Accrued Interest Expense in the Cash Flow Statement: A Comprehensive Guide

Accounting standards like IFRS 9 and the Financial Accounting Standards Board’s (FASB) ASC 310 provide guidance on recognizing and measuring interest expense, especially given the complexity of financial instruments. However,...

Adjusting Entries: In-Depth Explanation with Examples

Similarly, for the company’s balance sheet on December 31 to be is unearned revenue a current liability accurate, it must report a liability for the interest owed as of the...