I want to say a big THANK YOU to all of you who have supported the channel by watching & subscribing! We've just hit 500 subs in less than 3 months which is fantastic news. Next stop... 1000 🙂 Cheers for all the lovely comments and suggestions. They always motivate me to improve and go the extra mile on each video. As always, let me know if there are any topics you would like covered and I'll see getting them done!
A 2 minute video that probably took 2 hours to make (aesthetics and production on point) and saved me 2 hours of time and surfing on different sites. Thank you so much! 🙌🙏
Things you will learn in this video: -Revenue recognition concept -accrued revenue -deferred revenue -what is meant to be Creative -what is meant to be a cool guy -what is meant to be punctual
I am so thankful that I started my first year after you made these awesome videos for accountings. I literally read the unit name from my given textbook online and just search those words on youtube and every single time you have a video for it. Thank you so much for making these contents for us. I'm sure there are many more students saved by your videos.
thank you so much, sir. I'm taking online intro to acct classes... I've learned more from you than the "class." online class is pretty much read and complete online assignments...
Another great video! None of my accounting books explained this so well...and using the little car and the cake are awesome for a visual learner like myself. Thanks James!
i just subscribed to the channel and would really like to thank you for make these video they really help alot to beginners to accounting like me , keep the good work on .
I really dont how how to thank you.. i was trying to know what is the realization revenue for like an hour and i have an accounting exam after 2 days and this amazing simple video was enough to make know what a realization revenue is....your awesome!!!!
Thank you so much, ive been staring at my textbook totally lost and after watching this video it now makes perfect sense to me! Im definitely drawing that scenario grid in my notes, thanks again!
Hey Elena, great to hear that this topic is making sense for you! Nice one, it definitely helps to visualise situations on a grid. Good luck with your studies!!
Bravo! The best visual explanation! Accounting has one of the murkiest terminologies among all professions, I find it more demanding to understand than information technology.
You are always so incredible in delivering information creatively. Because of you, I am inspired to be a teacher to future accountants. :) Thank you so much for opening this channel.
Revenue is also derived from the normal course of business, there's also different recongition criteria for private and public companies as well as varying situations and instances outlined in your respective accounting/auditing handbooks.
James, just went back and watched this again. A year later and still pick up new things about it. Great. I am struggling when to post to the revenue account and when to post to receivables? little confused.
@@AccountingStuff Hey James, thanks for getting back to me. I think I understand this part now. Revenue account would be credited when the money has already come into the business(eg credit customers)? The receivables account would be credited when the amount is in cash or been paid directly? I am still stuck on the definition of 'Advocacy' (the advocacy threat) I'm going back and forth of this one. Any help or links to websites would be a god-sent. Still studying with the Kaplan books.
@@NoNameLondon When Accrual Accounting, Revenue is only Credited once it's been earned. So receiving cash has no impact on Revenue when Accrual Accounting. Have you seen my videos on Adjusting Entries? I go into it in a lot more detail there.
@@AccountingStuff Accounting Stuff Hey James, thanks for that. I will definitely go and check that out. I haven't yet done accruals accounting in my studies but I have covered a little by myself. I will give it a bash! Thanks man, for taking the time in answering my questions, hope all is well.
