Archive for December 2020 | Monthly archive page

Dec 25

Bookkeeping for Franchisees: Best Practices for Streamlined Accounting

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The franchisor is responsible for coordinating financial statements from all the franchise units, while the franchisee manages the day-to-day accounting process of each unit. Franchise accounting is essential for the success of the franchise business. It provides accurate financial information that helps the franchise owner make informed decisions about the business. Without proper accounting, the

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Dec 18

5 5 Accounting for a lease termination lessee

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More discussion on variable lease payments can be found in lessee accounting. The lessor recognises finance income over the lease term using the effective interest rate (IFRS 16.75). The underlying asset is derecognised and any resulting difference is immediately recognised in P/L as a gain or loss on the disposal of an asset. However, manufacturer

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