Lease Accounting - same type classification at Lessor and Lessee possible?

[GB_Affiliate]

given management has certain degree of freedom, when making the decision about classification of the leasing transaction - is it possible that both the lessor and the lessee use the same type of the lease? (both qualify the ransaction as operating or financing)

 

[Yumi]

The answer is No, as far as I know.
The both must come to a concensus of classifying the lease as operating one or capital one.
It would be materially wrong if the lessor classifies the lease as operating lease while the lessee clasifies it as capital lease. If that happened, the both would record the same asset in their balance sheets and record annual depreciation expense, which is odd.