Access the FASB’s Codification Research System at the FASBwebsite (WWW.fasb.org). Determine the specific citation...

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Accounting

Access the FASB’s Codification Research System at the FASBwebsite (WWW.fasb.org). Determine the specific citation foraccounting for each of the following items: Required: 1. Definitionof initial direct costs. 3. The disclosures required in the notesto the financial statements for a lessor. Please include paragraphsin codification

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Ans 1 Initial Direct Costs Only those costs incurred by the lessor that are a costs to originate a lease incurred in transactions with independent third parties that i result directly from and are essential to acquire that lease and ii would not have been incurred had that leasing transaction not occurred and b certain costs directly related to specified activities performed by the lessor for that lease Those activities See Answer

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In: AccountingAccess the FASB’s Codification Research System at the FASBwebsite (WWW.fasb.org). Determine the specific citation for...Access the FASB’s Codification Research System at the FASBwebsite (WWW.fasb.org). Determine the specific citation foraccounting for each of the following items: Required: 1. Definitionof initial direct costs. 3. The disclosures required in the notesto the financial statements for a lessor. Please include paragraphsin codification