Deferral Example: Unearned Revenue

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  • เผยแพร่เมื่อ 23 ธ.ค. 2024

ความคิดเห็น • 112

  • @aksesoryabylizaluz1232
    @aksesoryabylizaluz1232 2 ปีที่แล้ว +10

    I am an Accountant and practicing it for so many years, the way you present your tutorial videos are so easy to understand. This is really very relevant for refresher course and for those who are studying Accounting. You are making it easy to comprehend the effects on the books of the company.

  • @sunsetonmercury4705
    @sunsetonmercury4705 4 ปีที่แล้ว +1

    I just wanna say thank you, because I've been searching educational video for hours but only found explaination about defferal transaction that is a repaid rent etc.

  • @ghiblik6797
    @ghiblik6797 9 ปีที่แล้ว +77

    Awesome man. you are better than our professor in terms of teaching

  • @carbeeezy2203
    @carbeeezy2203 7 ปีที่แล้ว +3

    Easy way to memorize Debit balances is the acronym ADE. Assets, Dividends, expenses. unless it is unearned revenue which is a liability. Hope that helps. In debit balances Debit increase and Credits decrease. Revenue is usually an asset unless it us unearned. Great teacher man keep up the great work!

  • @justentertainment4275
    @justentertainment4275 9 ปีที่แล้ว +25

    this guy is awesome. I wished that you were my accounts lecturer.

  • @rhidavillanueva7625
    @rhidavillanueva7625 5 ปีที่แล้ว +4

    I feel like continuing my course to Accountancy now that I have found someone who can explain accounting terms/principles better

  • @louisemartin4756
    @louisemartin4756 7 ปีที่แล้ว

    I am a french accountant. Thank you very much for your work. It is very helpful. Merci beaucoup

  • @noname89636
    @noname89636 8 ปีที่แล้ว +3

    You saved my accounting career. Thank you so much.

  • @mkhanduri
    @mkhanduri 9 ปีที่แล้ว +6

    Nice explanation Larry. This was really helpful. Thanks a lot for your efforts to make the learning a pleasure.

  • @dhalkifl4171
    @dhalkifl4171 2 ปีที่แล้ว

    Thanks for spending time to teach accounting students worldwide

  • @harkiratkaurkhalsa2251
    @harkiratkaurkhalsa2251 2 ปีที่แล้ว +1

    I have masters in commerce and never got journal entries right until I watched your videos

  • @Hoka_moka
    @Hoka_moka 10 ปีที่แล้ว +15

    Your lectures rock Larry

  • @lijin121
    @lijin121 6 ปีที่แล้ว

    You are the best accounting tutor.

  • @sharavananjaganathan9898
    @sharavananjaganathan9898 4 ปีที่แล้ว +1

    Your teaching is good sir, I understood the topic and example.

  • @lisamccray6481
    @lisamccray6481 4 ปีที่แล้ว

    I am really! going from struggling to starting to get it. I have been at this (learning thing) for quite a few weeks. Very grateful.

  • @carmelajalipa7889
    @carmelajalipa7889 5 ปีที่แล้ว +3

    Thankyou for the video. I learned a lot now. Im 1st year college in BSA i felt nervous because of that but i want to pursue and i want to be an accountant. I always motivate my self. Thankyou for that sir from philippines 🇵🇭

  • @roheenrai7844
    @roheenrai7844 4 ปีที่แล้ว

    What an awesome explanation,which directly goes to long term memories,thank you so much

  • @andreaockerman8859
    @andreaockerman8859 5 ปีที่แล้ว

    I have learned more from your videos than my actual teacher's lectures

  • @lazzymeomeo7039
    @lazzymeomeo7039 4 ปีที่แล้ว

    who are here in 2020 ha ha. Thank you so much, i have to take online class due to Corona and i didnt understand much until your video.

  • @muhammedasifkhurshid1156
    @muhammedasifkhurshid1156 2 ปีที่แล้ว

    Nice and clear explanation....Great.
    Thanks and regard.

