lease-accounting-advisor

Name: lease-accounting-advisor
Author: Raishin

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How to install lease-accounting-advisor?

raishin/vanguard-frontier-agentic/lease-accounting-advisor

$npx -y skills add Raishin/vanguard-frontier-agentic --skill lease-accounting-advisor

Installs into the current project.

Summary

Multi-jurisdiction lease accounting reference framework covering ASC 842 (US GAAP) and IFRS 16, with additional coverage of UK FRS 102 (2024 periodic review amendments effective 1 Jan 2026), German HGB, JGAAP (ASBJ Statement No. 34, effective FY beginning on/after 1 Apr 2027), CA

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SKILL.md

1	# Lease Accounting Advisor — Reference Skill
2
3	## Purpose
4
5	Provide the complete multi-jurisdiction framework for lease accounting advisory — from lease identification through lessee and lessor classification, measurement, modification, and cross-GAAP comparison tables.
6
7	---
8
9	## Part 1: Lease Identification
10
11	### What Constitutes a Lease (ASC 842 / IFRS 16)
12
13	Under both ASC 842 (842-10-15-9) and IFRS 16 (paragraph 9), a contract contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
14
15	Three criteria must all be met:
16
17	\| Criterion \| ASC 842 Reference \| IFRS 16 Reference \|
18	\|---\|---\|---\|
19	\| Identified asset (specific, not substitutable) \| 842-10-15-3 \| IFRS 16.B13–B20 \|
20	\| Customer has right to obtain substantially all economic benefits \| 842-10-15-20 \| IFRS 16.B21–B23 \|
21	\| Customer has right to direct use of the identified asset \| 842-10-15-24 \| IFRS 16.B24–B30 \|
22
23	Supplier substitution right: If the supplier has a substantive right to substitute the asset throughout the period of use, there is no identified asset and no lease. A substitution right is substantive only if the supplier (a) has the practical ability to substitute and (b) would benefit economically from doing so. (ASC 842-10-15-10; IFRS 16.B14)
24
25	### Practical Expedient — Lease and Non-Lease Components
26
27	- ASC 842: Lessees may elect (by class of underlying asset) to not separate lease and non-lease components — treat as single lease component. (ASC 842-10-15-42A)
28	- IFRS 16: Same practical expedient available to lessees (IFRS 16.15). Lessors must always separate components under IFRS 15.
29
30	---
31
32	## Part 2: Lessee Classification — Dual Model (ASC 842) vs. Single Model (IFRS 16)
33
34	### Overview
35
36	\| Feature \| ASC 842 (US GAAP) \| IFRS 16 \| UK FRS 102 (post-2026) \| JGAAP (pre-ASBJ No.34) \| JGAAP (post-ASBJ No.34 eff. Apr 2027) \| CAS 21 \| Ind AS 116 \|
37	\|---\|---\|---\|---\|---\|---\|---\|---\|
38	\| Model \| Dual (finance / operating) \| Single (all leases → ROU + liability, unless exempt) \| Broadly IFRS 16-aligned (periodic review amendments) \| Dual model (old IAS 17-like) \| Single model (IFRS 16-aligned) \| Single model (IFRS 16-aligned) \| Single model (identical to IFRS 16) \|
39	\| Operating lease on balance sheet? \| Yes — ROU asset + lease liability, but P&L = straight-line total expense \| No operating classification; all leases on balance sheet \| Yes (post-amendment) \| No (off-balance-sheet for operating leases) \| Yes \| Yes \| Yes \|
40	\| Finance lease P&L pattern \| Front-loaded (depreciation + interest) \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \|
41	\| Short-term exemption \| ≤ 12 months at commencement \| ≤ 12 months at commencement \| Available \| Available \| Available \| Available \| Available \|
42	\| Low-value exemption \| Underlying asset ≤ ~$5K when new \| Underlying asset ≤ ~$5K when new (indicative) \| Available \| N/A \| Available \| Available (≤ ¥40K) \| Available \|
43
44	### ASC 842 Finance Lease Classification Criteria (842-20-25-2)
45
46	A lessee classifies a lease as a finance lease if any one of the following criteria is met:
47
48	1. Transfer of ownership to lessee by or before lease end
49	2. Purchase option the lessee is reasonably certain to exercise
50	3. Lease term is for the major part of the remaining economic life (bright line: ≥ 75% is a common reference but not codified — judgment required)
51	4. Present value of lease payments plus any residual value guarantee equals or exceeds substantially all of the fair value (bright line: ≥ 90% is a common reference — judgment required)
52	5. Underlying asset is of such a specialized nature that it has no alternative use to the lessor at lease end
53
54	If none of the above: operating lease.
55
56	### IFRS 16 Single-Model Lessee Treatment
57
58	All leases (other than exempt short-term and low-value) are treated as finance-type on balance sheet:
59	- Recognize a right-of-use (ROU) asset an

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lease-accounting-advisor

17stars3forks

View on GitHub

How to install lease-accounting-advisor?

raishin/vanguard-frontier-agentic/lease-accounting-advisor

$npx -y skills add Raishin/vanguard-frontier-agentic --skill lease-accounting-advisor

Installs into the current project.

