Accrued Expenses Broken Down | Adjusting Entries
💥Adjusting Entries Cheat Sheet → accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → accountingstuff.com/practice-...
To accrue or not to accrue... that is the question. Accrued Expenses are one of the most common types of month end adjusting entries. In this video, you'll find out what they are, and how to accrue an expense using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → • Prepayments and Accrua...
▪ Prepaid Expenses → • How Prepaid Expenses W...
▪ Deferred Revenue → • Deferred Revenue Expla...
▪ Accrued Expenses → • Accrued Expenses Broke...
▪ Accrued Revenue → • Accrued Revenue MADE E...
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#accounting #adjustingentries #accountingstuff
Пікірлер: 475
Amazing how clear you explain everything, the video editing is also the best. Such a talent!
@AccountingStuff
4 жыл бұрын
Thanks for your kind words!
@PeterHarveyUK
2 жыл бұрын
I agree.
@nabahathabdhullah3597
2 жыл бұрын
yes i agree great job
Your stuff is really high end. Carry on man your work will pay off
@AccountingStuff
5 жыл бұрын
Cheers mate!
@randomdosing7535
5 жыл бұрын
@@AccountingStuff tomorrow is my job interview in central bank. Though I have no accounting or financial education background. Any tip or trick?
@AccountingStuff
5 жыл бұрын
Hey, am I too late? How did the interview go? My advice is to relax as much as possible. Try to be present and connect with the interviewer. Good luck!!
@randomdosing7535
5 жыл бұрын
@@AccountingStuff I think I did it horrible. Totally nervous. I knew each and every thing they asked and answered them rather jittery way. BTW thanks for your response.
@AccountingStuff
5 жыл бұрын
@@randomdosing7535 Sorry to hear that. Hopefully it didn't go as bad as you think! I have bombed a few interviews in the past. It has helped me to think of them as learning experiences. What do you think went wrong, and how can you prepare for it next time?
I Found A Gem Right Here. This channel is an Asset.❤
Accounting teachers need to learn from this smart young man !!! Why they dont teach like this?!!!!
@mentalmoneypodcast
9 күн бұрын
OMG, I was just coming here to say this. and I NEVER leave comments on KZread videos. I'm learning about this for something outside of an accounting degree, but if everyone taught like this, I would've studied accounting. Cheers James!
8 years of studying accounting and just now that I get it 😅 thank you so much for the helpful video!!
You really have no idea how amazingly you make the concepts looks so very easy. You really are wonderful tutor with great in-depth knowledge & have awesome way to teach. ❤️ Thank you 🙏
This channel literally change the way accountants see accounting, i never had a creative mindset to see accounting like you sir. Keep up the good works!
@AccountingStuff
3 жыл бұрын
Thanks Rido!
I've just finished my AAT Level 2 course (and passed, thankfully!) and am about to start Level 3, which talks about Accruals and Prepayments.... I had a quick peek in the Tutorial book and sort of understood what they were talking about - but your easy to understand - and very likeable way in which you explain, has really helped me to see 'how' all the transactions are posted in T-Accounts (as I use an Excel spreadsheet for my accounts currently! Thanks for taking the time to post... I will be be making time to watch (and like) all of them!!!!!!!!! :D
I've been searching for this whole day. You have covered the end bit when invoices receive what you should do. Thank you so much x
@AccountingStuff
2 жыл бұрын
No worries, hope you found it useful!
Thank you! This is the best accrual video ever! Not only it is clear but it also goes beyond the basics :)
Thank you so much for all your videos, by far the most informative and high quality out there.
@AccountingStuff
4 жыл бұрын
Cheers Lewis :)
These videos perfectly sync with my lecture content! Thanks so much for making these videos to such a high standard!
@AccountingStuff
3 жыл бұрын
Best of luck with your studies!
Never seen anyone make learning as fun as you do! Thanks for the great video.
@AccountingStuff
3 жыл бұрын
Cheers Christina, hope it helped!
I have been grinding these videos for the past week. You are so much appreciated my man. Thank you!!!
@AccountingStuff
4 жыл бұрын
No worries Timothy!