  • @thabangbarayang8622
    @thabangbarayang8622 3 ปีที่แล้ว

    Thank you Sir! You took your time explaining the whole thang

  • @augustayarteh7524
    @augustayarteh7524 5 ปีที่แล้ว

    Sharp explanation professor professional explanation. The name of the account we should record is unearn revenue. Unearn revenue is a revenue that have not yet received the money then remember about the cash or service revenue.

  • @joyfull2346
    @joyfull2346 6 ปีที่แล้ว

    Your lecture is the best of best.

  • @sasosaso5995
    @sasosaso5995 4 ปีที่แล้ว

    perfect. I checked others video, but yours perfecttttt

  • @AyadJaff
    @AyadJaff 6 ปีที่แล้ว

    Thank you Sir, I understood the lecture very well. the way you are teaching is just simple but great.

  • @yapingwang2208
    @yapingwang2208 6 ปีที่แล้ว +2

    Very good explanations and it really helps!

  • @meowmeow-yn1mb
    @meowmeow-yn1mb ปีที่แล้ว

    Wow you have a talent in explaining well sir

  • @beverly0686
    @beverly0686 8 ปีที่แล้ว

    This helps big time. Thank You for making the video.

  • @pmittal19
    @pmittal19 6 ปีที่แล้ว +1

    Sir your voice is so crisp and clear, your way of teaching is amazing..
    I would like to advise one thing, along with income and expense accounts if you can please draw balance sheet too and show the adjustments practically there , it would really be very helpful..

  • @shivakumar499
    @shivakumar499 7 ปีที่แล้ว

    Clear as it can get... Thank u professor

  • @bmanq2234
    @bmanq2234 4 ปีที่แล้ว

    Very clear explanation. Thank you for your work.

  • @GhulamMustafa-cv8fu
    @GhulamMustafa-cv8fu 6 ปีที่แล้ว +2

    Thank you so much for your kind support. i appreciate; it.

  • @desrepeerc206
    @desrepeerc206 3 ปีที่แล้ว

    great video, I'll remember what a deferral is now

  • @ashleygrajo9418
    @ashleygrajo9418 7 ปีที่แล้ว +1

    LIFE! This was great.

  • @qwenda11
    @qwenda11 9 ปีที่แล้ว +7

    thank you for the lecture!!!

  • @srilightning
    @srilightning 4 ปีที่แล้ว

    Thank you, I was so confused on this particular aspect

  • @innocentlovablesunny
    @innocentlovablesunny 7 ปีที่แล้ว

    You rock Mr. Larry !!

  • @creator1336
    @creator1336 5 ปีที่แล้ว

    Thank you! Very simply explained.

  • @raeedgd8047
    @raeedgd8047 8 ปีที่แล้ว +6

    best explain ... thanks man

  • @manuelbriceno3091
    @manuelbriceno3091 2 ปีที่แล้ว

    You are the best, thanks a lot .

  • @renegadek9
    @renegadek9 6 ปีที่แล้ว

    Loved the example and teaching, and I know this is one person, but felt tip pens on paper send chills up my spine like nails on a chalk board does for some.
    Will have to fight through the to get the good instruction.

  • @JananiVenugopalan
    @JananiVenugopalan 9 ปีที่แล้ว +2

    Very helpful! Thanks so much !!

  • @Henri2Blah
    @Henri2Blah 7 ปีที่แล้ว

    Thanks, better lecturer than the one I have at uni lol

  • @nguyennhatlinh1873
    @nguyennhatlinh1873 7 ปีที่แล้ว

    it's such a useful example! Thanks!!

  • @afraelzaldyanggara8714
    @afraelzaldyanggara8714 3 ปีที่แล้ว

    hello Mr.Larry how the adjustment journal if this transaction is immediately recorded as a service revenue?

  • @anitafitriani5158
    @anitafitriani5158 5 ปีที่แล้ว +2

    Thank you sir ,this is very helping me

  • @marylittles3747
    @marylittles3747 4 ปีที่แล้ว

    Can you explain when an account is overstated and understated?