Summary

Files · 1

View on GitHub

SKILL.md

1	# Lease Accounting Advisor — Reference Skill
2
3	## Purpose
4
5	Provide the complete multi-jurisdiction framework for lease accounting advisory — from lease identification through lessee and lessor classification, measurement, modification, and cross-GAAP comparison tables.
6
7	---
8
9	## Part 1: Lease Identification
10
11	### What Constitutes a Lease (ASC 842 / IFRS 16)
12
13	Under both ASC 842 (842-10-15-9) and IFRS 16 (paragraph 9), a contract contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
14
15	Three criteria must all be met:
16
17	\| Criterion \| ASC 842 Reference \| IFRS 16 Reference \|
18	\|---\|---\|---\|
19	\| Identified asset (specific, not substitutable) \| 842-10-15-3 \| IFRS 16.B13–B20 \|
20	\| Customer has right to obtain substantially all economic benefits \| 842-10-15-20 \| IFRS 16.B21–B23 \|
21	\| Customer has right to direct use of the identified asset \| 842-10-15-24 \| IFRS 16.B24–B30 \|
22
23	Supplier substitution right: If the supplier has a substantive right to substitute the asset throughout the period of use, there is no identified asset and no lease. A substitution right is substantive only if the supplier (a) has the practical ability to substitute and (b) would benefit economically from doing so. (ASC 842-10-15-10; IFRS 16.B14)
24
25	### Practical Expedient — Lease and Non-Lease Components
26
27	- ASC 842: Lessees may elect (by class of underlying asset) to not separate lease and non-lease components — treat as single lease component. (ASC 842-10-15-42A)
28	- IFRS 16: Same practical expedient available to lessees (IFRS 16.15). Lessors must always separate components under IFRS 15.
29
30	---
31
32	## Part 2: Lessee Classification — Dual Model (ASC 842) vs. Single Model (IFRS 16)
33
34	### Overview
35
36	\| Feature \| ASC 842 (US GAAP) \| IFRS 16 \| UK FRS 102 (post-2026) \| JGAAP (pre-ASBJ No.34) \| JGAAP (post-ASBJ No.34 eff. Apr 2027) \| CAS 21 \| Ind AS 116 \|
37	\|---\|---\|---\|---\|---\|---\|---\|---\|
38	\| Model \| Dual (finance / operating) \| Single (all leases → ROU + liability, unless exempt) \| Broadly IFRS 16-aligned (periodic review amendments) \| Dual model (old IAS 17-like) \| Single model (IFRS 16-aligned) \| Single model (IFRS 16-aligned) \| Single model (identical to IFRS 16) \|
39	\| Operating lease on balance sheet? \| Yes — ROU asset + lease liability, but P&L = straight-line total expense \| No operating classification; all leases on balance sheet \| Yes (post-amendment) \| No (off-balance-sheet for operating leases) \| Yes \| Yes \| Yes \|
40	\| Finance lease P&L pattern \| Front-loaded (depreciation + interest) \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \| Front-loaded \|
41	\| Short-term exemption \| ≤ 12 months at commencement \| ≤ 12 months at commencement \| Available \| Available \| Available \| Available \| Available \|
42	\| Low-value exemption \| Underlying asset ≤ ~$5K when new \| Underlying asset ≤ ~$5K when new (indicative) \| Available \| N/A \| Available \| Available (≤ ¥40K) \| Available \|
43
44	### ASC 842 Finance Lease Classification Criteria (842-20-25-2)
45
46	A lessee classifies a lease as a finance lease if any one of the following criteria is met:
47
48	1. Transfer of ownership to lessee by or before lease end
49	2. Purchase option the lessee is reasonably certain to exercise
50	3. Lease term is for the major part of the remaining economic life (bright line: ≥ 75% is a common reference but not codified — judgment required)
51	4. Present value of lease payments plus any residual value guarantee equals or exceeds substantially all of the fair value (bright line: ≥ 90% is a common reference — judgment required)
52	5. Underlying asset is of such a specialized nature that it has no alternative use to the lessor at lease end
53
54	If none of the above: operating lease.
55
56	### IFRS 16 Single-Model Lessee Treatment
57
58	All leases (other than exempt short-term and low-value) are treated as finance-type on balance sheet:
59	- Recognize a right-of-use (ROU) asset an

People who liked this also viewed

6 picks

Type