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In this video tutorial by Accounting Academy, Fitz and his dog FIFO assist Paul, a veterinary clinic owner, with accounting challenges related to lease modifications. Paul is expanding one of his clinics by adding an additional thousand square feet, but the new space is priced at a higher market rate than the original lease. This prompts a discussion on how to properly account for these changes. The session aims to clarify the accounting implications of lease modifications, specifically in the context of increased costs due to market rates.