BlockchainBrawler
Tue Sep 10 2024
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5 answers
830
How are professional fees treated in accounting?
Good day, I'm curious to understand how professional fees are treated in accounting. Could you please elaborate on the different ways these expenses are recorded and accounted for in financial statements? Are there any specific accounting standards or guidelines that govern the treatment of professional fees? Also, how do these fees impact a company's financial position and profitability? I'm particularly interested in knowing how they are classified on the balance sheet and income statement. Thank you for your insights.
