ACCOUNTING BASICS for Beginners (Whole Playlist) - A Complete Guide to Adjusting Entries

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com In this video, you'll discover everything you need to know about Adjusting Entries. Adjusting Entries are Journal Entries posted at the end of each accounting period to align a business's financial records with the Accrual Method of accounting. They can be categorized into four main groups: ▪ Prepaid Expenses ▪ Deferred Revenue ▪ Accrued Expenses ▪ Accrued Revenue I’ll break down each type with simple, easy-to-follow examples to help you understand how they work in real-world scenarios. Adjusting Entries are crucial for creating accurate Financial Statements. By the end of this video, you'll have a solid grasp of how they work and why they’re so important. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:44 - What are Adjusting Entries? 08:14 - Prepaid Expenses 16:58 - Deferred Revenue 26:11 - Accrued Expenses 37:48 - Accrued Revenue 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mfchsgfw8z ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🚶FOLLOW ME ON ▪ Instagram → https://www.instagram.com/accountingstuff ▪ TikTok → https://www.tiktok.com/@accounting_stuff ▪ Facebook → https://www.facebook.com/accountingstuff ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff