Tesco PLC's ( LON:TSCO ) debts would be higher and earnings per share lower last year under the new accounting rules that are being introduced in 2019, the grocery giant has revealed. Republishing its last set of financial results showed that IFRS 16 standards will have no effect on sales and cash flow but the new treatment of many of its near-7,000 stores will affect profits, earnings, assets and liabilities. The new rules force companies to reflect up-front the net present value of the assets and liabilities generated by leases lasting longer than 12 months.