Revenue Recognition Principle in TWO MINUTES!

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Are you looking for the quickest way to understand the Revenue Recognition Principle? Well look no further! In this video you'll find an easy way to understand Revenue Recognition that easy to follow and keep up with.
Budding Accountants often ask "What is Revenue Recognition?", and deservedly so because is one of the main building blocks of Accrual Accounting. This video will teach you the best way to learn Revenue Recognition without wasting any time at all.
Two minutes is all it takes to find out how to understand Revenue Recognition. This episode of Accounting Stuff is Accounting Basics Lesson 9 of our Accounting for Beginners Playlist and will teach you an easy way to learn Revenue Recognition that will help you understand Revenue Recognition Principle Quickly.
⏱️TIMESTAMPS
00:00 - Intro
00:22 - What is Revenue in Accounting?
00:38 - What is the Revenue Recognition Principle?
00:52 - How the Revenue Recognition Principle Works
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#accounting #accountingbasics #accountingstuff

[@AccountingStuff]

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!

[@munawarkottakkal]

Gud work

[@AccountingStuff]

@@munawarkottakkal Cheers mate!

[@Frozan]

Thanks alot you're the best 😍

[@bhupendraawasthi8433]

good work mate. those two minutes really cleared the stuff about revenue recognition method.

[@mamtarajput5950]

Interesting.. 👍

[@divakarpalani2316]

Finally a cool teacher for accounting

[@AccountingStuff]

Haha, cheers buddy

[@usu866]

Oh my god thats correct. He is a best teacher i have seen

[@pranavpendse8611]

​@@AccountingStuff is accounting hard?

[@ramanabalachandhran]

I can't but talk about how well-edited your videos are, James. Huge respect for the attention to details. Thank you so much.

[@AccountingStuff]

Cheers Ramana!

[@gglyf5716]

Thank you so much... you've basically taught me this concept in 2 min when my prof couldn't explain it in 40.. where's my money at

[@AccountingStuff]

No worries, great to hear that it's making sense for you!

[@mohamedayyub2361]

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

[@aishawani9709]

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! 🙌🙏

[@AccountingStuff]

Glad you enjoyed it! If only it took 2 hours to make...

[@iglo1209]

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.

[@AccountingStuff]

No worries, I'm happy to help! All the best with your studies

[@scott.j1]

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...

[@lisapownall4753]

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!

[@AccountingStuff]

Thanks Lisa :)

[@Ellie-zq4gd]

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!

[@AccountingStuff]

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!!

[@Rob-ed8zk]

You are really good at explaining these concepts. Textbooks examples and other videos arent as easy to understand but yours makes it easy and sticks in my mind. Thank you!

[@AccountingStuff]

Cheers Rob, great to hear that you're enjoying the vids

[@warriorclasheromega5258]

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 .

[@AccountingStuff]

Cheers mate! Thanks for subscribing, there are plenty more videos to come. I'm glad you found these helpful

[@anhdinhthiminh4602]

Really hope that you'll keep releasing new videos, the materials are extremely helpful and great video edit

[@AccountingStuff]

I don't plan on stopping any time soon! Cheers

[@Unbreakablehomoud]

00:54 sec. before continue watching, u have put a great effort in making it clear for beginners to understand. APPRECIATE THAT!

[@AccountingStuff]

No worries Bob!

[@jojythomas6872]

great interpretation!! simple, clear and precise. Hats off to you!

[@AccountingStuff]

Cheers Jojy!

[@trishlaphul1918]

when it was time to know about accounting , I found your channel and I must say ...your explanations are very clear ! so a big thank you !

[@AccountingStuff]

No worries Trishla! I'm happy to help :)

[@turningwest]

James, I LOVE your channel and easy way that you explain these principles. I recommend your channel to all my clients!

[@shamilashafiq551]

im not joking when i say BEST explanation of revenue recognition principle ever!!!!!

[@legally_chic]

Honestly, thank you so so much for creating these! 4 years in and the video is still relevant and the quality is as if someone created it yesterday!!!

[@AccountingStuff]

Glad you enjoyed it!

[@accounteristcpa9261]

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.

[@AccountingStuff]

Thanks, I'm glad to hear that you're enjoying the videos! Great to hear that you're thinking of teaching others

[@tstevens6942]

This is so well detailed and explained in a quick matter of time. Thank you!

[@sabhachaudhary2063]

I'm currently studying economics with accounting and ur vids are helping so much! Ty!!

[@jecarthon]

James is great, thanks for making accounting fun and easy to understand.

[@nicolasoong8051]

Thank You so much This helps a lot since online classes are just reading notes Your videos are amazing and I really appreciate how well you explain everything

[@AccountingStuff]

Cheers! All the best with your studies :)

[@oduogyoduogy7247]

Never found a good teacher like you. Understanding Even better than in class

[@ferdysetia2549]

Crystal clear explanation, thank you so much!

