Accrued Expenses Broken Down | Adjusting Entries

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  • Опубликовано: 26 июн 2024
  • 💥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

Комментарии • 472

  • @mazenal-hakimi8908
    @mazenal-hakimi8908 2 года назад +7

    Accounting teachers need to learn from this smart young man !!!
    Why they dont teach like this?!!!!

  • @mariafatimataylor4746
    @mariafatimataylor4746 4 года назад +108

    Amazing how clear you explain everything, the video editing is also the best. Such a talent!

  • @tokolloramalepe
    @tokolloramalepe Год назад +4

    I Found A Gem Right Here.
    This channel is an Asset.❤

  • @randomdosing7535
    @randomdosing7535 5 лет назад +111

    Your stuff is really high end. Carry on man your work will pay off

    • @AccountingStuff
      @AccountingStuff  5 лет назад +7

      Cheers mate!

    • @randomdosing7535
      @randomdosing7535 5 лет назад +3

      @@AccountingStuff tomorrow is my job interview in central bank. Though I have no accounting or financial education background. Any tip or trick?

    • @AccountingStuff
      @AccountingStuff  5 лет назад +5

      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
      @randomdosing7535 5 лет назад +2

      @@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
      @AccountingStuff  5 лет назад +12

      @@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?

  • @MMNNLL2468
    @MMNNLL2468 Год назад +5

    8 years of studying accounting and just now that I get it 😅 thank you so much for the helpful video!!

  • @ridozeindytaadicandra6417
    @ridozeindytaadicandra6417 3 года назад +12

    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!

  • @zobair2898
    @zobair2898 4 года назад +12

    My most preferred you tube teacher for accounting !

  • @jasonkatz6067
    @jasonkatz6067 3 года назад +11

    This man is literally carrying my grades, thank you!

  • @muhammadanwarulhaq5128
    @muhammadanwarulhaq5128 2 года назад +3

    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 🙏

  • @TheElkster
    @TheElkster 10 месяцев назад +3

    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

  • @AA-xk4qu
    @AA-xk4qu 2 года назад +3

    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

  • @hanhan-ch2ll
    @hanhan-ch2ll 9 месяцев назад +3

    Currently preparing for my first exam for ACCT 2101, you're a lifesaver!!!

  • @christinaahn1887
    @christinaahn1887 3 года назад +3

    Never seen anyone make learning as fun as you do! Thanks for the great video.

  • @filopride619
    @filopride619 Год назад +12

    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
      @landonwilliams610 Год назад +2

      I went from nursing to accounting too! People look at me with so much confusion when I tell them hahaha

    • @filopride619
      @filopride619 Год назад +1

      @@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
      @twinnyinnocent5741 3 месяца назад

      same here

  • @amitferman4723
    @amitferman4723 3 года назад +19

    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
      @AccountingStuff  3 года назад

      Thanks Amit!

    • @thamzhiyong3161
      @thamzhiyong3161 2 года назад +1

      That definition is kinda what professors only remember

    • @roslynpaige4442
      @roslynpaige4442 11 месяцев назад

      I wonder, are profs even accountants? How can they teaching accounting if they aren't' even an accountant themself

  • @Paranav375
    @Paranav375 3 года назад +2

    These videos perfectly sync with my lecture content! Thanks so much for making these videos to such a high standard!

  • @100AcreWoodz1
    @100AcreWoodz1 4 года назад

    I have been grinding these videos for the past week. You are so much appreciated my man. Thank you!!!

  • @lindaxiong7588
    @lindaxiong7588 4 года назад +26

    Can you do a video about contra- accounts

  • @MS-es6uq
    @MS-es6uq 3 года назад

    probably best accounting videos on YT. and as an accountant I've seen a lot of them. loving it.

  • @mariannamarianna2319
    @mariannamarianna2319 10 месяцев назад

    Thank you! This is the best accrual video ever! Not only it is clear but it also goes beyond the basics :)

  • @angelina9505
    @angelina9505 4 года назад +3

    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
      @AccountingStuff  4 года назад

      Great to hear it's making sense, thanks Lana!

    • @hi-vx4lk
      @hi-vx4lk 3 года назад

      If you ever are a tutor online I want to sign up 😉

  • @emilee2588
    @emilee2588 3 года назад +1

    Your videos are the easiest to follow that I've seen. Thank you for making these!!!!

  • @TheRobbo007
    @TheRobbo007 4 года назад

    You’re actually helping me rekindle my love for accounting. Thanks mate!

  • @lewis9599
    @lewis9599 4 года назад +4

    Thank you so much for all your videos, by far the most informative and high quality out there.

  • @milanpintar
    @milanpintar 3 года назад

    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.

  • @thomasnithin21
    @thomasnithin21 4 года назад +40

    Lockdown marathon update: 27 videos watched 10 videos left to go. Phew

  • @ilayda9067
    @ilayda9067 4 года назад +10

    You've explained everything very clearly as always. Thanks a lot!

  • @sweetshado1871
    @sweetshado1871 4 года назад +2

    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.

