Accrual Accounting: How it Works & Why it's #1!
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- เผยแพร่เมื่อ 14 พ.ค. 2024
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🖊Cash vs Accrual Accounting Practice Questions → accountingstuff.com/practice-...
Accounting Basics Lesson 8. In this episode of Accounting Basics for Beginners we take on the question - which is better? The Accrual Basis of Accounting or the Cash Basis?
This episode of Accounting Stuff - Accounting Basics Lesson 8 - is a continuation of our series on Basic Accounting for Beginners. In this tutorial, you will learn:
▪ The definition of the Accruals Basis of Accounting.
▪ Accrual vs Cash Basis - Why is Accrual Accounting better than Cash Accounting?
▪ This will be demonstrated using examples comparing both the accrual method and cash method.
▪ The importance of the Matching Principle.
▪ The Pros and Cons of Accrual Basis of Accounting.
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⏱️TIMESTAMPS
00:00 - Intro
01:30 - The Problem with the Cash Basis of Accounting
01:49 - What is the Accrual Basis of Accounting?
02:07 - How does the Accrual Basis of Accounting Work
03:59 - What is the Matching Principle?
04:45 - Advantages of Accrual Accounting
05:14 - Disadvantages of Accrual Accounting
06:07 - Which Method of Accounting Should a Start-up Use?
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Who would be interested in some videos covering practice questions on each topic?
intrested =^>
@@shaheedalhelal Thanks for watching, I'm putting out a video on practice questions on Monday :)
@@shaheedalhelal Hey Shaheed, I've just put up a vid covering practice questions on Debits and Credits --> th-cam.com/video/yCOZ7aylC0c/w-d-xo.html
Give me a shout if there are any other topics you would like me to do questions on as well
Yes, longer videos would be great.
Interested
you bricked it down to the core living out of it good presentation and examples. that's how everybody should teach, once they fully understands something, not like other 45m videos to explain simple thing by pure ranting .
Thanks mate, I do my best to value your time and keep these as short and concise as possible. All the best!
I'm so happy I found your channel. You are the reason why I will pass my accounting class. My teacher is awful, so everything I'm learning, I'm learning from you. Thank you so much.
Thank you so much for your videos! I am in my first year of an accounting degree and I would not have made it through the basics without your channel
God bless you whoever you are and wherever you are. Your explanation is magic i never got this from my professors or books. You made is simple. You are excellent
This is the best explanation ever!!! I literally sat there reading my textbook for 15 hours yesterday and I could NOT make any sense of this. Then in this 7 minute video you just made everything click together. Thank you so much. You are a phenomenal teacher.
Great to hear it's clicking for you!!
your videos and al your lectures really help me while having deep problems in my accounting...
thanks a million for your hard working ..
You're absolutely the best! Thank you man!💪💪💪
This dude is the MVP. Thanks you sir!
I love your video production man! Great content making job!
Thanks buddy!
Currently reading publication 535 and this was really difficult to grasp but your video really helped. Thank you 👏🏽
Yes please do the practice questions!
I hold a BSc in Microbiology, but having worked in the banking sector, I developed an affinity for Finance and decided to pursue a masters degree in Finance, it was really tough and challenging for me until I came across your channel. Thank you so much ( I wish you could create an A to Z terms in Finance and Accounting)
Your videos really helped me a lot . Thanks for sharing such useful videos .
you made this easy to understand. thanks
So happy I found this channel! Your videos are definitely going to help me get down the basics as I am currently taking my first Accounting course at University!
I hope so - Good luck with your course!
Concise explanation. Thanks
Really helpful. Thanks. Keep it up.
I'm so glad I found your channel!!! Started studying accounting and this really helps cuz I'm a visual learner!! Thank you so much!
No problem Deanna, I am also a visual learner so can appreciate the struggle with textbooks etc. All the best
Brilliant video! Thank you 🙏
Thanks for the understanding bro.
Great explanation !! Thank you!!!
I am so happy that I discovered your channel. I was having such a difficult time in accounting and this is really helping
Hey Natasha, sorry to hear that you've been having trouble it. I'm glad that the videos are helping. All the best with your studies!