My most preferred you tube teacher for accounting !
@AccountingStuff
4 жыл бұрын
Wooo, thanks buddy!
probably best accounting videos on YT. and as an accountant I've seen a lot of them. loving it.
@AccountingStuff
3 жыл бұрын
Thanks!!
Currently preparing for my first exam for ACCT 2101, you're a lifesaver!!!
@AccountingStuff
10 ай бұрын
Good luck!!
Thank you so much.. this really helps a lot.. I liked the method you used in this video it's very clear and easy to understand.
This man is literally carrying my grades, thank you!
@AccountingStuff
3 жыл бұрын
No worries, hope it's all going well!
@sapsalingpusacattalkmaykwe1556
2 жыл бұрын
Same as mine. I got the solving thanks to this man. Genius.
Your videos are the easiest to follow that I've seen. Thank you for making these!!!!
@AccountingStuff
3 жыл бұрын
Cheers! I'm happy to help :)
You've explained everything very clearly as always. Thanks a lot!
Thanks for explaining it in detail and simple to understand! I've been struggling trying to understand other tutors, but your explanation is to the point and very clear! You have the potential to become an accounting lecturer!
@AccountingStuff
4 жыл бұрын
Great to hear it's making sense, thanks Lana!
@hi-vx4lk
4 жыл бұрын
If you ever are a tutor online I want to sign up 😉
You’re actually helping me rekindle my love for accounting. Thanks mate!
@AccountingStuff
5 жыл бұрын
That's great to hear!
I really love and appreciate how you presented the topic! Salamat! From The Philippines.
I love this tutorial is very clear to me. understandable than any other tutorials..❤❤❤
I love this channel! Going from nursing to accounting in about 2 months helped me become incredibly confident in how to do this whole new career for me, and I am loving every minute of it thanks to you James. Can't wait for more content from you, keep up the awesome work!
@landonwilliams610
Жыл бұрын
I went from nursing to accounting too! People look at me with so much confusion when I tell them hahaha
@filopride619
Жыл бұрын
@@landonwilliams610 Yeah me too! They get very confused as to why and I just say, "people destroy themselves easier financially than physically". So I want to help prevent that.
@twinnyinnocent5741
4 ай бұрын
same here
This is amazing!!! your 10mins video explains the same thing that my CPA 500 pages book does!!
Hey I haven't watched your video for a while, but I still love it so much. Keep on it! Surely recommending it to people I know struggling with accounting!
@AccountingStuff
4 жыл бұрын
Thanks, that would be much appreciated! I'm working on some new videos as we speak
i think its great you sell these cheat sheets, thank you they are great! Keep posting those videos Handsome!
Your videos really help me understand my accounting textbook. Thanks.
your KZread videos are awesome and it's very easy to understand, It helped me a lot as I never understood accrual and now I am sure what is exactly accrual means and entries. one more thing- you told about the word 'DEALER' in your earlier videos that's also very easy to understand and while doing journal entries I am applying this logic. Please keep posted this kind of videos and you are wonderful tutor. Thanks again sir .
Great video, you explain things well and the editing is very nice too! This helped me understand it better rather reading the textbook which is really boring. I watched each video in the series, great work
@AccountingStuff
3 жыл бұрын
Thanks! Great to hear it's making sense :)
I just love you man . I understood very clearly. I have been struggling for a long time.. so much love and strength to you.❤️
@AccountingStuff
3 жыл бұрын
Great to hear it's making sense :)
I can tell that you got together for a laugh with your friends and come up with the exaggerated accentuations, but it's a great idea, working well. I even bought all your help sheets.
@AccountingStuff
3 жыл бұрын
Thanks for your support!! All the best :)
I cannot thank you enough for this video. When you talked about the two accounting triggers, the context made sense. I agree with all the comments, you are a Star !!!!!
@AccountingStuff
7 ай бұрын
Great to hear it's making sense :)
I have my accounting midterm tomorrow and these videos are reallyyyyy helping me understand the material!
@AccountingStuff
3 жыл бұрын
Good luck!!!
thank you for making me enjoy in learning more in accounting rather than being exhausted as I suck up these things in my head.
