Deferred Revenue Explained | Adjusting Entries

Подписаться 761 тыс.

Просмотров 215 тыс.

50% 1

💥Adjusting Entries Cheat Sheet → accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → accountingstuff.com/practice-...
Deferred Revenue can be a real head-scratcher. As if Adjusting Entries weren't already confusing enough... Deferred Revenue, Unearned Revenue and Prepaid Revenue all mean the same thing!
In this video, you'll find out what these terms mean and I'll show how to account for them correctly, 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

Опубликовано:

22 июн 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 329

@AccountingStuff 5 лет назад

We hit 10,000 subscribers today 🤘Thanks for all of the support!!!

@Credinellatuastoria 5 лет назад

You.Are.Amazing. Keep it up man!

@AccountingStuff 4 года назад

@@Bce2099 Haha, thanks Paul. I will consider it!

@AccountingStuff 4 года назад

@@DanzoB79 Cheers mate!

@iwannaknow_2423 4 года назад

cool, so cr unearned revenue, what about taxes payable?

@AccountingStuff 4 года назад

@@iwannaknow_2423 I left taxes out of this example to keep things simple.

@gravm8730 3 года назад

I’m super happy you exist on RU-vid if I’m not studying all I do is watch your videos. You explain things so clearly. 🤗

@AccountingStuff 3 года назад

Thanks Graciela, it's great to hear that you're enjoying these videos

@cherylbreckenridge877 4 года назад

Thank you for explaining a concept I was completely stuck on! Watching your 4-part accrual series, as well as your earlier videos ie/ Balance Sheet etc, to help better understand what a textbook is doing a less than stellar job to explain! I have accomplished more in 24 hours watching your videos than the 3 months I've been at this Financial Accounting course - awesome job explaining everything - thank you! Your use of graphics and examples really brings it all home as well as concepts such as determining which statement is affected (ie/ releasing it from the Balance Sheet and assigning to the Income Statement), and why, really gives a stronger understanding than just memorizing. Oh, and DEALER is brilliant. Thank you!!!

@AccountingStuff 3 года назад

No problem Cheryl, it's sounds like you're feeling more confident with accounting which is fantastic news!

@sanfran224 3 года назад

I like how clear you speak. it looks like you speak to non native english speakers

@ninaoda4779 5 лет назад

Congratulations! 🎊 you deserve even more! Keep it up 💪🏼 cause you are making such a big difference to all new accounting learners like myself! Thanks James!

@AccountingStuff 5 лет назад

Thanks Nina!

@shankare2286 4 года назад

This was my interview question and I was sooo confused at the time. This video explains it clear

@AccountingStuff 4 года назад

Glad it's making sense. Hope the interview went well!

@TheAviari 4 года назад

currently on this playlist and i highly appreciate them. so glad google gave me your link at the top of my search! Thanks

@AccountingStuff 4 года назад

Great to hear that you are enjoying the videos. All the best!

@maryahmedina8388 Год назад

Youuuuuuuu are amazing!!!! Better than any accounting professor I ever had!!

@ankiodzuongdzuong8616 Месяц назад

I wished that your videos existed in the years 1979 and on when I was working for Credit Suisse in Switzerland. Appreciate very much. As a retiree, I'm learning accounting now for fun.

@AccountingStuff Месяц назад

Good on you!

@superjoppie2001 3 года назад

My man, you are saving me with these videos. I was on the brink of break-down, found your videos. Had to get used to them at first, but now I understand your way of teaching and it is perfect. No more unclarities. You deserve every like of those 1200 likes! Much love

@AccountingStuff 3 года назад

I'm glad you're feeling more confident with your studies. All the best!

@lucasamorim5506 3 года назад

Whenever i have questions whilst studying Accounting i always refer to your channel. Matters are so thoroughly explained here! thank you so much!

@AccountingStuff 3 года назад

Cheers Lucas! Hope your studies are going well :)

@trochetiaboutic5278 4 года назад

I love T a/cs so easy the explanation with the "T", thank you James, you make it easy :)

@AccountingStuff 4 года назад

Great to hear it's making sense

@abbosabdulazizov6793 3 года назад

u cant even imagine how much did u help me in my midterm. thank you very much, adore your content

@AccountingStuff 3 года назад

No problem! I hope it went well :)

@user-tz7df6fe3b 5 месяцев назад

I was confused with terms of ‘deferred’ & ‘ accrued’ , but you clarify’ deferred’ very well in this short video so that I‘ve got it now and I am looking forward to’ accrued’ one! Thanks James!😊

@AccountingStuff 5 месяцев назад

Great to hear it's making sense :)

@financialcounting5603 5 лет назад

Accrual accounting produces the best financial statements for investors! It really helps investors predict future earnings much better than cash accounting. Thank you for showing us how to account for unearned revenue!

