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Financial Accounting 101: Accruals and Deferrals - Accrual Accounting - Made Easy
3:26
YouTubeMV Learning Systems
Financial Accounting 101: Accruals and Deferrals - Accrual Accounting - Made Easy
This is the lesson that helped me to understand deferrals and accruals. Think of Deferrals as ‘Dollars before Action’ and Accruals as ‘Action before Dollars.’ Deferred Expense -- Asset: Prepaid Expense Think of this as an expense where we paid Dollars before the Action of incurring the expense. Our vendors owe us, this is an asset ...
100.1K viewsApr 15, 2020
Accrual Accounting Basics
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Accrued Expenses Broken Down | Adjusting Entries
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