-
Revenue Recognition Principle in TWO MINUTES!
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
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 h...
published: 04 Nov 2018
-
Revenue vs. Gross Income/Profit/Earnings vs. Net Income/Profit/Earnings (Bottom Line) in One Minute
Are "revenue" and "income" terms one can consider interchangeable?
Is it okay either way if you say "income" or "profits"... or what about "earnings"... and what is the difference between gross/net when it comes to them?
Unfortunately, confusion abounds when it comes to analyzing a company's revenue, its gross income or its net income (also known as its bottom line). Adding terms such as profit or earnings to the mix and figuring out when/if you should use those makes matters even more confusing for most people.
This video explains everything in a way that won't make your head hurt.
We will simply analyze Tom's one-man business and see how much revenue he generated last year. Unfortunately for him, he won't get to keep all that money, so we will subtract the cost of goods sold so as to...
published: 06 Oct 2019
-
🚨 REVENUE VS. PROFIT: What Is The Difference? | Lena Petrova, CPA Explains
📍Join Lena's Patreon community: https://www.patreon.com/LenaPetrova
📍Join Lena's Locals community: https://lenapetrova.locals.com/
📍Connect with Lena:
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▪️Telegram: https://t.me/LenaPetrovaOnTelegram
▪️YouTube (Tax, Finance): https://www.youtube.com/@lenapetrovaCPA
📍Support the channel:
▪️PayPal: https://paypal.me/LenaPetrovaChannel
▪️Buy me a coffee: https://ko-fi.com/lenapetrova
📍Discounts & Offers:
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Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for ...
published: 03 Mar 2024
-
Revenue vs Income - Difference Between Revenue and Income
In this video, learn the difference between revenue and income. If you own a business or are interested in business topics, you need to know the difference between revenue and income. If you're an employee (not a business owner) then you only need to know about income.
Learn the difference in this video and feel confident using revenue and income as an individual and as a business owner.
Please subscribe for more videos to help you learn English and sound like a native English speaker!
Let’s Connect:
Facebook Page: https://www.facebook.com/JForrestEnglish
Twitter: https://twitter.com/JForrestEnglish
LinkedIn: https://www.linkedin.com/in/jennifer-forrest
Website: http://www.jforrestenglish.com/
Free Guide – Speak English Fluently & Confidently in 6 Easy Steps. Download ...
published: 19 Jun 2020
-
Accrued revenue vs deferred revenue
Accrued revenue versus deferred revenue, also known as unbilled revenue versus unearned revenue. What are the similarities between accrued revenue and deferred revenue, and what are the differences?
To start off with, both terms contain the word revenue. One of the Big Questions in accounting is whether the delivery of goods or services has occurred, or in more technical revenue recognition terms, whether the performance obligations in the contract have been met. There’s not always a full match between the invoicing to customers in the accounting period and the revenue booked in the general ledger in the accounting period. That’s the first similarity between accrued revenue and deferred revenue, we’ll get into lots more detail on that.
Another similarity is that accrued revenue and defer...
published: 03 Sep 2020
-
Deferred Revenue Explained | Adjusting Entries
💥Adjusting Entries Cheat Sheet → https://accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → https://accountingstuff.com/practice-questions
Deferred Revenue can be a real head-scratcher. As if Adjusting Entries weren't already confusing enough... Deferred Revenue, Unearned Revenue and Prepaid Revenue all mean the same thing!
In this video, you'll find out what these terms mean and I'll show how to account for them correctly, using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → https://youtu.be/H0N7tvXuJlU
▪ Prepaid Expenses → https://youtu.be/RE7wrflFOGA
▪ Deferred Revenue → https://youtu.be/F1zNQ1wga7o
▪ Accrued Expense...
published: 19 Jun 2019
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What is Revenue? - By Saheb Academy
Here I have explained the term Revenue in a simple way.
Introduction to Accounting - Basics Concepts
https://youtu.be/xWKfKCnQqAE
Clear your doubts by direct messaging us on Instagram
https://www.instagram.com/sahebacademy/
#Accounting #SHORTS #Class11
published: 17 Sep 2021
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IFRS 15 Revenue from Contracts with Customers summary - applies in 2024
https://www.cpdbox.com
This video is a short summary of IFRS 15. If you need to learn more, please visit our website for great discussion with many practical advices on this standard.