@AccountingStuff 5 лет назад

No problem!

@jwan1446 3 года назад

I never comment on videos, however, I have to in this case. Absolutely incredible! The quality of your work and knowledge is amazing! I can't thank you enough!!

@AccountingStuff 3 года назад

Cheers Jwan, I'm glad you enjoyed it!

@ruchitakushare3808 Год назад

You make learning so easy, wish I had a teacher like you in my uni days❤

@linagebara8905 2 года назад

Very clear explanation and the drawing of the timeline same page with T accounts makes it even clearer.

@AccountingStuff 2 года назад

Thanks, hope it made some sense!

@madinahashrati6833 3 года назад

You explain everything crystal clear. Thank you!

@AccountingStuff 3 года назад

Cheers, hope it's making sense :)

@jonnathanjon1 3 года назад

I should say you had a best teacher in teaching you the basics in a very practical way. I wish I had one.

@AccountingStuff 3 года назад

Cheers buddy!

@jinlee1874 3 года назад

Amazing explanations! This is more useful than reading the textbook!

@AccountingStuff 3 года назад

Cheers Jay!

@lisalewis2302 4 года назад

Well done, your tutorials are easy to understand, thank you

@AccountingStuff 4 года назад

Thanks Lisa!

@ramu992 4 года назад

If it weren't for u, i would've never understood basics of accounting.

@AccountingStuff 4 года назад

That's great to hear, glad it's making sense

@garrethunter5593 3 года назад

you are SUCH a good teacher. Thank you.

@AccountingStuff 3 года назад

Cheers, that's kind of you to say :)

@baharheravy5134 5 лет назад

James, thank you for your great videos. You are making accounting more interesting! Please continue making more videos :)

@AccountingStuff 5 лет назад

No problem, I have no plans to stop anytime soon

@esosa121 4 года назад

@@AccountingStuff please don't stop, we all need you, especially management account students like me. : )

@AccountingStuff 4 года назад

@@esosa121 I don't plan on stopping anytime soon

@jamiemcintosh8143 2 года назад

Of its kind - a tutorial/explanatory based channel, this one is 10/10. Thanks James

@AccountingStuff 2 года назад

Thanks for your kind words!

@marieclaudettegarella2038 4 года назад

Thanks, Merci, Gracias & Grazie; I’m so grateful that I wish I could thank you in more than three languages

@AccountingStuff 4 года назад

Obrigado!

@alexspear2016 2 года назад

im currently doing a level 3 accounting course and i find your explanations really helpful thankyou so much

@AccountingStuff 2 года назад

Cheers Alex, all the best with your course!

@kopanomokoma6504 3 года назад

Thank you man, you are great Accounting teacher. Believe believe me, no matter how little it may seem. You are changing the world.

@AccountingStuff 3 года назад

Cheers for your kind words :)

@innercitadel3279 5 лет назад

Keep it up. You are doing the best job on RU-vid. 👍👍👍

@AccountingStuff 5 лет назад

Thanks Gamal!!

@sdk895 2 года назад

I have become fan of this channel...he makes thing look so easy...thanks much😊

@md.modasserhossain8040 3 года назад

Interestingly easier explanation. Bravo James.

@AccountingStuff 3 года назад

Thanks!

@nathanaelprovis7621 4 года назад

Beautiful Vancouver, seaplanes, and an Air New Zealand B777-200, I truly don't think financial education videos can get any better than this

@AccountingStuff 4 года назад

Thanks Nathanael!

@HaNguyen-wu9vf 2 года назад

Thank you so much, easy to understand!

@freshtaahmadi5952 3 года назад

beautifully explained! thank you and God bless you!

@AccountingStuff 3 года назад

Cheers Freshta! Hope it's making sense :)

@CKBREEZY7 2 года назад

You should be given a lot of support. Your channel is one of the best on RU-vid.

@AccountingStuff 2 года назад

Thanks for your kind words!

@ralch1 4 года назад

Very well explained, thanks a lot!!!

@AccountingStuff 4 года назад

Cheers Rodrigo!

@ksumar Год назад

Nicely explained sir. I salute you!

@AccountingStuff Год назад

Cheers Karim!

@sarwarsayeed9058 4 года назад

nicely explained, thoroughly enjoyed the video .

@AccountingStuff 4 года назад

Cheers Sarwar!

@rahafalrawahi5076 4 года назад

Thank you so much for all your hard work 💜💜 ...your explanation makes everything look easy

@AccountingStuff 4 года назад

Cheers Rahaf, you're most welcome!

@sandraforeman6796 3 года назад

You are amazing keep up the good work, I can confidently step into my new role as Management Accountant with some more confidence as I was out of a job for sometime.

@AccountingStuff 3 года назад

Congrats on landing your new job! That's awesome news :)

@johnq3543 3 года назад

Thank you so much.....looking forward to many more video's. Glad I found you !

