Advanced
Lease vs service assessment with key term extraction
Extracts key contract terms and evaluates whether an arrangement contains a lease under ASC 842/IFRS 16. Produces a concise conclusion and data needed for accounting setup.
Determine whether the arrangement contains a lease under {standard} (ASC 842/IFRS 16).
Inputs:
- Contract text or summary: {contract_text}
- Identified asset? {identified_asset}
- Substitution rights: {substitution_rights}
- Right to control use (how/what/when): {control_factors}
- Term, renewal, termination options: {term_options}
- Payments and indices: {payment_terms}
Output:
1) Extracted key terms (bullet list).
2) Lease identification conclusion and rationale.
3) Accounting data requirements (commencement, term, payments, discount rate, incentives, initial direct costs).
4) Next steps: classification decision points and system setup checklist.
Keep it decision-oriented and cite uncertainties.Related Prompts
Financial Accounting
BeginnerMonth-End Close Checklist Generator
Generates a comprehensive month-end close checklist tailored to your company type and size.
ChatGPT-4oClaude Sonnet 4.5Gemini 2.5 Pro
1
1
75
Financial Accounting
AdvancedImpairment indicator screen and impairment test outline
Screens for impairment indicators and outlines an impairment test approach with documentation steps. Useful for controllers and advisors supporting annual impairment reviews.
GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
47
Financial Accounting
AdvancedHedge Accounting Effectiveness Memo
Drafts the technical justification for designating a derivative as a hedge.
GPT-4oClaude 3.5 Sonnet
0
0
7