Journal Entries for Rent Accruals
One of the most common accrual entries required at each accounting period end are rent accruals. The accruals required for rent are generally quite simple because the amounts and periods …
What are the Journal Entries for IFRS 16?
Under IFRS 16, the main items that will appear on the balance sheet are a “right of use asset” and a lease liability. However, it is also important to understand how to calculate the related interest payments for the lease at each payment interval as well as the depreciation amounts.