[@roopapatil7890]

Thanks....A simple and easy way to understand the concept

[@annazimmerman225]

Great example! I can actually picture your examples when I read similar problems. Thanks! I love charts.

[@AccountingStuff]

Thanks! All the best with your studies

[@juanfilbert3224]

This is the best 2 mins I've ever use

[@tineha]

Such a simple and effective explanation! Thank youu!

[@rimamarji5144]

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!!!!

[@iamfabgirl7820]

This 2 minutes were definitely worth it.

[@sandraabramova9022]

Your videos help me understand what accounting is about then a class I sit in for 3 Months.

[@AccountingStuff]

Great to hear that the vids are helping Sandra!

[@ayushwaghmare5447]

it was taking almost an hour to understand this concept and you did it in 2:47

[@carlosmontiel677]

Im an accountant and I love watching your videos. Is really useful as for finding New ways of teaching my students the accounting basics. 🙌🤓

[@AccountingStuff]

Great to hear that you're enjoying them! I'm happy to help

[@Austin-wh4yi]

You should have a lot more subscribers, your content is top tier.

[@AccountingStuff]

Thanks Odean!

[@AmitKumar-hx4li]

Bro the hard work you have done to make this video is absolutely amazing. Keep it up . And definitely one day you gonna be a big KZbinr 😎🎥

[@AccountingStuff]

Hey Amit! Thanks for noticing, it's fun putting in the extra effort from time to time. Cheers, and all the best

[@psychoctator2658]

Damn For the 1st time i learn accounting in such an amazing video! U r so cool! I wish i found ur channel so much earlier Definitely subscribe 💘

[@AccountingStuff]

Glad you liked the video, and thanks for the sub!

[@Janjo64]

Have a midterm tomorrow and this definitely made me feel better ahh I hope I do well

[@AccountingStuff]

Good Luck!!

[@hemasharma5]

Explained Amazingly with examples

[@manndesai6173]

Thankyou for such a short yet easy to understand video 👍🏼 keep up the good work.

[@AccountingStuff]

Cheers, will do!

[@charlesmedenilla6527]

these one is a hero!!! more please

[@poncowibowo636]

Love it!! ur channel helps me to reread and restudy my accounting knowledge, much respect :)

[@AccountingStuff]

Cheers Muhammad!

[@jobertlantayona6199]

awesome! I can confidently do my report tomorrow because of this 💕

[@jaimiechen7034]

Easy to understand. Nice job 👍

[@neetdodhia2960]

I love your videos man , watched around 10 videos of yours in the last hour and liked all of them , thank you ❤❤❤

[@AccountingStuff]

That's great to hear thanks!

[@aayushisinghbais2133]

Heyy thank you so muchhh!!! Thank you for making a difference. Your videos are such a great help. So grateful to youu💫❤️❤️

[@ivessyy1177]

You are a good accounts teacher and will subscribe to all your channels...thanks alot james...

[@AccountingStuff]

Thanks!!

[@Saif_Hakami]

THANK YOU SO MUCH SIR THIS IS REALLY HELPFUL. you are explaining this complicated subject (to me at least) like it is as simple as 1+1.

[@mayhnin8345]

It was really really helpful . Sending many thanks

[@karlag.vasquez5004]

I love your videos!! They are helping me so much with my accounting class.

[@AccountingStuff]

Thanks Karla! Hope it's all going well

[@Karan-ix8kh]

Yo thank you. you make these concepts so easy to understand and entertaining at the same time :)

[@AccountingStuff]

No worries Karan, you are very welcome :)

[@nurcandashdamirova7864]

Thank u very much. And i want to say that I didn't feel how time is going when i start to watch your videoss🤩

[@AccountingStuff]

You're most welcome :)

[@belugabibletranslations8594]

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.

[@musserashaheen5004]

Wow❤️ you are the best teacher your way of explaining is very good 👍 i appreciate you ☺️ plz upload more videos

[@happy_person171]

best teacher i have seen ever , wow 😧😧😧

[@ddduva4440]

Practical examples. Thank you.

[@AccountingStuff]

Thanks for your request!

[@rahmatulloochilov3477]

Thanks man It's amazing Good luck.!!!

[@milbxbycol9426]

I am an accountant student and I have come across teachers who are not aligned with themselves and their true values. This makes the learning process unmotivated and boring. However, James is an individual who can see the true value not just in his Accounting career but in every single area of his life. This makes a person whole and grounded, able to inspire people with their words, presence and actions. We are lucky James is an accountant and can illuminate us in our preparation with his personality, knowledge and sharp communication skills.

[@AccountingStuff]

Thanks for your kind words!

[@dkaur1206]

Hi James! Your videos are very helpful and easy to understand the accounting concepts. It would be very helpful if you can make a video on revenue recognition for Non-for-profit organization!!

[@AccountingStuff]

Thanks and cheers for your request!

