Revenue Recognition Principle in TWO MINUTES!

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Are you looking for the quickest way to understand the Revenue Recognition Principle? Well look no further! In this video you'll find an easy way to understand Revenue Recognition that easy to follow and keep up with.
Budding Accountants often ask "What is Revenue Recognition?", and deservedly so because is one of the main building blocks of Accrual Accounting. This video will teach you the best way to learn Revenue Recognition without wasting any time at all.
Two minutes is all it takes to find out how to understand Revenue Recognition. This episode of Accounting Stuff is Accounting Basics Lesson 9 of our Accounting for Beginners Playlist and will teach you an easy way to learn Revenue Recognition that will help you understand Revenue Recognition Principle Quickly.
⏱️TIMESTAMPS
00:00 - Intro
00:22 - What is Revenue in Accounting?
00:38 - What is the Revenue Recognition Principle?
00:52 - How the Revenue Recognition Principle Works
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#accounting #accountingbasics #accountingstuff

Пікірлер: 449

  • @AccountingStuff
    @AccountingStuff5 жыл бұрын

    I want to say a big THANK YOU to all of you who have supported the channel by watching & subscribing! We've just hit 500 subs in less than 3 months which is fantastic news. Next stop... 1000 🙂 Cheers for all the lovely comments and suggestions. They always motivate me to improve and go the extra mile on each video. As always, let me know if there are any topics you would like covered and I'll see getting them done!

  • @munawarkottakkal

    @munawarkottakkal

    5 жыл бұрын

    Gud work

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    @@munawarkottakkal Cheers mate!

  • @Frozan

    @Frozan

    4 жыл бұрын

    Thanks alot you're the best 😍

  • @bhupendraawasthi8433

    @bhupendraawasthi8433

    4 жыл бұрын

    good work mate. those two minutes really cleared the stuff about revenue recognition method.

  • @mamtarajput5950

    @mamtarajput5950

    3 жыл бұрын

    Interesting.. 👍

  • @divakarpalani2316
    @divakarpalani23165 жыл бұрын

    Finally a cool teacher for accounting

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Haha, cheers buddy

  • @usu866

    @usu866

    3 жыл бұрын

    Oh my god thats correct. He is a best teacher i have seen

  • @pranavpendse8611

    @pranavpendse8611

    Жыл бұрын

    ​@@AccountingStuff is accounting hard?

  • @ramanabalachandhran
    @ramanabalachandhran3 жыл бұрын

    I can't but talk about how well-edited your videos are, James. Huge respect for the attention to details. Thank you so much.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Ramana!

  • @gglyf5716
    @gglyf57164 жыл бұрын

    Thank you so much... you've basically taught me this concept in 2 min when my prof couldn't explain it in 40.. where's my money at

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries, great to hear that it's making sense for you!

  • @mohamedayyub2361
    @mohamedayyub23612 жыл бұрын

    Things you will learn in this video: -Revenue recognition concept -accrued revenue -deferred revenue -what is meant to be Creative -what is meant to be a cool guy -what is meant to be punctual

  • @aishawani9709
    @aishawani97093 жыл бұрын

    A 2 minute video that probably took 2 hours to make (aesthetics and production on point) and saved me 2 hours of time and surfing on different sites. Thank you so much! 🙌🙏

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Glad you enjoyed it! If only it took 2 hours to make...

  • @iglo1209
    @iglo12093 жыл бұрын

    I am so thankful that I started my first year after you made these awesome videos for accountings. I literally read the unit name from my given textbook online and just search those words on youtube and every single time you have a video for it. Thank you so much for making these contents for us. I'm sure there are many more students saved by your videos.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No worries, I'm happy to help! All the best with your studies

  • @scott.j1
    @scott.j14 жыл бұрын

    thank you so much, sir. I'm taking online intro to acct classes... I've learned more from you than the "class." online class is pretty much read and complete online assignments...

  • @turningwest
    @turningwest Жыл бұрын

    James, I LOVE your channel and easy way that you explain these principles. I recommend your channel to all my clients!

  • @jecarthon
    @jecarthon Жыл бұрын

    James is great, thanks for making accounting fun and easy to understand.

