Deferral Example: Unearned Revenue

[@aksesoryabylizaluz1232]

I am an Accountant and practicing it for so many years, the way you present your tutorial videos are so easy to understand. This is really very relevant for refresher course and for those who are studying Accounting. You are making it easy to comprehend the effects on the books of the company.

[@sunsetonmercury4705]

I just wanna say thank you, because I've been searching educational video for hours but only found explaination about defferal transaction that is a repaid rent etc.

[@ghiblik6797]

Awesome man. you are better than our professor in terms of teaching

[@carbeeezy2203]

Easy way to memorize Debit balances is the acronym ADE. Assets, Dividends, expenses. unless it is unearned revenue which is a liability. Hope that helps. In debit balances Debit increase and Credits decrease. Revenue is usually an asset unless it us unearned. Great teacher man keep up the great work!

[@harkiratkaurkhalsa2251]

I have masters in commerce and never got journal entries right until I watched your videos

[@justentertainment4275]

this guy is awesome. I wished that you were my accounts lecturer.

[@dhalkifl4171]

Thanks for spending time to teach accounting students worldwide

[@louisemartin4756]

I am a french accountant. Thank you very much for your work. It is very helpful. Merci beaucoup

[@rhidavillanueva7625]

I feel like continuing my course to Accountancy now that I have found someone who can explain accounting terms/principles better

[@noname89636]

You saved my accounting career. Thank you so much.

[@lijin121]

You are the best accounting tutor.

[@sharavananjaganathan9898]

Your teaching is good sir, I understood the topic and example.

[@mkhanduri]

Nice explanation Larry. This was really helpful. Thanks a lot for your efforts to make the learning a pleasure.

[@lisamccray6481]

I am really! going from struggling to starting to get it. I have been at this (learning thing) for quite a few weeks. Very grateful.

[@Hoka_moka]

Your lectures rock Larry

[@muhammedasifkhurshid1156]

Nice and clear explanation....Great. Thanks and regard.

[@lazzymeomeo7039]

who are here in 2020 ha ha. Thank you so much, i have to take online class due to Corona and i didnt understand much until your video.

[@mukhtarhajji7265]

2021

[@carmelajalipa7889]

Thankyou for the video. I learned a lot now. Im 1st year college in BSA i felt nervous because of that but i want to pursue and i want to be an accountant. I always motivate my self. Thankyou for that sir from philippines 🇵🇭

[@thepowellshow1415]

hows it going?

[@andreaockerman8859]

I have learned more from your videos than my actual teacher's lectures

[@roheenrai7844]

What an awesome explanation,which directly goes to long term memories,thank you so much

[@thabangbarayang8622]

Thank you Sir! You took your time explaining the whole thang

[@meowmeow-yn1mb]

Wow you have a talent in explaining well sir

[@augustayarteh7524]

Sharp explanation professor professional explanation. The name of the account we should record is unearn revenue. Unearn revenue is a revenue that have not yet received the money then remember about the cash or service revenue.

[@sasosaso5995]

perfect. I checked others video, but yours perfecttttt

[@desrepeerc206]

great video, I'll remember what a deferral is now

[@joyfull2346]

Your lecture is the best of best.

[@AyadJaff]

Thank you Sir, I understood the lecture very well. the way you are teaching is just simple but great.

[@yapingwang2208]

Very good explanations and it really helps!

[@bmanq2234]

Very clear explanation. Thank you for your work.

[@shivakumar499]

Clear as it can get... Thank u professor

[@beverly0686]

This helps big time. Thank You for making the video.

[@pmittal19]

Sir your voice is so crisp and clear, your way of teaching is amazing.. I would like to advise one thing, along with income and expense accounts if you can please draw balance sheet too and show the adjustments practically there , it would really be very helpful..

[@ashleygrajo9418]

LIFE! This was great.

[@srilightning]

Thank you, I was so confused on this particular aspect

[@innocentlovablesunny]

You rock Mr. Larry !!

[@Henri2Blah]

Thanks, better lecturer than the one I have at uni lol

[@manuelbriceno3091]

You are the best, thanks a lot .

[@raeedgd8047]

best explain ... thanks man

[@GhulamMustafa-cv8fu]

Thank you so much for your kind support. i appreciate; it.

[@qwenda11]

thank you for the lecture!!!

[@creator1336]

Thank you! Very simply explained.

[@anitafitriani5158]

Thank you sir ,this is very helping me

[@renegadek9]

Loved the example and teaching, and I know this is one person, but felt tip pens on paper send chills up my spine like nails on a chalk board does for some. Will have to fight through the to get the good instruction.

[@JananiVenugopalan]

Very helpful! Thanks so much !!

