Deferrals & Accruals | Deferred Revenue, Deferred Expense, Accrued Revenue & Accrued Expense

[@jocelynnelson]

I've been trying to wrap my head around this for so long and I'm so glad I found your video! You break it down in a way that actually makes sense. Thank you!

[@jadeharris4356]

love that you included both perspectives. Thank you so much!

[@noviesolinavie6636]

what a great professor , you are better than my prof, next week is our exam and i still don't get it. but now its all fine thank u sir

[@MYTHOMINHTRAN]

I will not need my Prof. in the college any more! Appreciate very much your work, Sir.

[@Pradeep21k]

this Video cleared all my doubts. Thank you very much sir..

[@joefessor]

Glad to be of help!

[@SanjaySakote]

The way you have explained is superb

[@andululu6964]

Very clever explanation, putting all examples in one sheet.

[@jeevanasknani5003]

very well explained, thank you for putting Deferred & accrual together, it is very helpful.

[@abiia9796]

Easy to understand. Thanks for this Vedio.

[@MrAB-pp5tt]

Thank you sir explained in detailed way, please make a video on provisions eg. Bad debts and depreciation..

[@azeezshaik9770]

So clear. Thanks for the video❤

[@adihirekhot9154]

Very clear. Thank you

[@rameshberelli3102]

Fabulously explained..

[@mahmoudalshami1557]

Wow great content ❤❤❤

[@user-sk7tm3ps1m]

Thank you very much for your explanation, it helped me alot

[@joefessor]

Glad to hear that!

[@nareshbandaru4943]

You are really really really great sir..plz make more videos

[@syedacreationmenhdidesign6819]

Thank you Sir your way of explaining is awesome i really searching this type of video so long. This video cleared my all doubts. Thank you so much 🥰

[@surbhirajvanshi7885]

Very well explained

[@harshadadik1853]

Very well explained, Thank you

[@joefessor]

Glad it was helpful!

[@surajsingh-zm2zt]

Very helpful video thank you ☺️

[@priyankasatope9608]

You are very good sir thank you 🙏🏻🙏🏻 love from india

[@kiranshetty8889]

Explained very well 💯

[@lillyflower7501]

Thank you so much for this well displayed example. May I confirm that the reason you debited expenses rather than logging it as an asset was because the product was under the $2,500 threshold?

[@joefessor]

There are several reasons for why this could be the case - if the benefits of what you spend are short-lived, then they are expensed....on the contrary, if the benefits are long-lived, then you can capitalize them as an asset and depreciate it over time... Further, in line with your comment, if the amount spent is insignificant, expensing it is the way to go (think of a $10 pair of scissors - just expense it even if you'll probably use it for several years)!

[@lillyflower7501]

@@joefessor Awesome. I understand now. Thank you so much!

[@norz172steel5]

Thanks

[@munasalim1494]

Why in Accurred expenses it becomes different in borrowing

[@samrendersingh2717]

Difficult to imagine why cash would be credited to buyer when money goes out of his account, and seller is debited when he receives the amount.😐

[@joefessor]

The easiest way to visualize this is imagine when a benefit (could be cash or anything else) leaves from account A to B -> then you typically credit the source account A and debit the destination account B. You'll have to put aside the real-world definition of crediting and debiting your bank account. Hope this helps!

[@shailjakothari2111]

Very well explained