  • @tstevens6942
    @tstevens6942 Жыл бұрын

    This is so well detailed and explained in a quick matter of time. Thank you!

  • @Unbreakablehomoud
    @Unbreakablehomoud5 жыл бұрын

    00:54 sec. before continue watching, u have put a great effort in making it clear for beginners to understand. APPRECIATE THAT!

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    No worries Bob!

  • @lisapownall4753
    @lisapownall47533 жыл бұрын

    Another great video! None of my accounting books explained this so well...and using the little car and the cake are awesome for a visual learner like myself. Thanks James!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Lisa :)

  • @Ellie-zq4gd
    @Ellie-zq4gd5 жыл бұрын

    Thank you so much, ive been staring at my textbook totally lost and after watching this video it now makes perfect sense to me! Im definitely drawing that scenario grid in my notes, thanks again!

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Hey Elena, great to hear that this topic is making sense for you! Nice one, it definitely helps to visualise situations on a grid. Good luck with your studies!!

  • @Rob-ed8zk
    @Rob-ed8zk4 жыл бұрын

    You are really good at explaining these concepts. Textbooks examples and other videos arent as easy to understand but yours makes it easy and sticks in my mind. Thank you!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers Rob, great to hear that you're enjoying the vids

  • @legally_chic
    @legally_chic Жыл бұрын

    Honestly, thank you so so much for creating these! 4 years in and the video is still relevant and the quality is as if someone created it yesterday!!!

  • @AccountingStuff

    @AccountingStuff

    Жыл бұрын

    Glad you enjoyed it!

  • @ferdysetia2549
    @ferdysetia2549 Жыл бұрын

    Crystal clear explanation, thank you so much!

  • @jojythomas6872
    @jojythomas68723 жыл бұрын

    great interpretation!! simple, clear and precise. Hats off to you!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Jojy!

  • @sabhachaudhary2063
    @sabhachaudhary2063 Жыл бұрын

    I'm currently studying economics with accounting and ur vids are helping so much! Ty!!

  • @trishlaphul1918
    @trishlaphul19184 жыл бұрын

    when it was time to know about accounting , I found your channel and I must say ...your explanations are very clear ! so a big thank you !

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries Trishla! I'm happy to help :)

  • @tineha
    @tineha2 жыл бұрын

    Such a simple and effective explanation! Thank youu!

  • @oduogyoduogy7247
    @oduogyoduogy72472 жыл бұрын

    Never found a good teacher like you. Understanding Even better than in class

  • @juanfilbert3224
    @juanfilbert32242 жыл бұрын

    This is the best 2 mins I've ever use

  • @roopapatil7890
    @roopapatil78902 жыл бұрын

    Thanks....A simple and easy way to understand the concept

  • @warriorclasheromega5258
    @warriorclasheromega52585 жыл бұрын

    i just subscribed to the channel and would really like to thank you for make these video they really help alot to beginners to accounting like me , keep the good work on .

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Cheers mate! Thanks for subscribing, there are plenty more videos to come. I'm glad you found these helpful

  • @anhdinhthiminh4602
    @anhdinhthiminh46025 жыл бұрын

    Really hope that you'll keep releasing new videos, the materials are extremely helpful and great video edit

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    I don't plan on stopping any time soon! Cheers

  • @rimamarji5144
    @rimamarji51442 жыл бұрын

    I really dont how how to thank you.. i was trying to know what is the realization revenue for like an hour and i have an accounting exam after 2 days and this amazing simple video was enough to make know what a realization revenue is....your awesome!!!!

  • @accounteristcpa9261
    @accounteristcpa92614 жыл бұрын

    You are always so incredible in delivering information creatively. Because of you, I am inspired to be a teacher to future accountants. :) Thank you so much for opening this channel.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks, I'm glad to hear that you're enjoying the videos! Great to hear that you're thinking of teaching others

  • @nicolasoong8051
    @nicolasoong80513 жыл бұрын

    Thank You so much This helps a lot since online classes are just reading notes Your videos are amazing and I really appreciate how well you explain everything

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers! All the best with your studies :)

