Month: October 2023

Prepaid Expenses Examples, Accounting for a Prepaid Expense

While some variability exists in the outcome of the calculation, the minimum amount is fixed. Prepaid rent has different accounting implications under each https://www.bookstime.com/ lease accounting standard. However, under ASC 842, the new lease accounting standard, prepaid rent is now included in the measurement of the ROU asset. Additionally, deferred rent is also recorded for […]