@AccountingStuff 3 года назад

Cheers John! Plenty more coming soon :)

@adesuhanda4562 5 лет назад

thank you for gaining knowledge. Success always for your. Brother.👏

@AccountingStuff 5 лет назад

Cheers Ade, all the best!

@FRANKWHITE1996 4 года назад

Well explained. Thanks.

@monkii7185 4 года назад

Great explanation! Thank you!

@AccountingStuff 4 года назад

Cheers, you're welcome :)

@mabrother6902 3 года назад

We want more videos please YOU ARE THE BEST!!!

@AccountingStuff 3 года назад

Thanks, I'm working on more as we speak!

@sophiachen811 3 года назад

You're genius. So clearly explained.

@AccountingStuff 3 года назад

Thanks Sophia!

@petraschubnel8334 2 года назад

so touching for an excellent video

@strawberrymoon1323 2 года назад

Thank you so much! You're the best James!

@AccountingStuff 2 года назад

No problem Jonathan :)

@charanguru2367 4 года назад

Believe me you are going to rule in this category of videos.. More power to you bro.. All the Best. Subscribed to your channel in just few minutes of into it.. Awaiting many more damn eagerly...

@AccountingStuff 4 года назад

Cheers buddy, thanks for the sub!

@playtostudy3090 2 года назад

I can make sure that you must have a good grasp of accounting so that you can interpret these knowledge very easy and understandable. Obvious genius. Thanks for your video

@AccountingStuff 2 года назад

Thanks for your kind words :)

@JayGee1983 3 года назад

James you're the boss keep it up, You have improved my knowledge on matters of accounting. I don't if I will be too much by asking you to post a video on Accounts Receivables and Accounts Payables. Have a great day

@AccountingStuff 3 года назад

Hey John, thanks for your suggestions! Have a great day too :)

@RT-hz5uv 3 года назад

The way you explain accounting situations is so easy to follow. Ever think of participating in creating your own CPA review course?

@AccountingStuff 3 года назад

Thanks for your suggestion! I did a different qualification so I'm afraid I don't know too much about the CPA

@Salvation1984 3 года назад

Perfect explanation!!

@AccountingStuff 3 года назад

Thanks Merlissa!

@blair-mariepullingstrings2642 4 года назад

These videos are so amazing! Do you think you could add another one to this set that covers depreciation? I get that it follows the same basic principle but just different enough to be confusing.

@AccountingStuff 4 года назад

Thanks Blair-Marie! Yes I would like to do a series on depreciation soon

@tejacavalera 2 месяца назад

Thank you from Bali, Indonesia 🇮🇩. Superb explanation

@AccountingStuff 2 месяца назад

No problem, happy to help :)

@leenusbaum9596 3 года назад

Excellent video. Thank you.

@AccountingStuff 3 года назад

Cheers Lee, you're most welcome :)

@manuthtechniques3032 4 года назад

You are so great sir, as your videos are helping me a lot. thanks

@AccountingStuff 4 года назад

Thanks Manuth!

@MaksatTashbaltaev 2 месяца назад

2 semests of studying in university and no understanding and one playlist in youtube everything is done. great work

@AccountingStuff 2 месяца назад

Thanks, great to hear you're finding these helpful :)

@tiaanlorenzen7778 4 года назад

Brilliant and make easy to understand

@AccountingStuff 4 года назад

Nice one, glad it's making sense :)

@treemane0 5 лет назад

Damn it I'm late, congrats on 10k subs btw👏👏👏

@AccountingStuff 5 лет назад

Haha, no worries Tremain. Thanks!

@geniusboss3529 5 лет назад

I followed you on Instagram and subbed to your channel cuz your worth it

@AccountingStuff 5 лет назад

Legend!

@MAGNANIMOUSofficial 5 лет назад

Thanks for the great vids! I could use help with closing entries, so there’s a video idea for you

@AccountingStuff 5 лет назад

Hey! I've had a few requests for closing entries. They are definitely on my list

@BookyWickey Год назад

i love ur vids bro, keep it up

@OHAHAHO007 3 года назад

Thanks, very helpful!

@AccountingStuff 3 года назад

You're welcome!

@ronoedwin3594 10 месяцев назад

Super helpful

@ahmedjafarli4216 4 года назад

helped me a lot.🙏🏽

@AccountingStuff 4 года назад

That's awesome!

@poonamprajapati5168 4 года назад

Hey ! Tommorow is my exams n u jus saved me:) Thanks

@AccountingStuff 4 года назад

How did they go?

@goleadorvenezolano 4 года назад

Excellent explanation

@AccountingStuff 4 года назад

Thanks mate

@azzamhaziq373 4 года назад

you really a true brother

@AccountingStuff 4 года назад

Thanks Azzam!