  • @jobertlantayona6199
    @jobertlantayona61992 жыл бұрын

    awesome! I can confidently do my report tomorrow because of this 💕

  • @happy_person171
    @happy_person171 Жыл бұрын

    best teacher i have seen ever , wow 😧😧😧

  • @aayushisinghbais2133
    @aayushisinghbais21332 жыл бұрын

    Heyy thank you so muchhh!!! Thank you for making a difference. Your videos are such a great help. So grateful to youu💫❤️❤️

  • @charlesmedenilla6527
    @charlesmedenilla65274 жыл бұрын

    these one is a hero!!! more please

  • @jaimiechen7034
    @jaimiechen70342 жыл бұрын

    Easy to understand. Nice job 👍

  • @hemasharma5
    @hemasharma5 Жыл бұрын

    Explained Amazingly with examples

  • @shamilashafiq551
    @shamilashafiq5512 ай бұрын

    im not joking when i say BEST explanation of revenue recognition principle ever!!!!!

  • @iamfabgirl7820
    @iamfabgirl78202 жыл бұрын

    This 2 minutes were definitely worth it.

  • @ayushwaghmare5447
    @ayushwaghmare5447 Жыл бұрын

    it was taking almost an hour to understand this concept and you did it in 2:47

  • @rahmatulloochilov3477
    @rahmatulloochilov34772 жыл бұрын

    Thanks man It's amazing Good luck.!!!

  • @mayhnin8345
    @mayhnin8345 Жыл бұрын

    It was really really helpful . Sending many thanks

  • @carlosmontiel677
    @carlosmontiel6774 жыл бұрын

    Im an accountant and I love watching your videos. Is really useful as for finding New ways of teaching my students the accounting basics. 🙌🤓

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Great to hear that you're enjoying them! I'm happy to help

  • @milbxbycol9426
    @milbxbycol94264 жыл бұрын

    I am an accountant student and I have come across teachers who are not aligned with themselves and their true values. This makes the learning process unmotivated and boring. However, James is an individual who can see the true value not just in his Accounting career but in every single area of his life. This makes a person whole and grounded, able to inspire people with their words, presence and actions. We are lucky James is an accountant and can illuminate us in our preparation with his personality, knowledge and sharp communication skills.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks for your kind words!

  • @Austin-wh4yi
    @Austin-wh4yi5 жыл бұрын

    You should have a lot more subscribers, your content is top tier.

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Thanks Odean!

  • @Spenserifically
    @Spenserifically Жыл бұрын

    I love this thank you so much 💕 very helpful!!👏

  • @annazimmerman225
    @annazimmerman2253 жыл бұрын

    Great example! I can actually picture your examples when I read similar problems. Thanks! I love charts.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks! All the best with your studies

  • @manndesai6173
    @manndesai61733 жыл бұрын

    Thankyou for such a short yet easy to understand video 👍🏼 keep up the good work.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers, will do!

  • @sandraabramova9022
    @sandraabramova90224 жыл бұрын

    Your videos help me understand what accounting is about then a class I sit in for 3 Months.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Great to hear that the vids are helping Sandra!

  • @deiwa2511__
    @deiwa2511__2 жыл бұрын

    I love the way you teach it's understandable 🙂🙂.... Keep it up

  • @neetdodhia2960
    @neetdodhia29604 жыл бұрын

    I love your videos man , watched around 10 videos of yours in the last hour and liked all of them , thank you ❤❤❤

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    That's great to hear thanks!

  • @belugabibletranslations8594
    @belugabibletranslations85943 жыл бұрын

    Bravo! The best visual explanation! Accounting has one of the murkiest terminologies among all professions, I find it more demanding to understand than information technology.

  • @danielv7621
    @danielv76214 жыл бұрын

    The best teacher🔥🔥🔥

  • @fahedalyafiy6215
    @fahedalyafiy621511 ай бұрын

    best accounting channel so far

  • @AccountingStuff

    @AccountingStuff

    11 ай бұрын

    Thank you kindly!

  • @Pj87_
    @Pj87_2 жыл бұрын

    Nice man! your teaching way is awesome 🙌🔥🔥

  • @poncowibowo636
    @poncowibowo6364 жыл бұрын

    Love it!! ur channel helps me to reread and restudy my accounting knowledge, much respect :)

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers Muhammad!