  • @littlemagicpenguin9576
    @littlemagicpenguin9576 4 года назад +1

    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
      @AccountingStuff  4 года назад

      Thanks, that would be much appreciated! I'm working on some new videos as we speak

  • @isaaclaci7147
    @isaaclaci7147 6 месяцев назад

    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 !!!!!

  • @gariellesamaniego9946
    @gariellesamaniego9946 3 года назад +1

    thank you for making me enjoy in learning more in accounting rather than being exhausted as I suck up these things in my head.

  • @doantrangtrannguyen31
    @doantrangtrannguyen31 2 года назад

    This is amazing!!! your 10mins video explains the same thing that my CPA 500 pages book does!!

  • @Ddstairclimber
    @Ddstairclimber 3 года назад +2

    dude I give you credit, your channel makes a good attempt at making accounting cool, if that is ever possible

  • @lorraineuy
    @lorraineuy 2 года назад

    You're such a light to this world

  • @cassierabe2491
    @cassierabe2491 2 года назад

    I really love and appreciate how you presented the topic! Salamat! From The Philippines.

  • @veronicadeleon1964
    @veronicadeleon1964 3 года назад

    i think its great you sell these cheat sheets, thank you they are great! Keep posting those videos Handsome!

  • @kaceykleineck
    @kaceykleineck 3 года назад +2

    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

  • @aloadoftrash2634
    @aloadoftrash2634 3 года назад +2

    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
      @AccountingStuff  3 года назад +1

      Thanks! Great to hear it's making sense :)

  • @kavyasharma6358
    @kavyasharma6358 3 года назад

    I just love you man . I understood very clearly. I have been struggling for a long time.. so much love and strength to you.❤️

  • @prudenceinoni4690
    @prudenceinoni4690 Год назад

    I love this tutorial is very clear to me. understandable than any other tutorials..❤❤❤

  • @kennedysanders9784
    @kennedysanders9784 3 года назад

    I have my accounting midterm tomorrow and these videos are reallyyyyy helping me understand the material!

  • @tiitus.crawford4025
    @tiitus.crawford4025 Год назад

    Your videos really help me understand my accounting textbook. Thanks.

  • @PEbro34
    @PEbro34 3 года назад

    Just purchased all of your cheat sheets! Wanted to support my virtual accounting professor lol, keep up the great work!

  • @eirene1998
    @eirene1998 4 года назад

    This was what I used to do at work but it is still good to review😊👍Thank you James

    • @AccountingStuff
      @AccountingStuff  4 года назад

      Sometimes it's worth revisiting the basics. Glad you enjoyed it

  • @Alastair-ix8pz
    @Alastair-ix8pz Год назад

    Another great video. Thank you!

  • @alyssac5415
    @alyssac5415 2 года назад

    🤯 You make it so easy to learn accounting!

  • @shiwalitate55
    @shiwalitate55 Год назад

    your RUclips 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 .

  • @anthonywurst2548
    @anthonywurst2548 3 года назад

    Thanks, man. Your videos are a breath of fresh air. Thanks for making it interesting, man.

  • @juliabelouis1775
    @juliabelouis1775 3 года назад

    Thank you !! The whole series is SO helpful. Watching from Toronto :)

  • @muhamadsharizan392
    @muhamadsharizan392 3 года назад +1

    You're the accounting god❤️❤️

  • @Credinellatuastoria
    @Credinellatuastoria 5 лет назад

    Another amazing video, super helpful, as always!

  • @qingyanwang7081
    @qingyanwang7081 4 года назад

    Your videos were totally incredible! I've never commented for any videos before except yours haha

    • @AccountingStuff
      @AccountingStuff  4 года назад +1

      Thanks! I'm honoured to receive your first comment! All the best

  • @thasleeminthash4435
    @thasleeminthash4435 5 лет назад +3

    Godddddd your amazing .. thanks a lot for making me get this ....... finalllllllyyyyy .... got this accrued thing into my head

    • @AccountingStuff
      @AccountingStuff  5 лет назад

      Hey Thasleem! Thanks, glad to hear it's making sense for you!!

  • @mattwestelman9359
    @mattwestelman9359 4 года назад +1

    Videos are super high quality. Love it.

  • @Luzyschannel
    @Luzyschannel Год назад

    This is really helpful! Thank you!

  • @victoriarevenco7005
    @victoriarevenco7005 4 года назад

    Thank youuuuuu for theses videos , you're way better than my uni teacher!!!!

  • @oscarjim570
    @oscarjim570 10 месяцев назад

    You are wonderful.Your explanation is very impressive.Thanks so much .

  • @amh9738
    @amh9738 2 года назад

    I appreciate ur time to make these great videos that i find extremely helpful.

  • @user-nw4hl5vj7q
    @user-nw4hl5vj7q 3 года назад

    thank you for explanation! your video editing is a another amazing stuff !

  • @raneilfederico2865
    @raneilfederico2865 2 года назад

    Thank you so much for this!

  • @manuthtechniques3032
    @manuthtechniques3032 4 года назад

    You are so great sir, as your videos are helping me a lot. thanks

  • @ashh636
    @ashh636 3 года назад

    YESSSSS I NEED THIS SO MUCH

  • @Sarah-ms6uh
    @Sarah-ms6uh 2 года назад

    This is soo helpful thank you soo much !

