Accrued Expenses Broken Down | Adjusting Entries
HTML-код
- 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...
🔝 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...
FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🚶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 #adjustingentries #accountingstuff
Accounting teachers need to learn from this smart young man !!!
Why they dont teach like this?!!!!
Amazing how clear you explain everything, the video editing is also the best. Such a talent!
Thanks for your kind words!
I agree.
yes i agree great job
I Found A Gem Right Here.
This channel is an Asset.❤
Your stuff is really high end. Carry on man your work will pay off
Cheers mate!
@@AccountingStuff tomorrow is my job interview in central bank. Though I have no accounting or financial education background. Any tip or trick?
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!!
@@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.
@@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?
8 years of studying accounting and just now that I get it 😅 thank you so much for the helpful video!!
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!
Thanks Rido!
My most preferred you tube teacher for accounting !
Wooo, thanks buddy!
This man is literally carrying my grades, thank you!
No worries, hope it's all going well!
Same as mine. I got the solving thanks to this man. Genius.
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 🙏
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
No worries, hope you found it useful!
Currently preparing for my first exam for ACCT 2101, you're a lifesaver!!!
Good luck!!
Never seen anyone make learning as fun as you do! Thanks for the great video.
Cheers Christina, hope it helped!
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!
I went from nursing to accounting too! People look at me with so much confusion when I tell them hahaha
@@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.
same here
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!
Thanks Amit!
That definition is kinda what professors only remember
I wonder, are profs even accountants? How can they teaching accounting if they aren't' even an accountant themself
These videos perfectly sync with my lecture content! Thanks so much for making these videos to such a high standard!
Best of luck with your studies!
I have been grinding these videos for the past week. You are so much appreciated my man. Thank you!!!
No worries Timothy!
Can you do a video about contra- accounts
probably best accounting videos on YT. and as an accountant I've seen a lot of them. loving it.
Thanks!!
Thank you! This is the best accrual video ever! Not only it is clear but it also goes beyond the basics :)
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!
Great to hear it's making sense, thanks Lana!
If you ever are a tutor online I want to sign up 😉
Your videos are the easiest to follow that I've seen. Thank you for making these!!!!
Cheers! I'm happy to help :)
You’re actually helping me rekindle my love for accounting. Thanks mate!
That's great to hear!
Thank you so much for all your videos, by far the most informative and high quality out there.
Cheers Lewis :)
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.
Thanks for your support!! All the best :)
Lockdown marathon update: 27 videos watched 10 videos left to go. Phew
Are you in the penitentiary?
How did you get locked up?
You've explained everything very clearly as always. Thanks a lot!
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.
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!
Thanks, that would be much appreciated! I'm working on some new videos as we speak
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 !!!!!
Great to hear it's making sense :)
thank you for making me enjoy in learning more in accounting rather than being exhausted as I suck up these things in my head.
No worries, I'm happy to help!
This is amazing!!! your 10mins video explains the same thing that my CPA 500 pages book does!!
dude I give you credit, your channel makes a good attempt at making accounting cool, if that is ever possible
Haha, thanks!
You're such a light to this world
I really love and appreciate how you presented the topic! Salamat! From The Philippines.
i think its great you sell these cheat sheets, thank you they are great! Keep posting those videos Handsome!
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
Cheers Kacey!
Heck same
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
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.❤️
Great to hear it's making sense :)
I love this tutorial is very clear to me. understandable than any other tutorials..❤❤❤
I have my accounting midterm tomorrow and these videos are reallyyyyy helping me understand the material!
Good luck!!!
Your videos really help me understand my accounting textbook. Thanks.
Just purchased all of your cheat sheets! Wanted to support my virtual accounting professor lol, keep up the great work!
Cheers Juan! Thanks for your support :)
This was what I used to do at work but it is still good to review😊👍Thank you James
Sometimes it's worth revisiting the basics. Glad you enjoyed it
Another great video. Thank you!
