https://www.youtube .com/watch?v=C8UuX75ZarU
💥Cash vs Accrual Accounting Cheat Sheet → https://accountingstuff.com/shop Accounting Basics Lesson 8. In this episode of Accounting Basics for Beginners we take on the question – which is better? The Accrual Basis of Accounting or the Cash Basis? This episode of Accounting Stuff – Accounting Basics Lesson 8 – is a continuation of our series on Basic Accounting for Beginners. In this tutorial, you will learn: ▪ The definition of the Accruals Basis of Accounting. ▪ Accrual vs Cash Basis – Why is Accrual Accounting better than Cash Accounting? ▪ This will be demonstrated using examples comparing both the accrual method and cash method. ▪ The importance of the Matching Principle. ▪ The Pros and Cons of Accrual Basis of Accounting. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 – Intro 01:30 – The Problem with the Cash Basis of Accounting 01:49 – What is the Accrual Basis of Accounting? 02:07 – How does the Accrual Basis of Accounting Work 03:59 – What is the Matching Principle? 04:45 – Advantages of Accrual Accounting 05:14 – Disadvantages of Accrual Accounting 06:07 – Which Method of Accounting Should a Start-up Use? 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7 🚶FOLLOW ME ON ▪ Insta → https://www.instagram.com/accountingstuff ▪ Twitter → https://twitter.com/AccountantStuff 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb ________________________ 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 #accountingbasics #accountingstuff
Who would be interested in some videos covering practice questions on each topic?
Of course 😍
Sure it would be great also i need video to impairement loss with examples
Yes please definitely. Your videos are amazing and easy understanding 🙏🏻🙏🏻
me 😁
Me!!!
Great video! Love it. My question is that since the accrual earning is recorded as it incurred, theoretically a business could like to assign a contract say any amount of income, and falsely report as their earning of that period of time; and then cancel it after the report. So essentially, a non-existing income has been reported. Is there any way able to identify this?
Still a delightful video in 2022..
Thanks for the understanding bro.
yes i would like for you to show more in detail
Hi! I was wondering if you could help me with an accounting question. The business I am working for take about 6 months to get a client to sign a contract, in the meantime we have developers working on their ideal platform to get them to sign up, but we don’t get paid until they love it. Once they love it, we have a sandbox working platform that we already spent all the time working on and we get paid (lets say $100,000) up front for the subscription for the following year. I am working with quickbooks but how do you suggest I record all the time worked prior to the payment and signed contract? Thank you
is cash and accrual the same as cost and matching principle?
Concise explanation. Thanks
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great videos, thanks a bunch
Make more videos on accrual accounting please and with examples on how to work it out
Thank you
this video slapped bigman
You’re absolutely the best! Thank you man!💪💪💪
I hold a BSc in Microbiology, but having worked in the banking sector, I developed an affinity for Finance and decided to pursue a masters degree in Finance, it was really tough and challenging for me until I came across your channel. Thank you so much ( I wish you could create an A to Z terms in Finance and Accounting)