Sean Moynihan of Avison Young The days when lease accounting required nothing more than a spreadsheet will soon be gone, Moynihan says.

ATLANTA—Nearly two years ago, Avison Young’s Sean Moynihan warned that “many companies will be blindsided” by the new lease accounting standards, which are due to begin taking effect in December 2018, and that preparing for the changes should begin as soon as possible. A new study from AY finds that the majority of companies still lag when it comes to managing the impact of the new rules from the Financial Accounting Standards Board and the International Accounting Standards Board.