Prepayments and Accruals | Adjusting Entries

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Adjusting Entries are an essential part of the close process in Financial Accounting. This video explains what Adjusting Journal Entries are and how they fit into the big picture of bookkeeping. If you're using the Accrual Basis of Accounting then watching this is a must!

You'll see how Adjusting Entries are split into two main groups: Prepayments and Accruals. You'll also find out how these are broken down further into Prepaid Expenses, Deferred Revenue, Accrued Expenses and Accrued Revenue.

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 →    • Prepayments and Accruals | Adjusting ...  
▪ Prepaid Expenses →    • How Prepaid Expenses Work | Adjusting...  
▪ Deferred Revenue →    • Deferred Revenue Explained | Adjustin...  
▪ Accrued Expenses →    • Accrued Expenses Broken Down | Adjust...  
▪ Accrued Revenue →    • Accrued Revenue MADE EASY | Adjusting...  

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