I wish you were around when I was in school 5 years ago. Your ability to break down the concepts behind why accounting works the way it does is so exciting and fun to watch. I can't get enough! Thanks.
No worries, I'm happy to help!
Your videos are so helpful! This is my first time taking an accounting class and you're helping so much!
Cheers Jennifer! Hope your studies are going well :)
Love the way you talk.
You are a great teacher.
Thank you so much for your videos! You would not believe the anguish I have endured trying to get through my accounting class! Your videos have been a godsend. And hopefully, help me pass my final this next week! Many teachers (including the boring man I watch videos from) could really learn how to teach from your style!
Hey Marie, best of luck in your final exam!!! Hope it goes well :)
Easy and Simple...!!! Thanks a ton...!!!
Thank you, very helpful
Hey love the Christmas lights, going through problems would be very nice thing to do and beneficial. Keep up your great lessons you're awesome.
Hey thanks! And cheers for the suggestion, I'll bear that in mind!
Yes! Please make practice question videos. You have made my job of bookkeeping for my new business a hell of a lot clearer! Thank you....Can't wait to learn more.
Hey Joanna, I'm glad you are finding some value in these! Yes, I am keen to make some videos on practice questions. Are there any areas that you would like me to cover?
Hey Joanna, the first practice question video is up --> th-cam.com/video/yCOZ7aylC0c/w-d-xo.html. This one covers Debits & Credits. Let me know what you think? If there are other topics you'd like covered then give me a shout
Thank you, subscribed for more accounting stuff!
yes i would like for you to show more in detail
Professor James, Thank you again haha. I literally watch your videos before i review my lecture material. Helps me understand 100x faster.
Great to hear it's making sense! All the best in your studies :)
Great posts. Very useful. I am a student, just starting in accounting and have learned a tremendous amount from your super easy teaching methods. Keep posting, please.
Thank you! Great to hear that you are finding the videos useful. There are more coming soon!
Thank you dude! Your videos are so incredibly helpful it’s genuinely amazing
Cheers Nathan! All the best :)
longer videos and practise questions would be a great addition these awesome videos!
Cheers Katriina!
Great stuff. Make more please
You don't only explain beautifully but also the video quality (editing, sounds, production) is amazing.
Thanks, I'm glad you enjoyed it :)
I just watched five videos on this topic for school and this was the most clear example.
Thanks Scott, hope it's making sense :)
Yes examples would be very useful
I had a great time learning accounting with you today. Thanks a lot
Cheers buddy :)
Cool! I love the way you explain complicate methods, and the most important you master the subject. My congrats💯💻📖📚💲🗂📎📌📓🗒📆✏💡
Thanks Martha, all the best :)
Life saver, once again.
Definitely would like to see practice problems worked into the videos. The videos are beneficial even without the practice problems, but they'd be even better with them! Thanks and keep up the great work!
Thanks for the feedback Mark, I'll bear that in mind for future videos!
Great staff, im just on my way to learn ACCA Financial Accounting and found ur channel here hope ur videos will help me
I hope so too! Good luck with your studies
great videos, thanks a bunch
these videos and playlist are epic!!! your a lifesaver!
Cheers James, I'm happy to help!
Great video ! Thanks a lot :)
Thank you!!!!!!!!!!!!!!!!!!! SUPER helpful!!
I would not be passing my accounting class if it weren't for your videos! Not only am I passing, I have an "A" so far. Thank you for making videos that are so clearly stated and fun to watch! I learn more from your short videos than in my instructor's PowerPoint presentations. You are amazing!
Hey Bonnie, it's great to smashing your accounting classes! Keep up the good work :)
You are an accounting god!!! Is there any online classes with you?
I would really love it if you started some longer form videos with practices. I appreciate your channel so much...thank you !
Thanks for your suggestion Julisca, I'm considering trying out some longer formats
You are really genius Master. Especially your words and structuring of ideas are very encouraging for weak students of accounting like me. I very eager to follow those videos to come which will hopefully cover practice sessions. Thank you again
Thanks Sunny! It's great to hear that you're finding the content helpful. I plan to release many more soon
This was super cool .. ur teaching is awesome .. thumbs up to you👍 sir ... glad I found these videos
Thanks Thasleem!!