[@Spenserifically]

I love this thank you so much 💕 very helpful!!👏

[@mohsinbaig2195]

Watched done 🙌🏼. Man I am in love with this channel. I watched twice, 1st I note down the stuff and 2nd I listened what you said. 💕

[@AccountingStuff]

Hope it's making sense!

[@mohsinbaig2195]

@@AccountingStuff yes absolutely ✨

[@pankajgupta404]

Awesome! Very nice way to explain the concept in 2 mins.

[@AccountingStuff]

Thanks Pankaj!

[@yurimikhailov6321]

A video on Inter-company expenses and revenue please :) . I come back to your vids every now and then to refresh concepts

[@AccountingStuff]

👍 Cheers for your suggestion David

[@deiwa2511__]

I love the way you teach it's understandable 🙂🙂.... Keep it up

[@tamimabdullah3624]

I was exactly looking for this, man. thanks

[@AccountingStuff]

No worries, hope it helped :)

[@sruthesagayaraja6692]

Thank you so much for this wonderful explanation!

[@AccountingStuff]

You're most welcome :)

[@danielv7621]

The best teacher🔥🔥🔥

[@sunshineglow84]

Your videos are so helpful and make accounting fun, and they stick!

[@AccountingStuff]

Thanks for your kind words!

[@myexperience4435]

@@AccountingStuff thanks 🙏 you sir, aapke wajah se account me and English dono achi hogyi meri

[@uzgower869]

effective and creative way to teach academic terms. Thank you brotha

[@AccountingStuff]

You're very welcome! Glad you enjoyed it :)

[@MuntahaBatool28]

Amazing Video . This video made this principle So simple and easy to understand

[@AccountingStuff]

Thanks Muntaha, I'm glad it's making sense

[@daniellew6908]

Very helpful thank you

[@russellfernandez57]

Straight to the point, thanks

[@AccountingStuff]

You're welcome :)

[@fahedalyafiy6215]

best accounting channel so far

[@AccountingStuff]

Thank you kindly!

[@Petite43]

thank you for explaining.. I get it , Revenue Recognition when services is provided. you have a new subscriber.

[@AccountingStuff]

Thanks it's great to have you on board!

[@Pj87_]

Nice man! your teaching way is awesome 🙌🔥🔥

[@yositasunintaboon4455]

Thank you so much for creating this helpful video

[@AccountingStuff]

No worries Yosita

[@sosike3897]

Even though it is 2 years ago and I am watching it in 2021 it still seems to be a lot useful. Thanks a lot sir.

[@AccountingStuff]

Glad you're finding it helpful :)

[@sosike3897]

@@AccountingStuff 😊

[@rowanelassy7529]

Your vedios’ style is really brilliant.

[@AccountingStuff]

Thanks Rowan :)

[@usu866]

Wow you are a cool commerce teacher who i have ever seen

[@jobinjoselukose5534]

I'm impressed.❤️ U earned a new subscriber👍

[@AccountingStuff]

Great to have you on board :)

[@ramanathanmurugesan9567]

Thank you very much

[@ruchikahinduja6571]

WOW!!! very well explained in 2mins. You are awesome. Keep up the good work... You should have a lot more subscribers. I wish you luck :)

[@AccountingStuff]

Thanks Ruchika!

[@RahulVerma-qx9bh]

My most knowledgeable 2min😦!

[@FredAriiki-go2jw]

Thanks lam learning alot of accounting stuff.

[@AccountingStuff]

That's great to hear!

[@prasannakumar9592]

Great Bro, your session is marvellous. Keep doing such good videos for us

[@AccountingStuff]

Cheers Prasanna, I'm working on more as we speak!

[@tszhotorressham1817]

gorgeous! easy to understand

[@AccountingStuff]

Cheers!

[@influencingmenslifestyle7490]

Please don’t ever stop making videos.

[@nihmaniufar3027]

Fantastic explanation!

[@AccountingStuff]

Thanks!

[@aprivera103105]

Thanks for this!!!

[@AccountingStuff]

You are welcome :)

[@roshnitiwari6761]

Thanks sir...very well explained

[@AccountingStuff]

No worries Roshni!

[@ageduni742]

Appreciate you!

[@moweenupiah6336]

This is brilliant mate! Cheers

[@AccountingStuff]

You're most welcome :)

[@nightthemare4742]

Amazing!

[@sasosaso5995]

Thanks. Perfect.

[@AccountingStuff]

No worries, hope you found it useful!

[@jnmyers62]

Really good job. I like the chart with the cake, the car, and the money.

[@AccountingStuff]

Thanks James!

[@TheWiscoKid]

great work

[@andreabeneke3524]

This channel is everything! Who needs a university, right? :P

[@HOMEFOODMANIACS]

Superb brother 👍🏻👍🏻👍🏻

[@AccountingStuff]

Thanks Munesh!

[@srdieselinc1039]

Yes to longer videos!!