  • @vikash545848
    @vikash545848 3 года назад

    Thanks for this detail video..you go to the indepth concept so we are able to understand it clearly.

  • @tamersite
    @tamersite 12 дней назад

    Amazing work! You do an excellent job explaining these concepts!!

  • @mariajankowsky
    @mariajankowsky 2 года назад

    Thank you so much! Great staff...simple and easy

  • @bergaaaaaaa
    @bergaaaaaaa 3 года назад

    You are just amazing!

  • @perriwallace8639
    @perriwallace8639 3 года назад +1

    💛 thank you! I’ve finally stopped banging my head against the desk

  • @dreambig9444
    @dreambig9444 Год назад

    Holy fuckin shit this is the only accrual video on youtube that actually makes sense. Thank you!!!!

  • @James-ip5gz
    @James-ip5gz 3 года назад +9

    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

  • @thasleeminthash4435
    @thasleeminthash4435 5 лет назад +1

    i like the method you use to teach ... keep it up ...

  • @ArsenicCriminal
    @ArsenicCriminal 3 года назад +2

    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
      @AccountingStuff  3 года назад +3

      Pretty much! But be careful because 'Accrual' can also mean 'Accrued Revenue' so the definition is broader than Expenses

  • @infullbloom3844
    @infullbloom3844 7 месяцев назад

    Wow ! You make accounting so easy. Thank you

  • @iditah
    @iditah 9 месяцев назад

    Excellent explanation. Many thanks for your easy way of let one understand.

  • @limliangyan8284
    @limliangyan8284 2 года назад

    Thanks!!!!!!!!!! High quality content.

  • @archanarao_
    @archanarao_ 2 года назад

    Thank you for this amazing explanation!

  • @vikeshparmar8429
    @vikeshparmar8429 3 года назад

    Wow.... This Video is too Helpfull for my Accounting knowledge Thankyou so much....😊

  • @hayleynonu3974
    @hayleynonu3974 10 месяцев назад

    Thank u sm for your great works and efforts you put into this video helping me so much for further exams

  • @cristinamarrone8515
    @cristinamarrone8515 3 года назад

    Excellent explanation, I am an italian bookkeeper but the rules are the same and it has helped me so much !

    • @AccountingStuff
      @AccountingStuff  3 года назад

      Thank you! Yes, these basic principles are universal

  • @nomad_grant
    @nomad_grant 5 месяцев назад

    Fantastic explanation as always!

  • @reviindrawan9881
    @reviindrawan9881 4 года назад

    Thanks, now i got better understanding about AE

    • @AccountingStuff
      @AccountingStuff  4 года назад

      Nice one! Adjusting Entries can be tricky at first, but they really aren't too bad once you get your head around them

  • @frimpongsabatocollins5543
    @frimpongsabatocollins5543 2 года назад

    very clear and fantastic explanation.

  • @Precocity12
    @Precocity12 Год назад

    This channel is very essential it build up my knowledge. Please sir I need economy from a to z

  • @Sarah-ms6uh
    @Sarah-ms6uh 2 года назад

    I don’t understand anything in school, this will definately help me get a good grade in account.. bless you !✨❤️

  • @Azhark94
    @Azhark94 3 года назад +1

    The legend we needed.

  • @ambroiseondoa7357
    @ambroiseondoa7357 4 года назад +1

    Great video, very explicit

  • @angieholland9648
    @angieholland9648 2 года назад

    You are TOO GOOD

  • @iansmith9103
    @iansmith9103 2 года назад

    That intro song today...YESSSS. Got me hype for accrued expenses even though I'm brutal at accounting haha

  • @mary-annewillis2057
    @mary-annewillis2057 3 года назад

    Amazing brilliant and talented. Makes it so easy to understand

  • @MrBundykins
    @MrBundykins 2 года назад

    Very helpful 😇

  • @Jayorsomething
    @Jayorsomething 4 года назад

    Amazing content brother!

  • @DT-og7hs
    @DT-og7hs 2 года назад

    Amazing you explained clearly and supper pronounced. Thank you so much dear😍

  • @laurenbutler4831
    @laurenbutler4831 3 года назад

    i love this guy

  • @nancyhamacher3047
    @nancyhamacher3047 3 года назад

    Very nice how you explained everything 👍

  • @ngochatubao6839
    @ngochatubao6839 2 года назад

    You've saved my student life! @..@

  • @ShabirAhmad-lw4yq
    @ShabirAhmad-lw4yq 3 года назад

    This is what Explanation Weldone

  • @palavirajgude5717
    @palavirajgude5717 3 года назад

    Dude, you awesome!

  • @umwhat1574
    @umwhat1574 3 года назад

    Great video 👍🏼

  • @tanakakaterere6985
    @tanakakaterere6985 4 года назад

    i needed this thanx man

  • @pseudomaxofficial
    @pseudomaxofficial 3 года назад

    Too bad i discovered your channel a bit late. But still love it.