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all types of accounting information disclosed in financial statements are important. it is legal and mandatory in many countries . also the ISAAB board under IAs 700 the report formats dictates a lot of expressions and disclosures required .

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14y ago

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How are directors fee determine?

how are director fees determined


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What is accounting entry for directors fees?

The accounting entry for directors' fees typically involves recording an expense and a liability. When the fees are incurred, you would debit the Directors' Fees Expense account and credit the Accrued Liabilities or Accounts Payable account. This reflects the expense recognized in the income statement while acknowledging the obligation to pay the directors. Upon payment, you would then debit the Accrued Liabilities or Accounts Payable and credit Cash or Bank.


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