The contents:
00:00 Introduction
00:32 Guidance on revenue recognition
02:05 Scope of IFRS 15
03:06 5-step model for revenue recognition: Short overview
04:32 Step 1: Identify the contract with the customer
06:23 Step 2: Identify the performance obligations
08:21 Step 3: Determine the transaction price
10:33 Step 4: Allocate the transaction price to the performance obligations
14:33 Step 5: Recognize revenue when/as the entity satisfies PO
16:02 Contract costs
This is just the short executive summary of IFRS 15 and does NOT replace the full standard - you can see the full text on IFRS Foundation's webs...
published: 27 Sep 2021
-
Types of income #money
published: 21 Feb 2025
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What is Revenue? - Financial Accounting
Professor AJ Kooti explains, What are Expenses in Accounting, as part of his financial accounting course series.
https://thebusinessprofessor.com/en_US/accounting-taxation-and-reporting-managerial-amp-financial-accounting-amp-reporting/what-are-revenues
published: 16 May 2021
2:48
Revenue Recognition Principle in TWO MINUTES!
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
Are you looking for the quickest way to understand the Revenue Recognition Principle...
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
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
🔎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
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🎬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
https://wn.com/Revenue_Recognition_Principle_In_Two_Minutes
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
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
🔎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
- published: 04 Nov 2018
- views: 255072
1:42
Revenue vs. Gross Income/Profit/Earnings vs. Net Income/Profit/Earnings (Bottom Line) in One Minute
Are "revenue" and "income" terms one can consider interchangeable?
Is it okay either way if you say "income" or "profits"... or what about "earnings"... and wh...
Are "revenue" and "income" terms one can consider interchangeable?
Is it okay either way if you say "income" or "profits"... or what about "earnings"... and what is the difference between gross/net when it comes to them?
Unfortunately, confusion abounds when it comes to analyzing a company's revenue, its gross income or its net income (also known as its bottom line). Adding terms such as profit or earnings to the mix and figuring out when/if you should use those makes matters even more confusing for most people.
This video explains everything in a way that won't make your head hurt.
We will simply analyze Tom's one-man business and see how much revenue he generated last year. Unfortunately for him, he won't get to keep all that money, so we will subtract the cost of goods sold so as to calculate his gross income (or profit, or earnings... either option is okay in our case). Finally, he doesn't keep that money either, so we will ultimately have to also calculate his net income, something many analysts refer to as the bottom line.
That's really all there is to it.
You don't have to memorize the terms in a robot-like manner, the name of the game is understanding the journey from revenue to net income. This video explains just that :)
https://wn.com/Revenue_Vs._Gross_Income_Profit_Earnings_Vs._Net_Income_Profit_Earnings_(Bottom_Line)_In_One_Minute
Are "revenue" and "income" terms one can consider interchangeable?
Is it okay either way if you say "income" or "profits"... or what about "earnings"... and what is the difference between gross/net when it comes to them?
Unfortunately, confusion abounds when it comes to analyzing a company's revenue, its gross income or its net income (also known as its bottom line). Adding terms such as profit or earnings to the mix and figuring out when/if you should use those makes matters even more confusing for most people.
This video explains everything in a way that won't make your head hurt.
We will simply analyze Tom's one-man business and see how much revenue he generated last year. Unfortunately for him, he won't get to keep all that money, so we will subtract the cost of goods sold so as to calculate his gross income (or profit, or earnings... either option is okay in our case). Finally, he doesn't keep that money either, so we will ultimately have to also calculate his net income, something many analysts refer to as the bottom line.
That's really all there is to it.
You don't have to memorize the terms in a robot-like manner, the name of the game is understanding the journey from revenue to net income. This video explains just that :)
- published: 06 Oct 2019
- views: 110538
3:47
🚨 REVENUE VS. PROFIT: What Is The Difference? | Lena Petrova, CPA Explains
📍Join Lena's Patreon community: https://www.patreon.com/LenaPetrova
📍Join Lena's Locals community: https://lenapetrova.locals.com/
📍Connect with Lena:
▪️Newsl...
