Thank you so much! I have a test in Financial Accounting tomorrow and deferrals vs accruals was something I was still struggling with! This helped a lot!
It was really helpful. Just saw all the videos on your channel. But I wonder why you stopped uploading. Would be really great if you can upload more videos with other Accounting/Finance topics.
Accured revneue isnt the same as an account receivable Account Receivable: Money owed to a company by its customers for goods or services delivered but not yet paid for. It is recorded when an invoice is issued. Accrued Revenue: Revenue earned by a company for goods or services provided but not yet billed to the customer. It is recorded when the service is performed or goods are delivered, even if the invoice hasn't been issued yet. Both are types of receivables but are recognized at different stages of the billing process.
Journal entries: please correct if journal entries below wrong......😢 (DEALER) Debit prepaid deffered expenses Credit Cash Debit cash Credit deferred revenue Debit Accrued expense Credit Accounts Payable Debit Account Receivable Credit Unearned revenue Accrued Revenue is basically unrecorded Accounts Receivables. Pre-paid expenses are paid for future economic benefits. Like insurance or rent. Prepaid Expenses and Accrued Revenue are both classified as Asset accounts on the Balance Sheet. They are used for Adjusting Entries. Prepaid Expenses are payments made in advance for goods or services to be received in the future. Accrued Revenue represents revenue that's been earned, but not invoiced yet.
When he pulled up that dollar before action sht, I was like this guy is a genius
His metaphor in teaching is worth to learn!
Real
The fact I was able to learn this on a work break. This guys is a crazy good teacher
Four lines that explain it better than the entire chapter of my book + a lecture in a class.
My professor tried to explain this in 3 days, you wereable to explain it in 3 mins. Thank you!
Dude, this very simple method (action before dollars and visa-versa) helps A TON! Between that, and DC DEALER, it's a piece of cake!
Glad it worked for you, I'm happy to help!
Ive been so frustrated over something I learned 2 years ago and all it took for me to cool down was this 3 minute video. Thank you.
watched 5, 10min+ videos (without getting it), and you were able to teach it that quick....
Dollars before actions and Action before dollars! Brilliant!
Thank you so much I was looking for a concept to memorize deferred vs accrued. This is perfect!
Thank you so much! I have a test in Financial Accounting tomorrow and deferrals vs accruals was something I was still struggling with! This helped a lot!
A perfect example to learn the concept.
Best explanation out there. The dollars before action and action before dollars trick helps understand them intuitively. Thank you!!
Your explainations are awsome, but it would be much more appreciated if you provide some specific examples and analysis
Comment section is right, you deserve a medal!!! Thank you so much for this simple method! You teach so much better than my professor T^T.
Genius...I was litteraly struggling to understand and I got it in 3mn. Thank you so much sir
simplest and best way in explaining concepts. thank you, sir! more power to your channel ❤
Mannnn....this is out of universe you blown tge head of thousands of teachers....wow what a great teaching
Thank you so much I have got this wrong so many times. Your explanation was simple and concise.
this was such a hard concept for me to understand but i appreciate your video in assisting with my education
Short, Clear, Easy…THANK YOU!
This was amazing! I am making you my study material for my Acct 101 class this semester. I was stuck on this concept for an hr. Thank you!!
Best video on accurals and deferrals ever ! Thank you
You are a blessing for someone 50 going to college 🙏 keep posting
Dollar & Action ! Simple and easy to understand concept .I wish you were my teacher in School
This video is so good. I kept forgetting which means what but the A and D thing is so smart thank you so much
How just simplistically you have explained the toughest Concept for me.👍👍
You just explained this better than a Upen Professor! Thank you
You just made that way easy for me, I was having a hard time understanding it. Thanks!
Wow! So easily understand! Much help for me!!!
Thank you so much sir my professor couldn't explain this concept in my hour and 15 minute lecture.
Thank you so much! I have been struggling with this for so long!
Just learning the terms, you made extremely easy and clear! Thank you
Great video and the best way that I have ever been shown how to view accruals and deferrals. Thank you!
wow. I am so glad I found this! I understand the difference now. Thank you so much!!
love the explanation where you said Dollars before action and Action before dollars. That makes it easier to understand . Many thanks.
You are a good teacher!!!!!
Love the simplicity. Ty!
It was really helpful. Just saw all the videos on your channel. But I wonder why you stopped uploading. Would be really great if you can upload more videos with other Accounting/Finance topics.
Very easy to understand.
Thank you good sir!
Dude, you're the best. Thank you so much
Very good explanation, thank you.
Thank you so much. Very well explained.
Thank you so much for simple and informative explanation. ❤️
Wow thanks you just boosted my understanding of this concept
Perfect & Simple explanation 👍🏼
Creative and very-well explain.
Said in very simple way it's awesome👍
absolutely fire video. terrific job my man
Great video, really nice trick to uderstand this concepts!!!!
You are a life saver !!!!
golden words!! Thanks a lot for the explanation
Nice Explanation! You made it easy for us.
Underrated!!
Holy shit , just finally learned this. Thank you man
Excellent! Best explanation 👌
easily understood ..... good job
Thank you so much for this!!❤
This really helped thanks so much
Great vídeo, best regards from Portugal🇵🇹
That's a looooot it's so helpful and understandable ☺️☺️☺️
Thanks! this made it so much easier! i’ll definitely using your channel!!!
So helpful man. Love❤
This was very helpful. Thank you so much.
Super helpful! You deserve way more subscribers
Great Explaining skills
Thank you it helps a lot
Fantastic method to teach conecpt
This helped a lot 😊
Great man, lovely
Thank u! Great video
made it easier thank u
Thank you so much
Perfect explanation...
Thanks so much for your help✨
thank you! it finally makes sense to me.
Tq for the tip, kind sir.
Mind blowing trick
Thank you sooooo much man
Thankyou for clearing
thank you so much!
You made my day......
Thanks!
Excellentttt i love it
THANK YOU SO MUCH
Awesome! Thank you.
well done
Thanks sir
it is amazing! very clever how you came up with these A and D examples..
Thank you !!
Nice mnemonic!
ok I needed this
Awesome
superb
Accured revneue isnt the same as an account receivable
Account Receivable: Money owed to a company by its customers for goods or services delivered but not yet paid for. It is recorded when an invoice is issued.
Accrued Revenue: Revenue earned by a company for goods or services provided but not yet billed to the customer. It is recorded when the service is performed or goods are delivered, even if the invoice hasn't been issued yet.
Both are types of receivables but are recognized at different stages of the billing process.
just perfect
Journal entries: please correct if journal entries below wrong......😢 (DEALER)
Debit prepaid deffered expenses
Credit Cash
Debit cash
Credit deferred revenue
Debit Accrued expense
Credit Accounts Payable
Debit Account Receivable
Credit Unearned revenue
Accrued Revenue is basically unrecorded Accounts Receivables. Pre-paid expenses are paid for future economic benefits. Like insurance or rent.
Prepaid Expenses and Accrued Revenue are both classified as Asset accounts on the Balance Sheet. They are used for Adjusting Entries. Prepaid Expenses are payments made in advance for goods or services to be received in the future. Accrued Revenue represents revenue that's been earned, but not invoiced yet.
real top g
Great
What about entry about each of them
nice