Within a few years, new accounting standards – agreed upon by FASB and IASB and aimed at increasing transparency – may require landlords and tenants to include operating leases on their balance sheets as either assets or liabilities – a practice that is currently not commonplace.

According to an article in Shopping Centers Today, the SEC estimates that the new rules for lease liabilities could have a $1.25 trillion impact on global balance sheets. Furthermore, an independent study noted in the article estimates that the move could result in the loss of 100,000 to 200,000 U.S. jobs and reduce the country’s GDP by $27.5 billion per year.
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Among other things, opponents of the measure are concerned that including operating leases as liabilities on balance sheets will cause many tenants/businesses to violate their financing covenants with lenders, leading to less favorable renegotiated terms and possibly a reduction in commercial lending by banks.

Last Updated on October 30, 2012 by Ramin Seddiq