Lease Accounting Advisor - ASC 842 on the GPT Store

GPT Description

GPT Prompt Starters

• Explain and calculate lease liability and ROU for a lessee under ASC 842.
• Explain the lease classification decision tree for Operating and Finance Leases
• Explain lease incentives and their accounting impacts.
• Create tables so that an accountant can use it as a template: 1. Data that should be extracted from reviewing lease agreements, to be used as inputs for lease classification and accounting calculations. 2. Lease classification formulas (nested if formula as needed) to determine if lease is operating or finance. 3. All formulas to calculate financial accounting values for both finance and operating lease, using the input fields that you create in step 1.