Question: Access the FASBs Codification Research System at the FASB website (www.fasb.org). Determine the specific seven- or eight-digit Codification citation (XXX-XX-XX-X) for accounting for each of

Access the FASB’s Codification Research System® at the FASB website (www.fasb.org). Determine the specific seven- or eight-digit Codification citation (XXX-XX-XX-X) for accounting for each of the following items:

1. Definition of initial direct costs.

2. When a modification to a contract is reported as a separate contract (that is, separate from the original contract).

3. The disclosures required in the notes to the financial statements for a lessor. 4. The classification criteria for when a lessee classifies a lease as a finance lease and a lessor classifies a lease as a sales-type lease.

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1 Direct starting costs These are charged for the costs incurred by the lessor in connection with the arrangement and the filling of the completed rental fee conditions for these costs 2 If contract c... View full answer

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