Accrual Accounting: How it Works & Why it's #1!
💥Cash vs Accrual Accounting Cheat Sheet → accountingstuff.com/shop
🖊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.
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️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?
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
🚶FOLLOW ME ON
▪ Instagram → / accountingstuff
▪ TikTok → / accounting_stuff
▪ Facebook → / thisisaccountingstuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → • ACCOUNTING BASICS for ...
________________________
DISCLAIMER
Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________
#accounting #accountingbasics #accountingstuff
Пікірлер: 417
Who would be interested in some videos covering practice questions on each topic?
@shaheedalhelal
5 жыл бұрын
intrested =^>
@AccountingStuff
5 жыл бұрын
@@shaheedalhelal Thanks for watching, I'm putting out a video on practice questions on Monday :)
@AccountingStuff
5 жыл бұрын
@@shaheedalhelal Hey Shaheed, I've just put up a vid covering practice questions on Debits and Credits --> kzread.info/dash/bejne/q3eDvJmaqc-pYMY.html Give me a shout if there are any other topics you would like me to do questions on as well
@SuperlativeRam
5 жыл бұрын
Yes, longer videos would be great.
@nataliedeveaux5631
5 жыл бұрын
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 .
@AccountingStuff
4 жыл бұрын
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 glad I found your channel!!! Started studying accounting and this really helps cuz I'm a visual learner!! Thank you so much!
@AccountingStuff
4 жыл бұрын
No problem Deanna, I am also a visual learner so can appreciate the struggle with textbooks etc. 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.
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.
@AccountingStuff
5 ай бұрын
Great to hear it's clicking for you!!
I love your video production man! Great content making job!
@AccountingStuff
3 жыл бұрын
Thanks buddy!
I am so happy that I discovered your channel. I was having such a difficult time in accounting and this is really helping
@AccountingStuff
3 жыл бұрын
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!
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
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!
@AccountingStuff
4 жыл бұрын
I hope so - Good luck with your course!
This dude is the MVP. Thanks you sir!
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
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.
@AccountingStuff
3 жыл бұрын
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!
@AccountingStuff
3 жыл бұрын
Cheers Jennifer! Hope your studies are going well :)
You're absolutely the best! Thank you man!💪💪💪
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!
@AccountingStuff
3 жыл бұрын
Hey Marie, best of luck in your final exam!!! Hope it goes well :)
Great explanation !! Thank you!!!
Love the way you talk.
You are a great teacher.
Professor James, Thank you again haha. I literally watch your videos before i review my lecture material. Helps me understand 100x faster.
@AccountingStuff
3 жыл бұрын
Great to hear it's making sense! All the best in your studies :)
I just watched five videos on this topic for school and this was the most clear example.
@AccountingStuff
3 жыл бұрын
Thanks Scott, hope it's making sense :)
these videos and playlist are epic!!! your a lifesaver!
@AccountingStuff
4 жыл бұрын
Cheers James, I'm happy to help!
Your videos really helped me a lot . Thanks for sharing such useful videos .
Easy and Simple...!!! Thanks a ton...!!!
Yes please do the practice questions!
Really helpful. Thanks. Keep it up.
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.
@AccountingStuff
5 жыл бұрын
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?
@AccountingStuff
5 жыл бұрын
Hey Joanna, the first practice question video is up --> kzread.info/dash/bejne/q3eDvJmaqc-pYMY.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
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.
@AccountingStuff
5 жыл бұрын
Thank you! Great to hear that you are finding the videos useful. There are more coming soon!
your videos and al your lectures really help me while having deep problems in my accounting... thanks a million for your hard working ..
I love that you make account so much fun♥️
@AccountingStuff
4 жыл бұрын
No worries Rosemarie, I'm happy you are enjoying it!
Brilliant video! Thank you 🙏
Concise explanation. Thanks
Thank you dude! Your videos are so incredibly helpful it’s genuinely amazing
@AccountingStuff
3 жыл бұрын
Cheers Nathan! All the best :)
I had a great time learning accounting with you today. Thanks a lot
@AccountingStuff
3 жыл бұрын
Cheers buddy :)
you made this easy to understand. thanks
Thank you, very helpful
Great staff, im just on my way to learn ACCA Financial Accounting and found ur channel here hope ur videos will help me
@AccountingStuff
4 жыл бұрын
I hope so too! Good luck with your studies
You don't only explain beautifully but also the video quality (editing, sounds, production) is amazing.
@AccountingStuff
2 жыл бұрын
Thanks, I'm glad you enjoyed it :)
Great video ! Thanks a lot :)
Thanks for the understanding bro.
Currently reading publication 535 and this was really difficult to grasp but your video really helped. Thank you 👏🏽
Life saver, once again.
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!
@AccountingStuff
4 жыл бұрын
Hey Bonnie, it's great to smashing your accounting classes! Keep up the good work :)
great videos, thanks a bunch
very clear explanation, thank you!
@AccountingStuff
4 жыл бұрын
No worries :)
You saved a Chinese business student! Thank you so much
@AccountingStuff
5 жыл бұрын
You are welcome, it's great to hear that you found it useful
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)
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!
@AccountingStuff
5 жыл бұрын
Thanks for the feedback Mark, I'll bear that in mind for future videos!
This is SO helpful, THANK YOU!!!
@AccountingStuff
3 жыл бұрын
Cheers, you're most welcome :)
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.
@AccountingStuff
5 жыл бұрын
Hey thanks! And cheers for the suggestion, I'll bear that in mind!
