Consulting Fees
Code: 5273
👁 Views: 115
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Fees for consultants in management, finance, marketing, engineering, and other fields.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 37
Provisions, Contingent Liabilities and Assets
US GAAP
ASC 720
Other Expenses
❓ Frequently Asked Questions
Q: How are consulting fees recorded?
A: Dr. Consulting Fees, Cr. Bank or Accounts Payable.