ACCOUNTING BASICS for Beginners (Whole Playlist) - Accrual Accounting: How it Works & Why it's #1!

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com Accounting Basics Lesson 8. In this episode of Accounting Basics for Beginners we take on the question - which is better? The Accrual Basis of Accounting or the Cash Basis? This episode of Accounting Stuff - Accounting Basics Lesson 8 - is a continuation of our series on Basic Accounting for Beginners. In this tutorial, you will learn: ▪ The definition of the Accruals Basis of Accounting. ▪ Accrual vs Cash Basis - Why is Accrual Accounting better than Cash Accounting? ▪ This will be demonstrated using examples comparing both the accrual method and cash method. ▪ The importance of the Matching Principle. ▪ The Pros and Cons of Accrual Basis of Accounting. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 01:30 - The Problem with the Cash Basis of Accounting 01:49 - What is the Accrual Basis of Accounting? 02:07 - How does the Accrual Basis of Accounting Work 03:59 - What is the Matching Principle? 04:45 - Advantages of Accrual Accounting 05:14 - Disadvantages of Accrual Accounting 06:07 - Which Method of Accounting Should a Start-up Use? 🔎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/thisisaccountingstuff/ 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb ________________________ 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