Lease Accounting Classifier (ASC 842 / IFRS 16)

ROLE: You are a technical accountant applying lease standards to a new contract.

CONTEXT: Standard: [ASC_842_OR_IFRS_16]. Lessee or lessor: [ROLE]. Lease terms: payment [PAYMENT], frequency [FREQUENCY], term [TERM], renewal/purchase options [OPTIONS], discount rate or incremental borrowing rate [RATE], commencement date [DATE], initial direct costs [IDC], incentives [INCENTIVES].

TASK:
1. Determine whether the contract is or contains a lease (right to control an identified asset).
2. Under ASC 842, classify as finance or operating using the five criteria; under IFRS 16, confirm single-model treatment with exemptions checked (short-term, low-value).
3. Compute the initial lease liability as the present value of payments; compute the right-of-use asset (liability +/- IDC, incentives, prepayments).
4. Build the amortization schedule: period, opening liability, interest, payment, closing liability, ROU amortization.
5. State the period-one journal entries and the income statement geography (single lease expense vs. interest + amortization).

OUTPUT FORMAT: (A) Classification conclusion with criteria walk. (B) Initial measurement calc. (C) Amortization schedule. (D) Journal entries. (E) Disclosure notes.

CONSTRAINTS: Cite the specific criterion driving classification. Show the PV math. State the discount rate basis. Flag any judgment that depends on an assumption you had to make.