[@nguyennhatlinh1873]

it's such a useful example! Thanks!!

[@perennialistperspective]

unearned revenue is a liability account. not sure why no other source helped me figure that out. all revenue accounts are asset accounts EXCEPT unearned revenue.

[@Mariefrancegrsce]

Wow amazing lecture

[@tjgomez4883]

professor you are the best

[@firstreviewer8966]

Great Work! FR

[@kanishkadas5907]

Very good tutorial

[@diontaedaughtry974]

Thank you this was very helpful and informative 👍👍

[@leeluv96]

This is how i've been handling this for 20 years. Lately the auditors have been saying that deferring revenue has been phased out by the accounting standards board. And that non-profits no longer defer revenue. I am a bit rusty so I came out to see how things are done now.

[@sahraosman7064]

THANK you prof much ppreciated of all ur videos I absolutely benefited from .. if u teach online am interested sir .

[@m0khm0kh]

Wow.. Finally, I get it. Thank you

[@bonakiir1006]

Great tutorial, thanks sir.

[@Abishek97]

This was so helpful, thank you!

[@avac2276]

thank you for being so clear!

[@bhavikupadhyaya972]

When I learned this better in this video than I did with my professor it says something

[@linduchyable]

do we call the prepaid expense also a deferred expense? thank you

[@VeryProPlayerYesSir1122]

Crochet LouLou prepaid expenses are assets.

[@potnudles]

Is this also called, Accrued Income? I'm studying through AAT in the UK.

[@marylittles3747]

Can you explain when an account is overstated and understated?

[@MatteaKleefman]

this is great thank u so much

[@afraelzaldyanggara8714]

hello Mr.Larry how the adjustment journal if this transaction is immediately recorded as a service revenue?

[@LM-tz9js]

Thank you for your video! Can you please explain retainer that the vendor paying to law firm, if you still record lessons. Thank you

[@premiumlifestyleliving2543]

Good tutorial

[@yusrasalim2039]

What a great tutorial! Thanks much

[@legakwantabeni]

very helpful video. thanks.

[@learnsomething6265]

Do you have a course or a website?

[@andression859]

Thank you!! This helped me a lot!

[@namasikunamataa8788]

Sir, when preparing the T accounts,do we need to use the information in the trail balance or only those which have been adjusted

[@julienneassogba2885]

so much understanding merci

[@archstand]

With respect to the Journal Entry of Cash advance received from customer, won't we Credit "advance received from Customer"?

[@ВалентинМикляев]

Thank you. Could you please tell when it is possible to write revenue as a credit? I thought that all revenue recievied in advance before providing goods is Credit.

[@cliffclairespicyreviews3502]

Incorrectly You cannot record revenue into it earn. We receive cash in advance but didn't perform the service so this goes under unearned revenue as liability meaning we owe the customer service. So if we complete the whole service then you record revenue.

[@liyan1805]

Very helpful, thanks.

[@cacansoft]

Thank you sir.

[@jiSu-v5c]

gooooooooooooood!!!!!!!!!helpful!

[@talebbagazi1435]

Hi, I want to ask what an unearned revenue account represents, short-term liability, am I right?

[@mehedikhan3959]

Yes

[@MohamedEturki]

God bless you

[@nuondara6735]

Excuse me sir, are you following the GAAP principal or IFRS principal?

[@TheDDEngineer]

Thanks +Larry Lazofson

[@psomasekharreddy4450]

Why can't you credit customer?

[@julieburke4238]

Thank you so much!!!!!

[@easyenglish149]

Thank you sir 🙏

[@Zamankaladi]

Helpful

[@joliesoliman3495]

Thank you so much

[@accounting3169]

Isn't the revenue considered as liabilities too? I'm confused 😭

[@perihuseynova5409]

👌👌👌👌👌👌

[@chriss4514]

Thank you!!

[@Ahmed_Elhaddad]

i love youuuuu sir you are amazingg

[@jenniferlevasseur7]

Thank you

[@abaricocrystalkaye4493]

that was helpful

[@zijiedong5789]

that is awsome

[@romelbensurto6720]

Im new here😁

[@shinxansen]

thanks sir

[@raatkana5205]

thank you sir

[@muhiddenmisbak1013]

Service Income

[@WorkeneshWoldmariam]

thank yoy and you

[@dennisquitoy3345]

Permission to use the video for my Senior High School Students. Thank you.

[@theaccountingtutor1]

Dennis: Yes, of course you may use this video or any of my other videos here to present and provide to your students…Larry

[@dennisquitoy3345]

@@theaccountingtutor1 Thank you so much!

[@rheesekidwell3596]

thanks so i watch over and over. repititive

[@hastinmy]

hello