  • @musserashaheen5004
    @musserashaheen5004 Жыл бұрын

    Wow❤️ you are the best teacher your way of explaining is very good 👍 i appreciate you ☺️ plz upload more videos

  • @Saif_Hakami
    @Saif_Hakami2 жыл бұрын

    THANK YOU SO MUCH SIR THIS IS REALLY HELPFUL. you are explaining this complicated subject (to me at least) like it is as simple as 1+1.

  • @AmitKumar-hx4li
    @AmitKumar-hx4li5 жыл бұрын

    Bro the hard work you have done to make this video is absolutely amazing. Keep it up . And definitely one day you gonna be a big KZreadr 😎🎥

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Hey Amit! Thanks for noticing, it's fun putting in the extra effort from time to time. Cheers, and all the best

  • @pankajgupta404
    @pankajgupta4044 жыл бұрын

    Awesome! Very nice way to explain the concept in 2 mins.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks Pankaj!

  • @ivessyy1177
    @ivessyy11774 жыл бұрын

    You are a good accounts teacher and will subscribe to all your channels...thanks alot james...

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks!!

  • @Karan-ix8kh
    @Karan-ix8kh4 жыл бұрын

    Yo thank you. you make these concepts so easy to understand and entertaining at the same time :)

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries Karan, you are very welcome :)

  • @karlag.vasquez5004
    @karlag.vasquez50043 жыл бұрын

    I love your videos!! They are helping me so much with my accounting class.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Karla! Hope it's all going well

  • @tamimabdullah3624
    @tamimabdullah36245 ай бұрын

    I was exactly looking for this, man. thanks

  • @AccountingStuff

    @AccountingStuff

    5 ай бұрын

    No worries, hope it helped :)

  • @influencingmenslifestyle7490
    @influencingmenslifestyle74904 жыл бұрын

    Please don’t ever stop making videos.

  • @uzgower869
    @uzgower8694 ай бұрын

    effective and creative way to teach academic terms. Thank you brotha

  • @AccountingStuff

    @AccountingStuff

    4 ай бұрын

    You're very welcome! Glad you enjoyed it :)

  • @mohsinbaig2195
    @mohsinbaig21952 жыл бұрын

    Watched done 🙌🏼. Man I am in love with this channel. I watched twice, 1st I note down the stuff and 2nd I listened what you said. 💕

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Hope it's making sense!

  • @mohsinbaig2195

    @mohsinbaig2195

    2 жыл бұрын

    @@AccountingStuff yes absolutely ✨

  • @russellfernandez57
    @russellfernandez573 жыл бұрын

    Straight to the point, thanks

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    You're welcome :)

  • @MuntahaBatool28
    @MuntahaBatool283 жыл бұрын

    Amazing Video . This video made this principle So simple and easy to understand

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Muntaha, I'm glad it's making sense

  • @sruthesagayaraja6692
    @sruthesagayaraja66923 жыл бұрын

    Thank you so much for this wonderful explanation!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    You're most welcome :)

  • @ddduva4440
    @ddduva44403 жыл бұрын

    Practical examples. Thank you.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks for your request!

  • @andreabeneke3524
    @andreabeneke35243 жыл бұрын

    This channel is everything! Who needs a university, right? :P

  • @olgayakovleva9163
    @olgayakovleva916312 күн бұрын

    Great video, very clear explanation. thank you!

  • @AccountingStuff

    @AccountingStuff

    11 күн бұрын

    Thanks, glad you enjoyed it!

  • @nurcandashdamirova7864
    @nurcandashdamirova78643 жыл бұрын

    Thank u very much. And i want to say that I didn't feel how time is going when i start to watch your videoss🤩

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    You're most welcome :)

  • @psychoctator2658
    @psychoctator26585 жыл бұрын

    Damn For the 1st time i learn accounting in such an amazing video! U r so cool! I wish i found ur channel so much earlier Definitely subscribe 💘

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Glad you liked the video, and thanks for the sub!

  • @daniellew6908
    @daniellew69084 жыл бұрын

    Very helpful thank you

  • @rowanelassy7529
    @rowanelassy75293 жыл бұрын

    Your vedios’ style is really brilliant.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Rowan :)

  • @RahulVerma-qx9bh
    @RahulVerma-qx9bh Жыл бұрын

    My most knowledgeable 2min😦!