@AccountingStuff
3 жыл бұрын
No worries, I'm happy to help!
dude I give you credit, your channel makes a good attempt at making accounting cool, if that is ever possible
@AccountingStuff
3 жыл бұрын
Haha, thanks!
This is just what I was looking for. My profs defined debit as "left" and credit as "right" and asked us to memorize it. Great explanation!
@AccountingStuff
3 жыл бұрын
Thanks Amit!
@thamzhiyong3161
2 жыл бұрын
That definition is kinda what professors only remember
@roslynpaige4442
11 ай бұрын
I wonder, are profs even accountants? How can they teaching accounting if they aren't' even an accountant themself
Amazing work! You do an excellent job explaining these concepts!!
@AccountingStuff
Ай бұрын
Thanks, glad you enjoyed it!
I am two months into my first accounting class. Your videos are easy to follow and understand, unlike my instructor. Amazing job! Thank you tremendously
@AccountingStuff
3 жыл бұрын
Cheers Kacey!
@marveloussuperboy6370
Жыл бұрын
Heck same
You are wonderful.Your explanation is very impressive.Thanks so much .
Thanks, man. Your videos are a breath of fresh air. Thanks for making it interesting, man.
@AccountingStuff
3 жыл бұрын
Cheers Tony :)
Another great video. Thank you!
This was what I used to do at work but it is still good to review😊👍Thank you James
@AccountingStuff
4 жыл бұрын
Sometimes it's worth revisiting the basics. Glad you enjoyed it
I appreciate ur time to make these great videos that i find extremely helpful.
@AccountingStuff
2 жыл бұрын
No problem at all :)
You're such a light to this world
Can you do a video about contra- accounts
Thanks for this detail video..you go to the indepth concept so we are able to understand it clearly.
@AccountingStuff
3 жыл бұрын
No problem, happy to help :)
Thank you !! The whole series is SO helpful. Watching from Toronto :)
@AccountingStuff
3 жыл бұрын
Cheers Julia! All the best with your studies :)
@ashrafulmahmud7866
3 жыл бұрын
You are the best teacher
🤯 You make it so easy to learn accounting!
Videos are super high quality. Love it.
@AccountingStuff
4 жыл бұрын
Cheers Matt!
Excellent explanation. Many thanks for your easy way of let one understand.
@AccountingStuff
10 ай бұрын
Thank you thank you
Just purchased all of your cheat sheets! Wanted to support my virtual accounting professor lol, keep up the great work!
@AccountingStuff
3 жыл бұрын
Cheers Juan! Thanks for your support :)
This is really helpful! Thank you!
Thank u sm for your great works and efforts you put into this video helping me so much for further exams
thank you for explanation! your video editing is a another amazing stuff !
@AccountingStuff
3 жыл бұрын
Cheers, glad you enjoyed it!
You are so great sir, as your videos are helping me a lot. thanks
Lockdown marathon update: 27 videos watched 10 videos left to go. Phew
@kingtigercrownestate9102
3 ай бұрын
Are you in the penitentiary? How did you get locked up?
@GraceCreatesLivingSpace
8 күн бұрын
@@kingtigercrownestate9102bro, COVID lockdown
Thank youuuuuu for theses videos , you're way better than my uni teacher!!!!
@AccountingStuff
4 жыл бұрын
No worries Victoria, you are most welcome
Your videos are always so helpful. I have a quick question about 9:28. You said invoices are accounting triggers but if I'm not using automatic accounting software and inputting the water bill invoice manually into the GL, could I just use the journal entry below instead of overstating Utilities Expense by 100 and then having to correct it? Thank you. Debit Utilities Expense - 53 Debit Accrued Expenses - 100 Credit Utilities Payable - 153
Another amazing video, super helpful, as always!
@AccountingStuff
5 жыл бұрын
Cheers Michele!
thank you so much for this. So accurals are accounting tools to account for when an expense is accured but not paid. And their purposes are so that the financial statements are more accurate :)
@AccountingStuff
3 жыл бұрын
Pretty much! But be careful because 'Accrual' can also mean 'Accrued Revenue' so the definition is broader than Expenses
Excellent explanation, I am an italian bookkeeper but the rules are the same and it has helped me so much !
