Shopping Centers Today International

DEC 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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126 S C T / D e c e m b e r 2 0 1 5 ust as retailers are arguably in the best fiscal shape in a decade, they are about to get hit with billions of dollars in "new" liabilities, thanks to lease-accounting rules set to come from the world's two accounting boards over this next year. the stated goal is transparency by unmasking the many off-balance- sheet leasehold obligations public companies typically hold. esti- mates of the proposed impact indicate that the s&P 500, which includes dozens of major retailers, would shift some $1.5 trillion in lease transactions to the balance sheet as debt. J tenant trePiDatiOn New lease-accouNtiNg rules Next year coulD have big ramificatioNs for retailers, restauraNts aND other busiNesses By Steve McLinden the financial accounting standards board, which oversees u.s accounting stan- dards, and the international accounting standards board, which has charge in the european union and upwards of 100 countries, have been collaborating on these revi-

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