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LeasingWorld | Media

LeasingWorld magazine is a world leader for leasing news and analysis. Because we see our leasing industry as a global community, we tailor our output to satisfy the whole of the leasing world, right across the globe.

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Most Finance & Accounting Leaders Still Need a Dedicated Software System for the New Leases Standards

FEI Daily | 09/4/2018

by Olivia Berkman

According to a recent global survey, over 70 percent of lessees and lessors do not yet have a dedicated software system able to handle the new Leases Standards required changes.

Organizations are challenged to assess needs, design specifications, and oversee the implementation of new IT solutions, and time is running out. According to new research by Deloitte, most finance and accounting leaders plan to finalize the design of required changes by mid-year 2018 and complete implementation by December 31, 2018. Despite this, over 70 percent of finance and accounting leaders do not yet have a dedicated software system able to handle the new Leases Standards (IFRS 16 and ASC 842) required changes.

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