📍Join Lena's Patreon community: https://www.patreon.com/LenaPetrova
📍Join Lena's Locals community: https://lenapetrova.locals.com/
📍Connect with Lena:
▪️Newsletter: https://lenapetrova.substack.com/
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▪️Telegram: https://t.me/LenaPetrovaOnTelegram
▪️YouTube (Tax, Finance): https://www.youtube.com/@lenapetrovaCPA
📍Support the channel:
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▪️Buy me a coffee: https://ko-fi.com/lenapetrova
📍Discounts & Offers:
▪️ExpressVPN - 3 MONTHS FREE to protect your internet privacy: https://www.expressvpn.com/lena
Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.
https://wn.com/🚨_Revenue_Vs._Profit_What_Is_The_Difference_|_Lena_Petrova,_Cpa_Explains
📍Join Lena's Patreon community: https://www.patreon.com/LenaPetrova
📍Join Lena's Locals community: https://lenapetrova.locals.com/
📍Connect with Lena:
▪️Newsletter: https://lenapetrova.substack.com/
▪️Rumble: https://rumble.com/c/LenaPetrova
▪️YouTube: https://www.youtube.com/@lenapetrova
▪️X: https://twitter.com/LenaPetrovaOnX
▪️Telegram: https://t.me/LenaPetrovaOnTelegram
▪️YouTube (Tax, Finance): https://www.youtube.com/@lenapetrovaCPA
📍Support the channel:
▪️PayPal: https://paypal.me/LenaPetrovaChannel
▪️Buy me a coffee: https://ko-fi.com/lenapetrova
📍Discounts & Offers:
▪️ExpressVPN - 3 MONTHS FREE to protect your internet privacy: https://www.expressvpn.com/lena
Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.
- published: 03 Mar 2024
- views: 4085
5:25
Revenue vs Income - Difference Between Revenue and Income
In this video, learn the difference between revenue and income. If you own a business or are interested in business topics, you need to know the difference betw...
In this video, learn the difference between revenue and income. If you own a business or are interested in business topics, you need to know the difference between revenue and income. If you're an employee (not a business owner) then you only need to know about income.
Learn the difference in this video and feel confident using revenue and income as an individual and as a business owner.
Please subscribe for more videos to help you learn English and sound like a native English speaker!
Let’s Connect:
Facebook Page: https://www.facebook.com/JForrestEnglish
Twitter: https://twitter.com/JForrestEnglish
LinkedIn: https://www.linkedin.com/in/jennifer-forrest
Website: http://www.jforrestenglish.com/
Free Guide – Speak English Fluently & Confidently in 6 Easy Steps. Download Now:
https://courses.jforrestenglish.com/free-guide-speak-english-fluently-and-confidently-in-6-easy-steps/
https://wn.com/Revenue_Vs_Income_Difference_Between_Revenue_And_Income
In this video, learn the difference between revenue and income. If you own a business or are interested in business topics, you need to know the difference between revenue and income. If you're an employee (not a business owner) then you only need to know about income.
Learn the difference in this video and feel confident using revenue and income as an individual and as a business owner.
Please subscribe for more videos to help you learn English and sound like a native English speaker!
Let’s Connect:
Facebook Page: https://www.facebook.com/JForrestEnglish
Twitter: https://twitter.com/JForrestEnglish
LinkedIn: https://www.linkedin.com/in/jennifer-forrest
Website: http://www.jforrestenglish.com/
Free Guide – Speak English Fluently & Confidently in 6 Easy Steps. Download Now:
https://courses.jforrestenglish.com/free-guide-speak-english-fluently-and-confidently-in-6-easy-steps/
- published: 19 Jun 2020
- views: 44583
4:34
Accrued revenue vs deferred revenue
Accrued revenue versus deferred revenue, also known as unbilled revenue versus unearned revenue. What are the similarities between accrued revenue and deferred ...
Accrued revenue versus deferred revenue, also known as unbilled revenue versus unearned revenue. What are the similarities between accrued revenue and deferred revenue, and what are the differences?
To start off with, both terms contain the word revenue. One of the Big Questions in accounting is whether the delivery of goods or services has occurred, or in more technical revenue recognition terms, whether the performance obligations in the contract have been met. There’s not always a full match between the invoicing to customers in the accounting period and the revenue booked in the general ledger in the accounting period. That’s the first similarity between accrued revenue and deferred revenue, we’ll get into lots more detail on that.