@HOMEFOODMANIACS 5 лет назад

Nice info earned here

@AccountingStuff 5 лет назад

Cheers Munesh!

@amazeyosa Год назад

Hi! You explained well in every detail. Thank you so much. Do you have a tutorial how to put post reference correctly? How does it work? 🤔

@subhrajitchakraborty8170 Год назад

Thank you ❤️

@mohamedhussein132 Год назад

You're a miracle!

@kamalaswami2655 2 года назад

Awesome 👍👍

@nathaniela.diawuo5597 5 лет назад

Let's dive right into it 😊😊😊

@untdabdill9620 5 лет назад

Congratulations mate for your 10k subscribe

@AccountingStuff 5 лет назад

Cheers Hamumi!!

@everydayfun9531 2 года назад

omg i finally understand the difference betwwen cash accounting and accural accounting!

@kylenela7663 4 года назад

Hiii! Thank you for this video, really helped me a lot. Could you please explain in your next video about the closing entries with examples of not knowing the amount of drawings please? 🙏

@AccountingStuff 4 года назад

No worries Kyle, cheers for your suggestion!

@hibadziri Год назад

hiii u re doing a greattt jobb and u re helpiong me understand everything soooo quickly and easily. can you make a video about VAT ? and how to record it and when THANKS A LOT

@hugoburr 2 года назад

I love yaaa! thanks so much!

@md.tanjilurrahman5949 4 года назад

awesome video Keep this on!!!

@AccountingStuff 4 года назад

Thanks mate, will do

@md.tanjilurrahman5949 4 года назад

@@AccountingStuff Could you please make videos on stock holder's equity and it's components like contributed capital, retained earning?

@AccountingStuff 4 года назад

@@md.tanjilurrahman5949 here you go → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fr5oHEYrT2A.html

@eirene1998 4 года назад

Make sense! Thank you

@AccountingStuff 4 года назад

You're welcome :)

@catherineuzoma5927 3 года назад

You are amazing , thank you so much !!! please can you do a video on closing entries? Thanks again😊

@AccountingStuff 3 года назад

Cheers Catherine! Thanks for the suggestion :)

@user-nw4hl5vj7q 3 года назад

thank you soo much !

@AccountingStuff 3 года назад

You're most welcome :)

@rsadsultanov3071 3 года назад

Thank you man

@AccountingStuff 3 года назад

You're welcome :)

@beyazbulut961 3 года назад

I love youuuuu and I love youuuu and love your lessons of course

@michaelsmith6058 2 года назад

Super helpful content! You are a gifted teacher, and I'm greatly thankful. One question, if there is a "no refund" policy, I.e. no possible way to "lose" the cash, is it still accounted the exact same way?

@jaidev777 8 месяцев назад

I think it would be. Despite legal questions on whether payments are refundable, you are still expected to perform the service you were paid for.

@RandulaYasas99 4 года назад

You're the best 👌🏻

@AccountingStuff 4 года назад

Cheers Ranu!

@HimalayaAhuja 2 часа назад

Thanks Dost🎉

@junaidalamkhan7327 3 года назад

Thank you Jame

@AccountingStuff 3 года назад

You've welcome :)

@rennathathomas7055 3 года назад

Thanks my guy🖒✌

@AccountingStuff 3 года назад

You're welcome :)

@monicayang1918 2 года назад

incredible

@niliseidenman2629 5 лет назад

Thanks for the videos! So helpful! Can you please make a video about depreciation and accrued revenue?

@AccountingStuff 5 лет назад

No problem Nili! My next video will be on Accrued Revenue and I plan to create another on Depreciation sometime soon!

@niliseidenman2629 5 лет назад

@@AccountingStuff Currently getting my sister and I through Accounting101 at University! Thank you so much!

@AccountingStuff 5 лет назад

@@niliseidenman2629 Good luck!

@shateela.chowdhury3805 Год назад

Thanks a lot

@princevarghese9930 Год назад

very creative

@AccountingStuff Год назад

Thanks mate!

@MrCristiancitos 3 года назад

Thanks men

@AccountingStuff 3 года назад

You're welcome :)

@bkalkan7493 4 года назад

Thank you for your wonderful videos ! Could you please explain deferred tax topic in your videos , it would be great because the topic is difficult to summarize.

@AccountingStuff 4 года назад

Hey there, thanks for your suggestion!

@akashrout2886 3 года назад

Perfectly explained! This is what I was looking for. *Subscribed* :) But I have one question, is this example in compliance with ASC606 accounting standard? If not, then can you give the accounting entries of 2nd example or any other example considering ASC606 where the Revenue can be booked before invoicing.

@AccountingStuff 3 года назад

Cheers Akash! This is a simple example to illustrate the concept. It's always important to check the standard in your area to ensure consistency. Thanks for the sub :)