  • @LM-tz9js
    @LM-tz9js 3 ปีที่แล้ว

    Thank you for your video! Can you please explain retainer that the vendor paying to law firm, if you still record lessons. Thank you

  • @potnudles
    @potnudles 3 ปีที่แล้ว

    Is this also called, Accrued Income? I'm studying through AAT in the UK.

  • @sahraosman7064
    @sahraosman7064 8 ปีที่แล้ว +3

    THANK you prof much ppreciated of all ur videos I absolutely benefited from .. if u teach online am interested sir .

  • @ВалентинМикляев
    @ВалентинМикляев 4 ปีที่แล้ว

    Thank you. Could you please tell when it is possible to write revenue as a credit? I thought that all revenue recievied in advance before providing goods is Credit.

    • @cliffclairespicyreviews3502
      @cliffclairespicyreviews3502 ปีที่แล้ว

      Incorrectly You cannot record revenue into it earn. We receive cash in advance but didn't perform the service so this goes under unearned revenue as liability meaning we owe the customer service. So if we complete the whole service then you record revenue.

  • @avac2276
    @avac2276 5 ปีที่แล้ว

    thank you for being so clear!

  • @linduchyable
    @linduchyable 7 ปีที่แล้ว +1

    do we call the prepaid expense also a deferred expense?
    thank you

  • @tjgomez4883
    @tjgomez4883 3 ปีที่แล้ว

    professor you are the best

  • @Mariefrancegrsce
    @Mariefrancegrsce 6 ปีที่แล้ว

    Wow amazing lecture

  • @leeluv96
    @leeluv96 6 ปีที่แล้ว

    This is how i've been handling this for 20 years. Lately the auditors have been saying that deferring revenue has been phased out by the accounting standards board. And that non-profits no longer defer revenue. I am a bit rusty so I came out to see how things are done now.

  • @Abishek97
    @Abishek97 3 ปีที่แล้ว

    This was so helpful, thank you!

  • @namasikunamataa8788
    @namasikunamataa8788 3 ปีที่แล้ว

    Sir, when preparing the T accounts,do we need to use the information in the trail balance or only those which have been adjusted

  • @diontaedaughtry974
    @diontaedaughtry974 5 ปีที่แล้ว

    Thank you this was very helpful and informative 👍👍

  • @m0khm0kh
    @m0khm0kh 7 ปีที่แล้ว

    Wow.. Finally, I get it. Thank you

  • @archstand
    @archstand 6 ปีที่แล้ว

    With respect to the Journal Entry of Cash advance received from customer, won't we Credit "advance received from Customer"?

  • @yusrasalim2039
    @yusrasalim2039 7 ปีที่แล้ว

    What a great tutorial! Thanks much

  • @bonakiir1006
    @bonakiir1006 6 ปีที่แล้ว

    Great tutorial, thanks sir.

  • @kanishkadas5907
    @kanishkadas5907 9 ปีที่แล้ว +2

    Very good tutorial

  • @learnsomething6265
    @learnsomething6265 2 ปีที่แล้ว

    Do you have a course or a website?

  • @firstreviewer8966
    @firstreviewer8966 2 ปีที่แล้ว

    Great Work! FR

  • @andression859
    @andression859 6 ปีที่แล้ว

    Thank you!! This helped me a lot!

  • @MatteaKleefman
    @MatteaKleefman 3 หลายเดือนก่อน

    this is great thank u so much

  • @bhavikupadhyaya972
    @bhavikupadhyaya972 5 ปีที่แล้ว

    When I learned this better in this video than I did with my professor it says something

  • @talebbagazi1435
    @talebbagazi1435 5 ปีที่แล้ว +1

    Hi, I want to ask what an unearned revenue account represents, short-term liability, am I right?

  • @psomasekharreddy4450
    @psomasekharreddy4450 4 ปีที่แล้ว

    Why can't you credit customer?

