Four types of adjusting entries under Accrual Accounting | Accrual Basis Part 2

Описание: We will explore deeper into the accrual basis of accounting with this second part of the mini-series.

In particular, we will discuss the four different types of adjusting entries you need to master to be an accounting hero!

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✅ Link to Part 1:
Accrual Accounting Overview | How Accrual Accounting works? | Part 1
   • Accrual Accounting Overview |  How Accrual...  

Timestamps:
00:00 Introduction and overview
00:37 What are the four types of adjusting entries?
01:20 Accrued revenue
02:16 Deferred revenue
04:00 Accrued expense
04:58 Prepaid expense
06:02 The best way to analyze adjusting entries!
06:23 SItuational analysis
07:06 Step 1: Determine types of adjustments
07:23 Step 2: Determine initial accounting
07:48 Step 3: Determine adjusting entries
09:21 Outro

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