  • @moweenupiah6336
    @moweenupiah63362 жыл бұрын

    This is brilliant mate! Cheers

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    You're most welcome :)

  • @usu866
    @usu8663 жыл бұрын

    Wow you are a cool commerce teacher who i have ever seen

  • @sunshineglow84
    @sunshineglow843 жыл бұрын

    Your videos are so helpful and make accounting fun, and they stick!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks for your kind words!

  • @myexperience4435

    @myexperience4435

    Жыл бұрын

    @@AccountingStuff thanks 🙏 you sir, aapke wajah se account me and English dono achi hogyi meri

  • @ruchikahinduja6571
    @ruchikahinduja65713 жыл бұрын

    WOW!!! very well explained in 2mins. You are awesome. Keep up the good work... You should have a lot more subscribers. I wish you luck :)

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Ruchika!

  • @dkaur1206
    @dkaur12063 жыл бұрын

    Hi James! Your videos are very helpful and easy to understand the accounting concepts. It would be very helpful if you can make a video on revenue recognition for Non-for-profit organization!!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks and cheers for your request!

  • @Janjo64
    @Janjo644 жыл бұрын

    Have a midterm tomorrow and this definitely made me feel better ahh I hope I do well

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Good Luck!!

  • @tszhotorressham1817
    @tszhotorressham18174 жыл бұрын

    gorgeous! easy to understand

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers!

  • @yurimikhailov6321
    @yurimikhailov63214 жыл бұрын

    A video on Inter-company expenses and revenue please :) . I come back to your vids every now and then to refresh concepts

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    👍 Cheers for your suggestion David

  • @Petite43
    @Petite433 жыл бұрын

    thank you for explaining.. I get it , Revenue Recognition when services is provided. you have a new subscriber.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks it's great to have you on board!

  • @srdieselinc1039
    @srdieselinc10394 жыл бұрын

    Yes to longer videos!!

  • @nihmaniufar3027
    @nihmaniufar30273 жыл бұрын

    Fantastic explanation!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks!

  • @jobinjoselukose5534
    @jobinjoselukose55345 жыл бұрын

    I'm impressed.❤️ U earned a new subscriber👍

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Great to have you on board :)

  • @bharani339
    @bharani3393 жыл бұрын

    Top class stuff from James 😍👌🏻

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Bharani!

  • @prasannakumar9592
    @prasannakumar95923 жыл бұрын

    Great Bro, your session is marvellous. Keep doing such good videos for us

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Prasanna, I'm working on more as we speak!

  • @ramanathanmurugesan9567
    @ramanathanmurugesan95674 жыл бұрын

    Thank you very much

  • @yositasunintaboon4455
    @yositasunintaboon44554 жыл бұрын

    Thank you so much for creating this helpful video

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries Yosita

  • @nightthemare4742
    @nightthemare47422 жыл бұрын

    Amazing!

  • @arfenmalik1717
    @arfenmalik17173 жыл бұрын

    Dude i never thought accounting can b soo cool That video was awesome

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks, I'm glad you enjoyed it

  • @TheWiscoKid
    @TheWiscoKid Жыл бұрын

    great work

  • @FredAriiki-go2jw
    @FredAriiki-go2jw2 ай бұрын

    Thanks lam learning alot of accounting stuff.

  • @AccountingStuff

    @AccountingStuff

    2 ай бұрын

    That's great to hear!

  • @katdesenne
    @katdesenne Жыл бұрын

    Thanks!

  • @gmensfashionblog3966
    @gmensfashionblog39662 жыл бұрын

    Wooow, you are amazing !

  • @sultonovt
    @sultonovt2 жыл бұрын

    Amazing! Better than my prof in B-school

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Cheers buddy :)

  • @MJPerformance88
    @MJPerformance8820 күн бұрын

    Thank you. Great to watch your show.

  • @AccountingStuff

    @AccountingStuff

    20 күн бұрын

    Glad you enjoyed it :)

  • @MJPerformance88

    @MJPerformance88

    18 күн бұрын

    @@AccountingStuff Wonderful!