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
4
268
Financial Accounting
IntermediateASC 606 Five-Step Compliance Checker
Analyzes a described revenue arrangement against each of the 5 steps of ASC 606. Flags potential issues and recommends documentation.
ChatGPT-4oClaude Sonnet 4.5
0
0
439
โญ FeaturedFinancial Accounting
AdvancedASC 606 disclosure checklist mapped to data sources
Generates an ASC 606/IFRS 15 disclosure checklist and maps each disclosure to internal data sources and owners. Ideal for SEC reporting teams and controllers improving disclosure readiness.
GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
74