Yes examples would be very useful
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
@AccountingStuff
4 жыл бұрын
Thanks Sunny! It's great to hear that you're finding the content helpful. I plan to release many more soon
You make accounting funny and easy! Keep up the good job
@AccountingStuff
4 жыл бұрын
Thanks Dani, I'm glad you think so. All the best
Thank you!!!!!!!!!!!!!!!!!!! SUPER helpful!!
You are an answered prayer to accounting students like me. Thank you so much ❤
@AccountingStuff
4 жыл бұрын
You're welcome, I'm happy to help!
Thank you Your teaching method is amazing
@AccountingStuff
4 жыл бұрын
Cheers Eva :)
Very good explanation. Thanks.
@AccountingStuff
3 жыл бұрын
Cheers Ionut!
Great stuff. Make more please
This was super cool .. ur teaching is awesome .. thumbs up to you👍 sir ... glad I found these videos
@AccountingStuff
5 жыл бұрын
Thanks Thasleem!!
Excellent! Thank you
@AccountingStuff
3 жыл бұрын
Thanks :)
This is great!
Cool! I love the way you explain complicate methods, and the most important you master the subject. My congrats💯💻📖📚💲🗂📎📌📓🗒📆✏💡
@AccountingStuff
2 жыл бұрын
Thanks Martha, all the best :)
thank you so much, you explained this waaaaay better than my lecturer did.
@AccountingStuff
3 жыл бұрын
Cheers Alex!
Thank you, subscribed for more accounting stuff!
Thanks for the video mate👍👍
@AccountingStuff
3 жыл бұрын
You're very welcome :)
longer videos and practise questions would be a great addition these awesome videos!
@AccountingStuff
4 жыл бұрын
Cheers Katriina!
my 3 hour lecture was summed up in 6 minutes. just sent you thank you cash. amazing
@AccountingStuff
26 күн бұрын
Great to hear it made sense :)
That would be so helpful indeed
Thank you for your work , it’s very useful in my studies
@AccountingStuff
3 жыл бұрын
No problem, best of luck with it all!
Thank you
Brilliant video background, concept is simply presented. Thanks
@AccountingStuff
3 жыл бұрын
Cheers Salman!
great video man. youre a top bloke
@AccountingStuff
4 жыл бұрын
Cheers mate!
Thanks
Yes, practice problems are the best!
@AccountingStuff
4 жыл бұрын
Cheers Eric!
Thank you very informative!!!
@AccountingStuff
9 ай бұрын
Thanks, that's good to hear!
Your video is very helpful 👍🏻
@AccountingStuff
3 жыл бұрын
Thanks Rajiv!
These video's are very useul James, keep them coming
@AccountingStuff
9 күн бұрын
Thanks, that's great to hear!
this helped so much!!!!
@AccountingStuff
4 жыл бұрын
That's great to hear :)
Thank you so much!!!
Yes please, I need practice!
You are helping me so so so much ! I really appreciate you and your videos ! Thank you , sir , keep up the magnificent work !
@AccountingStuff
4 жыл бұрын
No worries, it's great to hear that the vids are helping. Good luck with your studies!
Love your teaching method
@AccountingStuff
10 күн бұрын
Thank you!
I really understand your videos thank
@AccountingStuff
3 жыл бұрын
Cheers, glad they're making sense :)
It will be really useful to solving more problems
@AccountingStuff
Жыл бұрын
Glad to hear it!
Your videos are life savings to me. I always watch them before I start an exam on a particular subject. Thanks 🙏
@AccountingStuff
3 жыл бұрын
Glad to hear it! Hope your exams are going well :)
@VA-jf5pb
3 жыл бұрын
@@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.
@AccountingStuff
3 жыл бұрын
@@VA-jf5pb Thanks awesome, congrats!!!
Thank you for always coming up with those creative examples that can clear all my confusions. You are amazing sir! :)
@AccountingStuff
4 жыл бұрын
No worries, hope it's making sense!
@accounteristcpa9261
4 жыл бұрын
@@AccountingStuff I'm having trouble with corporation accounting. Can you recommend me a book to read for this particular topic? thank you so much :)
@AccountingStuff
4 жыл бұрын
@@accounteristcpa9261 Hmmm... for beginners I recommend "The Accounting Game"
well done
I would really love it if you started some longer form videos with practices. I appreciate your channel so much...thank you !
@AccountingStuff
4 жыл бұрын
Thanks for your suggestion Julisca, I'm considering trying out some longer formats
yes i would like for you to show more in detail
keep up the tremendous content
@AccountingStuff
4 жыл бұрын
Thanks!
Grateful 👽
You are a genius!!!
@AccountingStuff
3 жыл бұрын
Thanks for your kind words :)
good video, cheers bro
Yes!! Practice problems please!!
@AccountingStuff
5 жыл бұрын
👍Thanks KittySchmrl, I will look into making some
@AccountingStuff
5 жыл бұрын
Heya, I've put up a vid on Debit & Credit practice problems --> kzread.info/dash/bejne/q3eDvJmaqc-pYMY.html Please let me know if there are any other areas you would like me to cover?
thank u so much !
@AccountingStuff
3 жыл бұрын
You're most welcome :)
nice stuff!
@AccountingStuff
4 жыл бұрын
Cheers Theo!
awesome!
@AccountingStuff
3 жыл бұрын
Thanks!
You are amazing thank you
@AccountingStuff
3 жыл бұрын
Thanks for your kind words!
Ty
Yes please make the long practice problem videos.
@AccountingStuff
5 жыл бұрын
Hey Claudia, thanks for your suggestion. I'll keep that in mind!
Thank a lot ...
@AccountingStuff
4 жыл бұрын
No problem :)