I need to document the disclosures under both IFRS and GAAP, as well as footnote disclosure on the following information: We have an issue dealing with an international lease. The lease is from the U.S. parent company, to a UK subsidiary. The U.S. parent company classifies the lease as an operating lease; the UK company doesn't know how to classify the lease. The particulars (as the Brits would state), are as follows: Lease length 15 years. Incremental borrowing rate=10% Useful life 30 years. Payment =$10000 Residual value $1000 No renewal of lease available