🤯 You make it so easy to learn accounting!
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 .
Thanks, man. Your videos are a breath of fresh air. Thanks for making it interesting, man.
Cheers Tony :)
Thank you !! The whole series is SO helpful. Watching from Toronto :)
Cheers Julia! All the best with your studies :)
You are the best teacher
You're the accounting god❤️❤️
Another amazing video, super helpful, as always!
Cheers Michele!
Your videos were totally incredible! I've never commented for any videos before except yours haha
Thanks! I'm honoured to receive your first comment! All the best
Godddddd your amazing .. thanks a lot for making me get this ....... finalllllllyyyyy .... got this accrued thing into my head
Hey Thasleem! Thanks, glad to hear it's making sense for you!!
Videos are super high quality. Love it.
Cheers Matt!
This is really helpful! Thank you!
Thank youuuuuu for theses videos , you're way better than my uni teacher!!!!
No worries Victoria, you are most welcome
You are wonderful.Your explanation is very impressive.Thanks so much .
I appreciate ur time to make these great videos that i find extremely helpful.
No problem at all :)
thank you for explanation! your video editing is a another amazing stuff !
Cheers, glad you enjoyed it!
Thank you so much for this!
You are so great sir, as your videos are helping me a lot. thanks
YESSSSS I NEED THIS SO MUCH
This is soo helpful thank you soo much !
Thanks for this detail video..you go to the indepth concept so we are able to understand it clearly.
No problem, happy to help :)
Amazing work! You do an excellent job explaining these concepts!!
Thanks, glad you enjoyed it!
Thank you so much! Great staff...simple and easy
No problem, you're welcome :)
You are just amazing!
💛 thank you! I’ve finally stopped banging my head against the desk
No problem, hope it helps!
Holy fuckin shit this is the only accrual video on youtube that actually makes sense. Thank you!!!!
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
i like the method you use to teach ... keep it up ...
Cheers mate
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 :)
Pretty much! But be careful because 'Accrual' can also mean 'Accrued Revenue' so the definition is broader than Expenses
Wow ! You make accounting so easy. Thank you
You're most welcome :)
Excellent explanation. Many thanks for your easy way of let one understand.
Thank you thank you
Thanks!!!!!!!!!! High quality content.
No worries, all the best!
Thank you for this amazing explanation!
You're most welcome :)
Wow.... This Video is too Helpfull for my Accounting knowledge Thankyou so much....😊
No worries Vikesh :)
Thank u sm for your great works and efforts you put into this video helping me so much for further exams
Excellent explanation, I am an italian bookkeeper but the rules are the same and it has helped me so much !
Thank you! Yes, these basic principles are universal
Fantastic explanation as always!
Thanks!
Thanks, now i got better understanding about AE
Nice one! Adjusting Entries can be tricky at first, but they really aren't too bad once you get your head around them
very clear and fantastic explanation.
Thanks! All the best :)
This channel is very essential it build up my knowledge. Please sir I need economy from a to z
I don’t understand anything in school, this will definately help me get a good grade in account.. bless you !✨❤️
You've got this!! Best of luck :)
The legend we needed.
Thanks :)
Great video, very explicit
Cheers Ambroise
You are TOO GOOD
That intro song today...YESSSS. Got me hype for accrued expenses even though I'm brutal at accounting haha
Haha, glad you enjoyed it :)
Amazing brilliant and talented. Makes it so easy to understand
Thanks for your kind words!
Very helpful 😇
Amazing content brother!
Thanks mate!
Amazing you explained clearly and supper pronounced. Thank you so much dear😍
Glad you liked it :)
i love this guy
Very nice how you explained everything 👍
Thank you 🙂
You've saved my student life! @..@
This is what Explanation Weldone
Thanks Shabir!
Dude, you awesome!
Great video 👍🏼
Thanks!
i needed this thanx man
No problem Tanaka :)
Too bad i discovered your channel a bit late. But still love it.