Accounting for Leases: Initial Direct Costs—an amendment of FASB Statement No. 13 (Statement Issued 11/77)
This Statement changes the definition of initial direct costs found in paragraph 5(m) of FASB Statement No. 13, Accounting for Leases, to be costs incurred by the lessor directly associated with negotiating and consummating a completed lease transaction. Examples of these costs include commissions, legal fees, and processing costs.