Accounting for Beginners | Part 4 | Accruals & Prepayments

In part 4 of Accounting for Beginners, we look at Accruals and Prepayments. We explain what accruals and prepayments are, whether they are assets or liabilities, and how they are treated in accounting. We also go through journal entry examples of accruals and prepayments. We do the general ledger for prepaid expense, income received in advance (deferred income), accrued expense, and accrued income.
Accounting for Beginners | Part 1 | The Accounting Equation: • Accounting for Beginne...
Accounting for Beginners | Part 2 | Debits and Credits | Journal Entries: • Accounting for Beginne...
Accounting for Beginners | Part 3 | General Ledger (T-Accounts): • Accounting for Beginne...
Accounting for Beginners | Part 5 | Trial Balance: • Accounting for Beginne...
Income Received In Advance (Prepaid Income) | Explained with Journal Entries Examples
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Пікірлер: 51

  • @zintlebilibana7462
    @zintlebilibana74622 ай бұрын

    2024 new accounting student, and i am glued to this channel. Thank you🎉

  • @DreamFirms
    @DreamFirms Жыл бұрын

    Your efficiency in explaining things never stops to amaze me.

  • @lobbymolapo9096
    @lobbymolapo90962 жыл бұрын

    i failed my first Accounting test at tertiary but after watching your videos i just have a feeling of i'm gonna make it to the Finals

  • @maggymankopodi3381
    @maggymankopodi33813 ай бұрын

    As the beginner I'm soo enjoying and understanding the lessons 🎉🎉.Thank you soo much

  • @SesethuJacobs
    @SesethuJacobs Жыл бұрын

    This channel just makes things easy , I'm always glued on it I don't even see a reason for me to go to lecture

  • @portiapitsi3537
    @portiapitsi35374 ай бұрын

    I'm definitely getting a distinction. May God bless you 🙏

  • @nothandoconfidance4466
    @nothandoconfidance4466 Жыл бұрын

    Thank you for simplyfying accounting in this way its more easier to understand ❤

  • @calevjeremiah
    @calevjeremiah2 жыл бұрын

    I have never done accounting before and just started to do it now in tertiary and your videos are helping me understand the Greek which my Lecture was speaking lol

  • @malebokumako4467

    @malebokumako4467

    2 жыл бұрын

    😅Same here hey

  • @tshimollomotsepe8678

    @tshimollomotsepe8678

    Жыл бұрын

    @@malebokumako4467 same here i just regret y i so these lecture s videos now

  • @SadiyaAbdulhamid-br5jg
    @SadiyaAbdulhamid-br5jg10 ай бұрын

    i really enjoy watching your videos, it has help me alot in understanding accounting from the beginning. thanks alot

  • @malebokumako4467
    @malebokumako44672 жыл бұрын

    🙏thanks again for making accounting look easy not worried for failing my modules

  • @EMMYCHRIS1
    @EMMYCHRIS1 Жыл бұрын

    Excellent and simple enough explanations. Thank you

  • @JesseFavour
    @JesseFavour9 ай бұрын

    thank you for simplifying accounting

  • @katesithole8629
    @katesithole86292 жыл бұрын

    Thankful for these ezexutive summary videos.

  • @WinterBago
    @WinterBago Жыл бұрын

    On my 5th day of learning Accouting..Thank you!

  • @hymnsofeternity1996
    @hymnsofeternity19966 ай бұрын

    Thanks, Thanks and Thanks once more for this simplified Accounting video. Be blessed ❤❤

  • @NASATH3GR3AT
    @NASATH3GR3AT Жыл бұрын

    Just awesome thank you ❤

  • @phalesngoma5979
    @phalesngoma5979 Жыл бұрын

    This is seriously making sense

  • @harissonbond7499
    @harissonbond7499 Жыл бұрын

    Masterfully done and explained. You have gained a subscriber.