  • @julienneassogba2885
    @julienneassogba2885 8 ปีที่แล้ว

    so much understanding merci

  • @perennialistperspective
    @perennialistperspective 6 ปีที่แล้ว +3

    unearned revenue is a liability account. not sure why no other source helped me figure that out. all revenue accounts are asset accounts EXCEPT unearned revenue.

  • @premiumlifestyleliving2543
    @premiumlifestyleliving2543 8 ปีที่แล้ว +3

    Good tutorial

  • @nuondara6735
    @nuondara6735 5 ปีที่แล้ว

    Excuse me sir, are you following the GAAP principal or IFRS principal?

  • @cacansoft
    @cacansoft 6 ปีที่แล้ว +2

    Thank you sir.

  • @liyan1805
    @liyan1805 10 ปีที่แล้ว

    Very helpful, thanks.

  • @legakwantabeni
    @legakwantabeni 7 ปีที่แล้ว

    very helpful video. thanks.

  • @accounting3169
    @accounting3169 4 ปีที่แล้ว

    Isn't the revenue considered as liabilities too? I'm confused 😭

  • @jiSu-v5c
    @jiSu-v5c ปีที่แล้ว

    gooooooooooooood!!!!!!!!!helpful!

  • @TheDDEngineer
    @TheDDEngineer 9 ปีที่แล้ว +2

    Thanks +Larry Lazofson

  • @julieburke4238
    @julieburke4238 5 ปีที่แล้ว

    Thank you so much!!!!!

  • @joliesoliman3495
    @joliesoliman3495 4 ปีที่แล้ว

    Thank you so much

  • @chriss4514
    @chriss4514 5 ปีที่แล้ว

    Thank you!!

  • @Ahmed_Elhaddad
    @Ahmed_Elhaddad 8 ปีที่แล้ว

    i love youuuuu sir you are amazingg

  • @easyenglish149
    @easyenglish149 3 ปีที่แล้ว

    Thank you sir 🙏

  • @MohamedEturki
    @MohamedEturki 6 ปีที่แล้ว

    God bless you

  • @jenniferlevasseur7
    @jenniferlevasseur7 ปีที่แล้ว

    Thank you

  • @perihuseynova5409
    @perihuseynova5409 4 ปีที่แล้ว

    👌👌👌👌👌👌

  • @abaricocrystalkaye4493
    @abaricocrystalkaye4493 6 ปีที่แล้ว

    that was helpful

  • @Zamankaladi
    @Zamankaladi 2 ปีที่แล้ว

    Helpful

  • @zijiedong5789
    @zijiedong5789 6 ปีที่แล้ว

    that is awsome

  • @raatkana5205
    @raatkana5205 6 ปีที่แล้ว

    thank you sir

  • @romelbensurto6720
    @romelbensurto6720 2 ปีที่แล้ว

    Im new here😁

  • @shinxansen
    @shinxansen 5 ปีที่แล้ว

    thanks sir

  • @WorkeneshWoldmariam
    @WorkeneshWoldmariam 8 ปีที่แล้ว

    thank yoy and you

  • @muhiddenmisbak1013
    @muhiddenmisbak1013 7 ปีที่แล้ว

    Service Income

  • @dennisquitoy3345
    @dennisquitoy3345 2 ปีที่แล้ว

    Permission to use the video for my Senior High School Students. Thank you.

    • @theaccountingtutor1
      @theaccountingtutor1  2 ปีที่แล้ว +1

      Dennis: Yes, of course you may use this video or any of my other videos here to present and provide to your students…Larry

    • @dennisquitoy3345
      @dennisquitoy3345 2 ปีที่แล้ว

      @@theaccountingtutor1 Thank you so much!

  • @rheesekidwell3596
    @rheesekidwell3596 7 ปีที่แล้ว

    thanks so i watch over and over. repititive

  • @hastinmy
    @hastinmy 5 ปีที่แล้ว

    hello