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In this video tutorial from Accounting Academy, Fitz and his dog FIFO assist Paul, the owner of Pet Vet, with accounting issues related to his modified leases. Paul seeks help as he expands his veterinary clinics by adding another thousand square feet to an office, but the new space comes at a higher market rate than his original lease. Fitz offers to explore ways to properly account for these changes in the leasing arrangement, indicating that they will discuss the implications of the increased costs due to the expansion. The focus will be on helping Paul navigate the financial aspects of his leasing modifications.
