This is the conclusion of , which covered 2,800 businesses globally. It found that 54% of global businesses "are not aware of, and are therefore unprepared for, one the most significant global accounting changes in the past decade: the virtual elimination of off-balance sheet leases."

It found that U.S. companies were most aware -- registering 69% recognition -- but it considers that percentage small compared to the potential size of the issue. Globally, of those companies that were aware, 33% acknowledged that cost and complexity would increase as a result, but only 12% said they would change the way they structure leases in the future. And just 15% thought it would increase transparency, one of the intended goals of the proposed revisions.

The Financial Accounting Standards Board and the International Accounting Standards Board both are for review next year. And Grant Thornton, for one, said in its report that it considers engagement in the process by companies critical. Investors, too, need to consider how much transparent the new models will make lease accounting activities, and whether financial statements covering them will be easier to use.

The Securities and Exchange Commission estimated in a 2005 report that the undiscounted value of future lease payments among U.S. listed companies stood at $1.25 trillion, according to the accounting firm.