That would be so helpful indeed
I also support the idea of doing questions
Thank you for always coming up with those creative examples that can clear all my confusions. You are amazing sir! :)
No worries, hope it's making sense!
@@AccountingStuff I'm having trouble with corporation accounting. Can you recommend me a book to read for this particular topic? thank you so much :)
@@accounteristcpa9261 Hmmm... for beginners I recommend "The Accounting Game"
very clear explanation, thank you!
No worries :)
This is SO helpful, THANK YOU!!!
Cheers, you're most welcome :)
thank you so much, you explained this waaaaay better than my lecturer did.
Cheers Alex!
Brilliant video background, concept is simply presented. Thanks
Cheers Salman!
You are an answered prayer to accounting students like me. Thank you so much ❤
You're welcome, I'm happy to help!
This is great!
Would love to go through some examples of expense and revenue accrued! Also the reversal of them 😊
Here you go... th-cam.com/play/PL5zKSeS09l31dhHvwhS4sVjcckQSPGqtp.html
You are helping me so so so much ! I really appreciate you and your videos ! Thank you , sir , keep up the magnificent work !
No worries, it's great to hear that the vids are helping. Good luck with your studies!
You make accounting funny and easy! Keep up the good job
Thanks Dani, I'm glad you think so. All the best
Very good explanation. Thanks.
Cheers Ionut!
Your videos are life savings to me. I always watch them before I start an exam on a particular subject.
Thanks 🙏
Glad to hear it! Hope your exams are going well :)
@@AccountingStuff killing it so far with 94%
I am a visual so your videos really help (books alone are not enough) + you have a great energy. Thank you so much for your hard work. I definitely appreciate it big time. Cheers.
@@VA-jf5pb Thanks awesome, congrats!!!
Thanks for the video mate👍👍
You're very welcome :)
Wooow! I am beyond amazed as to how well you made this presentation and how easy to understand this video was. I am an accountant but, I used to tutor accounting for the college I attended to for 3 1/2 years and very few people can understand and explain how accounting really works. I really enjoyed your video. Great job! 👍👍
Thank you so much!!!
Thank you for your work , it’s very useful in my studies
No problem, best of luck with it all!
Make more videos on accrual accounting please and with examples on how to work it out
Yes please, I need practice!
You saved a Chinese business student! Thank you so much
You are welcome, it's great to hear that you found it useful
good video, cheers bro
Thank you
Your teaching method is amazing
Cheers Eva :)
I love that you make account so much fun♥️
No worries Rosemarie, I'm happy you are enjoying it!
Your video is very helpful 👍🏻
Thanks Rajiv!
Excellent! Thank you
Thanks :)
Hi! love these videos. Great job! Any chance you make a video walking us through the process of switching from cash-basis to accrual-basis? Thank you!
Hey Irney, thanks for your suggestion!
Thank you
It will be really useful to solving more problems
Glad to hear it!
Thank you very informative!!!
Thanks, that's good to hear!
Awesome video. Thanks for all the info.
Can you make a video walking through an example for the entire reporting period? Like a month lets say with opening balances and closing the period?
Cheers Cesar and thanks for your suggestion!
this helped so much!!!!
That's great to hear :)
Thanks
I really understand your videos thank
Cheers, glad they're making sense :)
Yes, practice problems are the best!
Cheers Eric!
I would really appreciate longer videos with practical exercises.
Thanks for your request!
great video man. youre a top bloke
Cheers mate!
Thanks this vid really help me alot I just started accounts and I didn't know what exactly to do but I think i have a better idea of what to do thanks alot
No problem Ravi! All the best :)
@@AccountingStuff thanks
Yes please make the long practice problem videos.
Hey Claudia, thanks for your suggestion. I'll keep that in mind!
This guy is doing a great job , for students who came from a engineering background , its soo hard for us to understand accounting but he makes it seem so easy , thank you , best wishes
Thanks for your kind words!
@@AccountingStuff keep up with the good uploads 😋 ,
Still a delightful video in 2022..
well done
keep up the tremendous content
Thanks!
bro i have a term exam i understand the concept of basic acccounting because you are presice and your vidieos are informative and intersing at the same time
Good luck in your exam!!