Accrual Accounting: How it Works & Why it's #1! 

💥Cash vs Accrual Accounting Cheat Sheet → accountingstuff.com/shop
🖊Cash vs Accrual Accounting Practice Questions → accountingstuff.com/practice-...
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 → 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 → geni.us/5mKR7m
🔝 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...
🚶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 #accountingbasics #accountingstuff