Accounting

A ROU (Right-of-Use) Asset refers to the asset that a lessee has the right to use during the lease term […]

Asset accounting in SAP involves tracking and managing a company’s fixed assets. The process includes the acquisition, depreciation, transfer,, and

Here’s a detailed explanation of the journal entries for asset accounting in SAP. 1. Asset Acquisition When a company acquires

“Due to” and “Due from” accounts are used in accounting to track amounts that are owed between entities, often within

Lessor accounting refers to the accounting treatment from the perspective of a lessor, the entity that provides an asset for

Restaurant accounting involves tracking various financial transactions unique to the food and beverage industry. Below are some common journal entries

Real estate accounting involves specific journal entries to track transactions related to property, revenue, expenses, and financing. Below are examples

Fund accounting is a specialized accounting system used by nonprofits and government entities to manage resources. It focuses on accountability

Under ASC 842, monthly journal entries for leases depend on whether the lease is classified as an operating lease or

Construction accounting involves unique journal entries due to the nature of the industry, including long-term contracts, percentage of completion, and

ASC 842 is the accounting standard that governs lease accounting. Under ASC 842, lessors must classify leases as either operating

Construction in Progress (CIP) is an account used to track the costs associated with the construction of assets that are