Another similarity is that accrued revenue and deferred revenue are both balance sheet accounts. Accrued revenue is an asset, something that we as a company own, it goes on the left hand side of the balance sheet. Deferred revenue is a liability, it is something that we as a company owe, it goes on the right hand side of the balance sheet.
In addition, both accrued revenue and deferred revenue are #adjustingentries . Adjusting entries are accounting journal entries that convert a company's accounting records to the accrual basis of accounting.
We are basically dealing with the same subject matter, but approaching it from different directions. Accrued revenue is booked so we don’t understate revenue for the period. Deferred revenue is booked so we don’t overstate revenue for the period. Accrued revenue is sometimes called unbilled revenue, while deferred revenue is sometimes called unearned revenue. Let’s review accrued revenue and then deferred revenue in more detail.
The definition of #accruedrevenue is : revenue earned for goods or services delivered but not billed to the customer yet. An example is a service company that repairs and services heating systems in buildings, that works with timesheets. These timesheets are signed by the client for work performed in December, but the invoicing system for December is already closed, so we will record an accrued revenue journal entry directly into the general ledger to make sure we capture the revenue in the right period.
⏱️TIMESTAMPS⏱️
0:00 Introduction to accrued revenue and deferred revenue
1:17 Unbilled revenue vs unearned revenue
1:47 Accrued revenue definition and journal entries
2:56 Deferred revenue definition and journal entries
Here are the journal entries for accrued revenue. Step one is the adjusting entry at period-end. Debit accrued revenue on the balance sheet, credit revenue in the income statement. Step two is to issue the invoice in the new accounting period. Debit accounts receivable on the balance sheet, credit accrued revenue on the balance sheet. This brings the balance of the accrued revenue account on the balance sheet back to zero, it is cleared out. Step three is for the customer to pay the invoice. Debit cash, credit accounts receivable.
Deferred revenue deals with the exact opposite situation. The definition of deferred revenue is: the obligation to deliver goods or perform services in the future for which billing has already occurred and/or cash has been received. Deferred revenue is a liability, because if you fail to provide those goods or services in the future, you will have to pay the money back. An example of deferred revenue is an upfront payment by a customer for a gym membership, insurance, or a service contract, each of which could cover several months or even years. From the customer’s perspective, this is a prepaid expense. From the company’s perspective, this is treated as deferred revenue. The customer pays the full amount of the contract upfront: debit cash on the assets side of the balance sheet, credit deferred revenue on the liability side of the balance sheet. For each of the subsequent accounting periods, you determine how much of the upfront payment relates to that specific period, and record a debit to deferred revenue on the balance sheet and a credit to revenue in the income statement. At the end of the contract, the sum of the debits and the credits in the deferred revenue account should be equal, it is cleared out.
Philip de Vroe (The Finance Storyteller) aims to make accounting, finance and investing enjoyable and easier to understand. Learn the business and accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better investing decisions. Philip delivers #financetraining in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
Want to get access to bonus content, and/or express your gratitude by buying me a cup of tea? Join my channel as a member through https://www.youtube.com/channel/UCQQJnyU8fALcOqqpyyIN4sg/join
https://wn.com/Accrued_Revenue_Vs_Deferred_Revenue
Accrued revenue versus deferred revenue, also known as unbilled revenue versus unearned revenue. What are the similarities between accrued revenue and deferred revenue, and what are the differences?
To start off with, both terms contain the word revenue. One of the Big Questions in accounting is whether the delivery of goods or services has occurred, or in more technical revenue recognition terms, whether the performance obligations in the contract have been met. There’s not always a full match between the invoicing to customers in the accounting period and the revenue booked in the general ledger in the accounting period. That’s the first similarity between accrued revenue and deferred revenue, we’ll get into lots more detail on that.
Another similarity is that accrued revenue and deferred revenue are both balance sheet accounts. Accrued revenue is an asset, something that we as a company own, it goes on the left hand side of the balance sheet. Deferred revenue is a liability, it is something that we as a company owe, it goes on the right hand side of the balance sheet.
In addition, both accrued revenue and deferred revenue are #adjustingentries . Adjusting entries are accounting journal entries that convert a company's accounting records to the accrual basis of accounting.
We are basically dealing with the same subject matter, but approaching it from different directions. Accrued revenue is booked so we don’t understate revenue for the period. Deferred revenue is booked so we don’t overstate revenue for the period. Accrued revenue is sometimes called unbilled revenue, while deferred revenue is sometimes called unearned revenue. Let’s review accrued revenue and then deferred revenue in more detail.
