Accruals and Prepayments | ACCA F3 | CA | CIA | CiMA | CPA | CMA | O Levels | Commerce Specialist |

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This video from Commerce Specialist is about the concept of Accruals and Prepayments. Detailed explanation is given on What are Accruals and Prepayments, Why do we have Accruals and Prepayments, How to record Accruals and Prepayments, T accounts for recording Accruals and Prepayments, Unearned Revenues, Unearned Incomes, Income Received in advance, The charge to Profit/Loss, Entries for payment of expenses and entry for receipts of revenues.
This tutorial/lecture video is very relevant and useful for students of B. Com, O Levels, A Levels, BBA, MBA, CA, ACCA, CMA, CIMA, CIA and CPA.
About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, is a Fellow of member of HEA UK, holds Certification in International Auditing from ACCA-UK, member of IFA UK and IPA Australia, also holds a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.
#accrualandprepayments #accruals #prepayments

[@saraahmadi4882]

Sir, thank you very much for making the ACCA topics more engaging and easier to understand. I'm looking forward to watching all of your videos.

[@CommerceSpecialist]

Thx dear

[@ghezalgulistani8897]

Thank you very much sir really clear explanation love it

[@pnr9674]

Very well explained sir, , it would be help great if these cases also explained in similar way you have done in basic accounting video.. by posting journal entries and then preparing ledgers and trail balance

[@Nana_Ansah000]

Good job done sir 👏🏻👏🏻👏🏻 God bless you

[@CommerceSpecialist]

Thx a lot dear👍

[@izabelajuchniewicz6344]

Sir, you are the best !!!

[@CommerceSpecialist]

Thx Izabela

[@suleimanabdul6618]

I seem to confuse about what is going p or l 's account sir

[@rafique877]

Sir well explained 🌹

[@afsarahmed9861]

As always well explained 👍

[@CommerceSpecialist]

Thanks dear

[@muhammadzaryab-e5i]

good sir its too beneficent for us thanks

[@CommerceSpecialist]

Ur welcome dear👍🙏😊

[@Malik-ix2kx]

Helpful video. Thanks

[@CommerceSpecialist]

Thx Malik

[@afkgamer7204]

Headache with this Sir for Rent A/C expences: Prepaid balance is DR, so where is it CR, which account??

[@CommerceSpecialist]

When it was paid it was Prepaid Rent debit and Cash credit. Opening and closing balances dont have corresponding debit or credit

[@Lalaundercover389]

sir?thank you so much

[@CommerceSpecialist]

😊🙏👍

[@LanceMagloire]

Can we not open an individual t account for each of this: Dr Rent $12000 / Cr Cash $8000 / Cr Accrual $4000 . After the expense is paid, Dr Accrual $4000 / Cr Cash $4000 .

[@akashshetty9530]

sir, please teach loan notes