Cash vs Accrual Accounting Explained With A Story
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- เผยแพร่เมื่อ 28 เม.ย. 2024
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Dive into the world of accounting methods! This video provides an in-depth comparison between cash and accrual accounting, helping you understand their impact on business financials.
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Key Concepts Explored:
▪️ Cash Accounting: Discover the simplicity of the cash-based system and its focus on actual cash transactions.
▪️ Accrual Accounting: Learn how accrual accounting provides a more comprehensive view by recognizing revenue when earned and expenses when incurred.
In-Depth Analysis:
▪️ Timing of Revenue & Expense Recognition: Understand the critical timing differences in recording transactions.
▪️ Case Study Illustration: Follow Claudio's souvenir business example to see how each method affects real-life business scenarios.
▪️ Advantages & Disadvantages: Weigh the pros and cons of each method for different business sizes and types.
Why Income & Cash Flow Differ: Grasp why reported income and actual cash can be vastly different, and why understanding both is crucial for financial health.
🔍 GAAP & IFRS Reporting Standards: Learn about the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) compliance in accounting methods.
00:00 Accrual Accounting vs. Cash Basis Accounting
00:56 What is Cash Accounting
02:38 Accrual Accounting Explained
03:27 Cash and Accrual Accounting explained with a Story
09:13 Advantages and Disadvantages for both methods
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#Accounting
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Great presentation!
I cannot wait for the coming video!
I answered a couple of comments below, but based on the subject matter, I think the rest of your viewers could benefit from you doing a complete presentation on each.
Equipment leases: The distinction between an operating lease and a purchase lease is extremely important, and the accounting entries are completely different.
Inventory methods: LIFO, FIFO, Specific Identification and Weighted Average. It's a very complex subject. There is a fifth method we accountants joking refer to as FISH (First In Still HERE) We are easily amused. LOL
For years I have told people that many of our clients are not-for-profit businesses. Most of them don't want to be, but they are just not good business people. LOL
Keep up the good work.
Great Leila well presented
It was great and free, I pay for my online course and I didn't understand until I watched this video. Thanks in advanced
I appreciate the slow and well-detailed video. The story helps a bunch for the visual type learners. Great Job!
I'm glad you find video helpful.
Yes, us visual learners really appreciate this video. I loved the diagrams and illustrations, I caught on much quicker. - Wellington S. Ramsey
these online classes have been kicking my butt, thank you for the help!
haha to be honest that's the same reason I am here...
I appreciate the simplicity and detailed video. Thank you.
I love the accounting videos! 😊 Very well explained with simple and easy-to-understand examples!
Thanks! Glad you like the videos :)
Awesome videos. My Accounting class at the University had been difficult but not so much now because of your videos. Thank you soooo much! Dan Schmidt, Oshkosh, Wisconsin.
This is SO helpful. Love that you tell a story with it - I will always remember now :)) Thank you!
You are so welcome, Olivia!
Thank you Leila for your explanation, You are very understandable and easier for me to absorb the topic. I hope you put more videos/lectures on accounting and business law as I am preparing for CPA Board exam.
So simple and clear explanation. Great job, thank you!
Glad you enjoyed it!
you are the BEST TEACHER! everything great about this video, content, your style of telling, graphics, with this way its fun to understand, thank you
Such a well explained and clear video, thank you!
Simple yet thorough explanation to this confusing topic. Thanks a ton.
I think, you work in team... you can introduce teammates sometime.
Keep up this Great Work !!!
Wow, I wish I watched this when I was still doing my degree Leila, this was so simple, concise, and very informative.
Thank you for this video, Really helped with my accounting class. I understand concepts but I like to know the why of things and you broke that down perfectly for me.
We appreciate all these lessons! You served as my inspiration for all my videos!
Glad I could inspire you!
Your deserved my respect Leila for simplify this old time concept. The accrual basis will not be in line with taxation principles.
Great channel! I'll keep coming back as I continue studying accounting.
Thankyou so much for the detailed help appreciate this so much!
Great explanation, first time I truly understand it. Thank you!
You are welcome!
@Leila..Many thanks. You explained a complex concept in plain English, making it easy to understand.😊
Thanks for the video - thoroughly enjoyed learning about this.
Great job! Very helpful in making a couple of decisions. Thanks!
My pleasure, glad you like.
I really like how you explained all of that. Hope you can produce more videos like this🥺. It would really help accountancy students🥰🥰
I really enjoy learning the basic accounting concepts presented in this video and other videos that you had posted. Your presentation is very clear, precise, and easy to follow. On top of that your graceful mannerism and your voice are very pleasantly heard and watched. Thank You for making these great videos.
My pleasure. Glad you enjoyed the videos!
Clear and concise, appreciated the effort
Amazing tutorial, thankkkk youuuu
Great job Leila, I can't wait for the next video :D
this video is so much more effective than my textbook!
Are you also commerce student?
Thank you so much for these videos. The examples you give really make things easier to understand.
You're very welcome, Shelly!
Thanks for making this topic so easy to understand
great job and very helpful!! Thank you!
Thank you so much! You make it so easy to learn!
Another excellent video Leila!!
Learning accounting from the college and got a job at many different banks, working in accounting (Buchhaltung, Switzerland) , I have not had any chance to apply knowledge from the school, IBM had been taken and done fortunately! As a retiree now I want to bring back memory by going back to school as a senior. Your videos are a big helper. Appreciate very much La signora Leila!