The definition of #accruedrevenue is : revenue earned for goods or services delivered but not billed to the customer yet. An example is a service company that repairs and services heating systems in buildings, that works with timesheets. These timesheets are signed by the client for work performed in December, but the invoicing system for December is already closed, so we will record an accrued revenue journal entry directly into the general ledger to make sure we capture the revenue in the right period.
⏱️TIMESTAMPS⏱️
0:00 Introduction to accrued revenue and deferred revenue
1:17 Unbilled revenue vs unearned revenue
1:47 Accrued revenue definition and journal entries
2:56 Deferred revenue definition and journal entries
Here are the journal entries for accrued revenue. Step one is the adjusting entry at period-end. Debit accrued revenue on the balance sheet, credit revenue in the income statement. Step two is to issue the invoice in the new accounting period. Debit accounts receivable on the balance sheet, credit accrued revenue on the balance sheet. This brings the balance of the accrued revenue account on the balance sheet back to zero, it is cleared out. Step three is for the customer to pay the invoice. Debit cash, credit accounts receivable.
Deferred revenue deals with the exact opposite situation. The definition of deferred revenue is: the obligation to deliver goods or perform services in the future for which billing has already occurred and/or cash has been received. Deferred revenue is a liability, because if you fail to provide those goods or services in the future, you will have to pay the money back. An example of deferred revenue is an upfront payment by a customer for a gym membership, insurance, or a service contract, each of which could cover several months or even years. From the customer’s perspective, this is a prepaid expense. From the company’s perspective, this is treated as deferred revenue. The customer pays the full amount of the contract upfront: debit cash on the assets side of the balance sheet, credit deferred revenue on the liability side of the balance sheet. For each of the subsequent accounting periods, you determine how much of the upfront payment relates to that specific period, and record a debit to deferred revenue on the balance sheet and a credit to revenue in the income statement. At the end of the contract, the sum of the debits and the credits in the deferred revenue account should be equal, it is cleared out.
Philip de Vroe (The Finance Storyteller) aims to make accounting, finance and investing enjoyable and easier to understand. Learn the business and accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better investing decisions. Philip delivers #financetraining in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
Want to get access to bonus content, and/or express your gratitude by buying me a cup of tea? Join my channel as a member through https://www.youtube.com/channel/UCQQJnyU8fALcOqqpyyIN4sg/join
- published: 03 Sep 2020
- views: 102166
10:25
Deferred Revenue Explained | Adjusting Entries
💥Adjusting Entries Cheat Sheet → https://accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → https://accountingstuff.com/practice-questions
Deferred...
💥Adjusting Entries Cheat Sheet → https://accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → https://accountingstuff.com/practice-questions
Deferred Revenue can be a real head-scratcher. As if Adjusting Entries weren't already confusing enough... Deferred Revenue, Unearned Revenue and Prepaid Revenue all mean the same thing!
In this video, you'll find out what these terms mean and I'll show how to account for them correctly, using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → https://youtu.be/H0N7tvXuJlU
▪ Prepaid Expenses → https://youtu.be/RE7wrflFOGA
▪ Deferred Revenue → https://youtu.be/F1zNQ1wga7o
▪ Accrued Expenses → https://youtu.be/9aZ6CCj-ies
▪ Accrued Revenue → https://youtu.be/7ibN25VCvFg
🔝 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
FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m
🚶FOLLOW ME ON
▪ Instagram → https://www.instagram.com/accountingstuff
▪ TikTok → https://www.tiktok.com/@accounting_stuff
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LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb
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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!
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#accounting #adjustingentries #accountingstuff
https://wn.com/Deferred_Revenue_Explained_|_Adjusting_Entries
💥Adjusting Entries Cheat Sheet → https://accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → https://accountingstuff.com/practice-questions
Deferred Revenue can be a real head-scratcher. As if Adjusting Entries weren't already confusing enough... Deferred Revenue, Unearned Revenue and Prepaid Revenue all mean the same thing!