@AccountingStuff
3 жыл бұрын
Thank you! Yes, these basic principles are universal
This channel is very essential it build up my knowledge. Please sir I need economy from a to z
This is soo helpful thank you soo much !
Thank you so much! Great staff...simple and easy
@AccountingStuff
2 жыл бұрын
No problem, you're welcome :)
Godddddd your amazing .. thanks a lot for making me get this ....... finalllllllyyyyy .... got this accrued thing into my head
@AccountingStuff
5 жыл бұрын
Hey Thasleem! Thanks, glad to hear it's making sense for you!!
Wow ! You make accounting so easy. Thank you
@AccountingStuff
8 ай бұрын
You're most welcome :)
Your videos were totally incredible! I've never commented for any videos before except yours haha
@AccountingStuff
4 жыл бұрын
Thanks! I'm honoured to receive your first comment! All the best
Wow.... This Video is too Helpfull for my Accounting knowledge Thankyou so much....😊
@AccountingStuff
3 жыл бұрын
No worries Vikesh :)
Fantastic explanation as always!
@AccountingStuff
6 ай бұрын
Thanks!
You're the accounting god❤️❤️
Thank you so much for this!
You are just amazing!
Amazing you explained clearly and supper pronounced. Thank you so much dear😍
@AccountingStuff
2 жыл бұрын
Glad you liked it :)
i like the method you use to teach ... keep it up ...
@AccountingStuff
5 жыл бұрын
Cheers mate
Thanks!!!!!!!!!! High quality content.
@AccountingStuff
3 жыл бұрын
No worries, all the best!
Great video, very explicit
@AccountingStuff
4 жыл бұрын
Cheers Ambroise
very clear and fantastic explanation.
@AccountingStuff
2 жыл бұрын
Thanks! All the best :)
YESSSSS I NEED THIS SO MUCH
Amazing brilliant and talented. Makes it so easy to understand
@AccountingStuff
3 жыл бұрын
Thanks for your kind words!
Thank you for this amazing explanation!
@AccountingStuff
2 жыл бұрын
You're most welcome :)
💛 thank you! I’ve finally stopped banging my head against the desk
@AccountingStuff
3 жыл бұрын
No problem, hope it helps!
I don’t understand anything in school, this will definately help me get a good grade in account.. bless you !✨❤️
@AccountingStuff
2 жыл бұрын
You've got this!! Best of luck :)
All this for a flipping water bill? Accounting is so complicated! Thank you so much for making these awesome videos, I'm brand new to accounting and have to do it online with a textbook our professor has stated is terrible so this is really helping! Can I adopt you as my tutor??
Thanks, now i got better understanding about AE
@AccountingStuff
4 жыл бұрын
Nice one! Adjusting Entries can be tricky at first, but they really aren't too bad once you get your head around them
Very helpful 😇
Thank you so much for these.
@AccountingStuff
Ай бұрын
You're very welcome :)
i love this guy
Amazing content brother!
@AccountingStuff
4 жыл бұрын
Thanks mate!
I enjoyed this video with the background sound I understand everything
@AccountingStuff
2 жыл бұрын
Great to hear it's making sense!
Great video 👍🏼
@AccountingStuff
3 жыл бұрын
Thanks!
Very nice how you explained everything 👍
@AccountingStuff
3 жыл бұрын
Thank you 🙂
That intro song today...YESSSS. Got me hype for accrued expenses even though I'm brutal at accounting haha
@AccountingStuff
2 жыл бұрын
Haha, glad you enjoyed it :)
Thanks for this great video James... accruals explained to a T 😁🔥👍🏽🧡🕉
@AccountingStuff
8 ай бұрын
Thanks, I'm glad you enjoyed it
The legend we needed.
@AccountingStuff
3 жыл бұрын
Thanks :)
You are TOO GOOD
This is what Explanation Weldone
@AccountingStuff
3 жыл бұрын
Thanks Shabir!
Great Channel!
@AccountingStuff
3 жыл бұрын
Thanks Akanksha!