Equipment Leases How long would it take you to determine the total number of operating (equipment) leases your company has?
- 9. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Tracking by Size of Leasing Portfolio 0% 10% 20% 30% 40% 50% 60% 70% Few minutes Couple of days Couple of weeks Couple of months Companies with more than $200M in Equipment Leases How long would it take you to determine the total number of operating (equipment) leases your company has?
- 10. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Storing Equipment Lease Records In what format do you store and track your lease records? 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Paper A little of everything Database-‐driven application Spreadsheets
- 11. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Storing Records by Size of Portfolio 0% 10% 20% 30% 40% 50% 60% 70% Less than $10M $10M to $50M $50M to $200M Greater than $200M Multiple Databases Don't Know Which of the following best describes the records for your equipment leasing program? ””Multiple Database and Departments or Don’t Know” By size of Leasing Portfolio
- 12. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Sourcing Maturity How confident are you that your organization gets the best possible leasing rates and terms? 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Would Not Bet on It Somewhat Confident Very Confident Absolutely Certain
- 13. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY End-of-Term Tracking When an equipment lease reaches end-of-term, how do you know? 0% 10% 20% 30% 40% 50% 60% 70% 80% Lessor Notifies After Keep Paying Lessor Notifies Before People Track
- 14. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY This Survey Was Conducted by In March 2016
- 15. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Survey Demographics - Organizations Accounting Finance Treasury Tax Which functional organization do you belong to?
- 16. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Demographics – Number of Leases 0-‐250 More than 1000 251-‐1000 No idea Approximately how many pieces of equipment does your company lease?
- 17. NEW LEASE ACCOUNTING STANDARDS MARKET READINESS SURVEY Demographics – Dollars of Leasing Less than $10M $10M to $50M Over $200M $50M to $200M What is the approximate amount of your annual operating (equipment) lease obligation?