NEW YORK CITY-A new method of accounting will change the level of debt New York-based companies that lease real estate and other assets will show on their balance sheets.
The change in accounting will require companies that lease real estate to disclose the amount of financing they have engaged in to lease the assets in their financial statements, according to Crain's New York Business.
According to a study by the Atlanta-based Georgia Tech Financial Analysis Lab for Crain's, five retailers with operations in New York could see a marked increase in their total reported debt because they lease significant amounts of real estate: Aéropostale, Foot Locker, Ann Taylor, Tiffany & Co., and Barnes & Noble. See story in Crain's New York Business.
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