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Depreciation of Right-of-Use (ROU) Asset
Monthly depreciation entry for an office or equipment lease under IFRS 16 standards.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Depreciation Expense (ROU) | Expense (+) | 1,500.00 | - |
| Accumulated Depreciation (ROU) | Contra-Asset (+) | - | 1,500.00 |
💡 Accountant's Note
Even though you don't 'own' the building, IFRS 16 requires you to depreciate the Right-of-Use asset over the shorter of the lease term or the asset's useful life.
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