It's inspiring you're still dedicated to learning. Glad our videos can help you along your journey.
love how you explain everything !! i actually understand it 😅 ❤
This is so beautifully explained thankyou❤️
Your are an excellent pleasant voiced, well paced teacher
I just started my accounting class and this has been very helpful. Thanks for explaining in detail . I look forward to watching more videos .
You're very welcome!
Ur voice is mesmerizing.... I just see ur videos to hear u.. no metter what u teach.. plz keep uploading videos..
I was waiting for it thank you Ms. Leila as always for the good information
Thank you Ismail.
I’ve watched so many of your helpful excel videos before. Had no idea you did accounting videos too. This has been very helpful as I’ve just started in the finance and having difficulty understanding accruals versus actuals and then reversals etc omg.
Thanks for your fentastic explanation to understand the difference clearly.
Glad it was helpful!
Very concise and easy to understand...Thanks so much
Excellent presentation. I really appreciate the restraint in stock video use and not editing out pauses.
Glad you enjoyed it!
Really informative! Thank you 😊
I really love this explanation. Thank you!
You're very welcome!
Super helpful!! Thank you so much!!!!!!
Extremely helpful and thanks for the illustration
My pleasure :)
This video of cash and accruals basis is helpful. Thanks to you.
Great explanation of accounting. thanks Leila.
My pleasure. Glad you like it.
Thank you Leila for your explanation
thanks for this just trying to get my head around all this info for better anallysis of company stock
This was so so helpful!
Thank you for the explanation makes much easier to apply and follow.
My pleasure :)
Thank you Leila, your video is very clear and understoodable.
You're welcome 😊
Thank you so much,You're special🌹
These videos are really helpful i'm trying to learn as much as possible all about business before i open my own store
I have an exam midterm for accounting tomorrow, this was really helpful. Our class accounting book from my professor explains these methods too deeply and I lose focus therefore never learning properly. This video made the concepts easy and intuitive. Just subscribed, going to be watching more videos here.
Glad it was helpful!
I have an exam in 2 hers and this vid helped me better understand the concept, thanks
Absolutely brilliant!
this was very well explain, thank you
Brilliant video, thank you!
This was an excellent explanation.
fiery and passionate presentation of accounting, Leila
I just started working in a bank, over a month give or take.... This actually helped me a lot. thanks Leila. BTW, your name is so lovely.
Thank you. Before now i was confused how revenue is earned. Really anxiety, but now flexible. Thanks.
Many thanks & appreciates Mrs. Leila
Very good, Nice & proffissional way of explaining and delivering the information.
I really like & enjoy watching your videos 👍👍🌹
Thank you! 😃
Thanks Leila.. appreciate the good explanation of concepts. I ran into this in a business situation.. client not really understanding the difference between cash and accrual. I'll send him the link to your video.. haha!! Thanks for sharing all your knowledge. Thumbs up!
Haha. Let's see if that helps :)
Very well explained.. Thank you.
I started love learning accounts after watching your videos
This video is very helpful. Thank you
This video was literally perfect!
Thank you!
Great video. Thank you!
Thanks for answering my question!
Fantastic explanation
really great explanation
Thanks for the great explanation.
My pleasure Matt.
Thank you so much
best explanation🙏
Thank you so much! I love your videos and have been watching them for a year now. I only wish youd do videos in US dollars because it can be confusing with money i'm not used to dealing with..
Well played, well explained!
ANOTHER GREAT VIDEO! SO CLEAR!
Hoping for more videos from you on Accounting!
I am thanking you for your assistance with my accounting class. Your video is very well done, again my thanks,
FR
It's my pleasure.
A quick and concise overview of the first 2 weeks of college intermediate accounting class. Often a confusing and intricate principle for most students. Who would've thought that it would described so clearly in 11:00min. by the the Microsoft Excel Queen herself? Not suprised. Great job👍
Glad you liked it. Thanks for the kind feedback :)
Thank you so much. You have explained in simple words which we can understand as understanding of finance is difficult for layman. Thanks alot. Keep posted more videos
Helpful for recover basic point in accounting
Very well explained
Good instructional video. Can you please make a video with multiple accrual entries and the reversal of them. Thanks.
Yes, enjoyed and love this. Have you also tackled in Accounts Receivable and Accounts Payable? It will be a big help for us who wants to understand in Accounting. Thanks a lot!
Ty queen. My instructor doesnt go over the logic behind this stuff at all
keep it up! I learned a lot! 👍👍
Thank you for sharing. This was very helpful. I am eager to learn more about accounting, specifically in private clubs. I keep seeing your name pop up, and will look at your Excel course to become more proficient with that solution. I will also take notes while watching your videos and share them with my GM/COO. Who happens to be a former CFO! Thanks again, Leila.
Thanks a lot, great video.
Thank you for your video. It was very informative and to the point. By the way this is the first time I watched a video more than 2 minutes in length to the end without skipping :) - Wellington S. Ramsey
Glad you enjoyed it!
great explanation, thanks Leila
Glad you like the video Simoiya.
Very helpful, thanks
Nicely explained.
Very good explanation of the differences between both methods Leila.
Glad you like it Enrique.
Thanks. Really helped
It really helps ❤❤