In this video, you'll find out what these terms mean and I'll show how to account for them correctly, using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → https://youtu.be/H0N7tvXuJlU
▪ Prepaid Expenses → https://youtu.be/RE7wrflFOGA
▪ Deferred Revenue → https://youtu.be/F1zNQ1wga7o
▪ Accrued Expenses → https://youtu.be/9aZ6CCj-ies
▪ Accrued Revenue → https://youtu.be/7ibN25VCvFg
🔝 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
FAQ
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▪ 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 #adjustingentries #accountingstuff
- published: 19 Jun 2019
- views: 243055
1:08
What is Revenue? - By Saheb Academy
Here I have explained the term Revenue in a simple way.
Introduction to Accounting - Basics Concepts
https://youtu.be/xWKfKCnQqAE
Clear your doubts by direct ...
Here I have explained the term Revenue in a simple way.
Introduction to Accounting - Basics Concepts
https://youtu.be/xWKfKCnQqAE
Clear your doubts by direct messaging us on Instagram
https://www.instagram.com/sahebacademy/
#Accounting #SHORTS #Class11
https://wn.com/What_Is_Revenue_By_Saheb_Academy
Here I have explained the term Revenue in a simple way.
Introduction to Accounting - Basics Concepts
https://youtu.be/xWKfKCnQqAE
Clear your doubts by direct messaging us on Instagram
https://www.instagram.com/sahebacademy/
#Accounting #SHORTS #Class11
- published: 17 Sep 2021
- views: 72401
18:24
IFRS 15 Revenue from Contracts with Customers summary - applies in 2024
https://www.cpdbox.com
This video is a short summary of IFRS 15. If you need to learn more, please visit our website for great discussion with many practical a...
https://www.cpdbox.com
This video is a short summary of IFRS 15. If you need to learn more, please visit our website for great discussion with many practical advices on this standard.
The contents:
00:00 Introduction
00:32 Guidance on revenue recognition
02:05 Scope of IFRS 15
03:06 5-step model for revenue recognition: Short overview
04:32 Step 1: Identify the contract with the customer
06:23 Step 2: Identify the performance obligations
08:21 Step 3: Determine the transaction price
10:33 Step 4: Allocate the transaction price to the performance obligations
14:33 Step 5: Recognize revenue when/as the entity satisfies PO
16:02 Contract costs
This is just the short executive summary of IFRS 15 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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*Online IFRS course by Silvia, CPDbox: https://www.cpdbox.com/ifrs-kit/
*Subscribe to Silvia's free newsletter: https://www.cpdbox.com/
#IFRS #IFRS15 #ifrsaccounting
https://wn.com/Ifrs_15_Revenue_From_Contracts_With_Customers_Summary_Applies_In_2024
https://www.cpdbox.com
This video is a short summary of IFRS 15. If you need to learn more, please visit our website for great discussion with many practical advices on this standard.
The contents:
00:00 Introduction
00:32 Guidance on revenue recognition
02:05 Scope of IFRS 15
03:06 5-step model for revenue recognition: Short overview
04:32 Step 1: Identify the contract with the customer
06:23 Step 2: Identify the performance obligations
08:21 Step 3: Determine the transaction price
10:33 Step 4: Allocate the transaction price to the performance obligations
14:33 Step 5: Recognize revenue when/as the entity satisfies PO
16:02 Contract costs
This is just the short executive summary of IFRS 15 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
------
*Online IFRS course by Silvia, CPDbox: https://www.cpdbox.com/ifrs-kit/
*Subscribe to Silvia's free newsletter: https://www.cpdbox.com/
#IFRS #IFRS15 #ifrsaccounting
- published: 27 Sep 2021
- views: 243501
2:14
What is Revenue? - Financial Accounting
Professor AJ Kooti explains, What are Expenses in Accounting, as part of his financial accounting course series.
https://thebusinessprofessor.com/en_US/account...
Professor AJ Kooti explains, What are Expenses in Accounting, as part of his financial accounting course series.
https://thebusinessprofessor.com/en_US/accounting-taxation-and-reporting-managerial-amp-financial-accounting-amp-reporting/what-are-revenues
https://wn.com/What_Is_Revenue_Financial_Accounting
Professor AJ Kooti explains, What are Expenses in Accounting, as part of his financial accounting course series.
https://thebusinessprofessor.com/en_US/accounting-taxation-and-reporting-managerial-amp-financial-accounting-amp-reporting/what-are-revenues
- published: 16 May 2021
- views: 5766