This is a Codification assignment with two parts due on the 25th of this month or Monday.

AC323\tIntermediate\tAccounting\tIII\t-\tCodification\tAssignment\t-\tTotal\tvalue\t=\t270\tpoints. Please\tnote\tthis\tassignment\thas\t2\tparts. To\tsuccessfully\tanswer\tboth\tparts,\tyou\twill\tneed\tto access the FASB Accounting Standards Codification with the link and credentials provided below\tvia\tthe\tAmerican\tAccounting\tAssociation. http://aaahq.org/ascLogin.cfm FASB\tCodification\tStudent\tAccess\tCredentials Username\t-\tAAA58259 Password\t-\tF8ue3AK PART\t1:\tDetermine\tthe\tspecific\tcodification\tcitation\tfor\teach\titem\t1\t-\t4\tlisted\tbelow.\tList\tspecific references\tusing\tthe\tcodification\taddress\tmethodology\t(i.e.\t\"FASB\tASC\t470-10-50-1\").\tThis\tassignment can\talso\tbe\tfound\tin\tyour\ttextbook\ton\tpage\t903\tAssignment\tE\t15-32. (Value\t=\t5\tpoints\teach\t=\t20\tTotal for\tPart\t1)\tHint:\tFor\tpart\tI,\tyou'll\treference\tASC\tsection\t840. 1. Definition\tof\tbargain\tpurchase\toption. 2. The\tcalculation\tof\tthe\tlessor's\tgross\tinvestment\tin\ta\tsales-type\tlease. 3. The\tdisclosures\trequired\tin\tthe\tnotes\tto\tthe\tfinancial\tstatements\tfor\tan\toperating\tlease. 4. The\tdisclosures\tnecessary\tin\tthe\tnotes\tto\tthe\tfinancial\tstatements\tif\tthe\toperating\tlease\thas\ta\tlease term\tgreater\tthan\tone\tyear. PART\t2:\tWritten\tAssignment\t-Total\tvalue\t250\tpoints\tfor\tPart\t2.\tPlease\tprovide\twritten\tdiscussion\t(1\t-\t2 pages)\tcovering\tthe\tfollowing\titems. Read\tabout\tand\tfamiliarize\tyourself\twith\tthe\tnew\tleases\tstandard\t(ASC\ttopic\t842)\ton\tpages\t917927\tof\tyour\ttextbook. Public\tcompanies\twill\thave\tto\tstart\tcomplying\twith\tthis\tnew\tleases standard\tfor\tcalendar\tyear\t2019\t(2020\tfor\tall\tother\tcompanies). After\treading\tabout\tthe\tnew leases\tstandard\tin\tyour\ttextbook, reference\tthe\tAccounting\tStandards\tCodification\t(ASC)\tas\tit relates\tto\tASU\t2016-02,\tfound\tin\tASC\tsection\t842,\tLeases. After\tfamiliarizing\tyourself\twith\tthe new\tleases\tstandard\tin\tthe\ttextbook\tand\tfinding\tASC\tsection\t842\tonline,\tdiscuss\tthe\tfollowing points:\t(1)\tthe\tright-of-use\tmodel;\t(2)\tthe\tfive\trequirements\tfor\ta\tlessee\tto\tclassify\ta\tlease\tas\ta finance\tlease\tand\tthe\tsame\tlease\tfor\tthe\tlessor\tas\ta\tsales-type\tlease,\t(3)\tthe\tlease\tclassification alternative\tfor\ta\tlessee\twhen\trequirements\tin\tpart\t(2)\tare\tnot\tmet,\t(4)\tthe\tlease\tclassification alternatives\tfor\ta\tlessor\twhen\trequirements\tin\tpart\t(2)\tare\tnot\tmet,\t(5)\tthe\trequirements\tfor accounting\tfor\ta\tlease\tmodification\tas\ta\tseparate\tcontract,\tand\t(6)\tthe\trequirement\tfor\tan\tentity when\ta\tlease\tmodification\tis\tnot\taccounted\tfor\tas\ta\tseparate\tcontract. (70\tpoints) At\tleast\ttwo\treferences\t(textbook\tand\tASC\tat\ta\tminimum)\tmust\tbe\tutilized. Hint: The\tAICPA's Journal\tof\tAccountancy\tis\tan\tEXCELLENT\treference\tfor\tyou. The\treferences\tshould\tbe\tproperly listed\ton\ta\tseparate\tsheet\tof\tpaper\tunder\ta\theading\tlabeled\t\"References\"\t(10\tpoints).\tThey\tmust also\tbe\tproperly\tcited\twithin\tyour\tdiscussion\tusing\tAPA\t6th\ted.\tstyle\t(5\tpoints).\tPlease\treview\tAPA 6th\ted.\tStyle\tGuide\tor\tvisit\tPerdue\tUniversity's\tOnline\tWriting\tLab\t(OWL)\tfor\tproperly\tciting\ta work.\tThe\tlink\tis: https://owl.english.purdue.edu/owl/resource/560/01/ For\tthe\tdiscussion\tportion\tof\tthis\tassignment\tbe\tsure\tto\tconstruct\tan\tintroduction,\tbody\tand conclusion\t(10\tpoints).\tUse\t12\tpt.\tTimes\tNew\tRoman\tfont\tand\tdouble-space\tyour\tpaper.\tAs always,\tthe\tuse\tof\tproper\tgrammar\tand\tspelling\tis\tanticipated\t(5\tpoints). Codification Assignment Rubric Correct 5 points 5 points 5 points 5 points Partially Correct 2.5 points 2.5 points 2.5 points 2.5 points Incorrect 0 points 0 points 0 points 0 points 220 points 1-219 points 0 points Reference sheet with at least 2 references listed. 10 points (10 points) 1-9 points 0 points Citation of references within written discussion. (5 points) 5 points 1-4 points 0 points Paper properly constructed with introduction, body and closing transitions. (10 points) 10 points 1-9 points 0 points Proper grammar and spelling utilized within paper. (5 points) 5 points 1-4 points 0 points 1. 2. 3. 4. ASC Citation (5 points) ASC Citation (5 points) ASC Citation (5 points) ASC Citation (5 points) Research and discussion of new leases literature. (220 points) TOTAL POINTS POSSIBLE: 270