A new lease accounting standard has handed companies a huge task,but a recent survey by EY and the Financial Executives ResearchFoundation suggests businesses are already getting to work.

The new standard, issued by the Financial Accounting Standards Board in February,requires companies to include leases on the balance sheet for thefirst time.

The survey of more than 125 CFOs and other finance executivesfound that the vast majority are familiar with the new standard,and almost half have taken some steps to begin to prepare, such asassessing the company's readiness or starting to inventory thecompany's lease data.

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Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.