  • @asiphegeqevu6066
    @asiphegeqevu60662 жыл бұрын

    thank you good explaination and clear

  • @noluyolodondashe1262
    @noluyolodondashe1262 Жыл бұрын

    This video has helped me a lot. Thank you and I just subscribed

  • @yolandandabeni531
    @yolandandabeni5313 жыл бұрын

    Keep doing the best work…Thank you 👌🏽

  • @yvonnemanyike2793

    @yvonnemanyike2793

    11 ай бұрын

    Wow I'm new in accounting but I can see the light since I started watching your videos thanks

  • @moishe3591
    @moishe35913 жыл бұрын

    Youre a legend

  • @moaviavanwykharden7784
    @moaviavanwykharden7784 Жыл бұрын

    Thank you very much

  • @lindenwallerson6706
    @lindenwallerson67062 ай бұрын

    Thanks!

  • @soul22222
    @soul222226 ай бұрын

    thank u so much sir

  • @Lauraa-cj1wf
    @Lauraa-cj1wf3 жыл бұрын

    Bank reconciliations please

  • @Counttuts

    @Counttuts

    3 жыл бұрын

    See here: kzread.info/dash/bejne/eZ6e2LhqlLixoto.html

  • @barbarakhisa4515
    @barbarakhisa45152 жыл бұрын

    Thanks. My question on interest .Why there is no calculation on prepaid interest?

  • @helmutwagabi6688
    @helmutwagabi668810 ай бұрын

    I am doing Accounting as part of my master's programme in International management. Do you have any video lectures on: Financial Instruments and Hedge Accounting, Revenue Recognition and Construction Contracts, Provisions and Deferred Taxes, Consolidated Financial Statements?

  • @babygirl-gu5py
    @babygirl-gu5py3 жыл бұрын

    Please, can you help something ofr the cash budget please 😩

  • @nireshnigovender6094
    @nireshnigovender6094 Жыл бұрын

    Thank you this is very helpful

  • @Tina_fitnesss
    @Tina_fitnesss2 жыл бұрын

    Hey In the 1st example why did we use R1800 instead of R10000

  • @heartroccs
    @heartroccs Жыл бұрын

  • @sulejamito8968
    @sulejamito89683 жыл бұрын

    Good lecture,...where do you based

  • @Counttuts

    @Counttuts

    3 жыл бұрын

    South Africa

  • @jacquelineuusiku

    @jacquelineuusiku

    Жыл бұрын

    ​@@CounttutsAccounting is the same everywhere right, coz I'm in Namibia in varsity doing acc, and the last time I did accounting was the 9th grade...So yeah, you could say I'm abit behind

  • @audreyjena5987
    @audreyjena59872 жыл бұрын

    🙏🏻🙏🏻❤️

  • @tasharawaller7484
    @tasharawaller74848 ай бұрын

    I dont understand the insurance part tho but your videos are helping me

  • @KhethukuthulaZama
    @KhethukuthulaZama2 ай бұрын

    Why,I didn't know about this channel before 😢, I am failing FAC1501 with 20% I am left with elective assignments 6,7,8,9

  • @SarahModo-ll7nt
    @SarahModo-ll7nt10 ай бұрын

    What are the key points to know when answering this topic please help me

  • @langanontshatsha9375
    @langanontshatsha9375 Жыл бұрын

    Great content as always thanks. Where exactly are in SA?

  • @jasmineannjorgevillareal6396
    @jasmineannjorgevillareal63968 ай бұрын

    I don't understand the part that he divide it by 12?

  • @_salem_4488
    @_salem_44885 ай бұрын

    This part is hard for me to grasp.Navigating the statement with the dates is still a bit challenging.I just have to repeat the lesson and get past papers to practice

  • @brunojurado8942
    @brunojurado8942 Жыл бұрын

    16:00

  • @muhammadrayyan3803
    @muhammadrayyan38035 ай бұрын

    And I wish the video was more helpful

  • @user-fe5mb6cq6y
    @user-fe5mb6cq6y10 ай бұрын

    Am starting to understand accounting but still scared to attempt 😢

  • @faithJames-im7mn

    @faithJames-im7mn

    10 ай бұрын

    Its too enjoyable once you get the concept don't be afraid

  • @muhammadrayyan3803
    @muhammadrayyan38035 ай бұрын

    I really didn’t understand anything