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Accrual Example: Salaries Payable (Updated 2016)
 
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Updated for 2016, this video explains the basic concept behind accrual-basis accounting using an example of an accrual journal entry for salaries payable.
Views: 49985 The Accounting Tutor
Accrued Expenses - Ch. 3 Video 5
 
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Adjustment for Accrued Expenses
Views: 112491 mattfisher64
Salaries Payable Adjusting Journal Entry
 
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This video is about the AJE required when payday is not the same as the end of the period.
Payroll Journal Entries
 
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Description
Views: 77135 Athens Tech Accounting
Accounting for Beginners #53 / Payroll Journal Entry / Payroll Taxes / Accounting Basics
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for Beginners #53 / Payroll Journal Entry / Payroll Taxes / Accounting Basics. We stayed on the topic of Payroll in this video. We wear the hat of Bookkeeper with the task of making a journal entry for Payroll. There will be 2 different journal entries involving cash leaving the business and Paying Wages Expense and Payroll Taxes . The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics. #Accounting #Exercise #CPA
Views: 8630 CPA Strength
9.3 Accrued Liabilities
 
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Accrued Liabilities
Views: 2692 Dee Amaradasa
Accounts Payable (Accrued Unpaid Expense) Journal Entry
 
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How to record accounts payable, which is an accrued expense (incurred expense) or an unpaid expense that is not yet paid, has to be allocated and matched to period its used (for goods or service used), accounts payabale (journal entries as T-accounts) is shown on a balance sheet template, cash as an asset, accounts payable as a liability and expense shown on the income statement, accounting template (debts and credits by account) is setup based on the accounting equation where (assets = liabilities + stockholders equity + net income), the template is useful to understand how record accounting journal entries on the balance sheet and income statement by Allen Mursau
Views: 19021 Allen Mursau
Accrued Liabilities
 
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Views: 218 Todd Jones
Current Liabilities Accounting (Compensated Absences, Employee Vacation, Sickness & Holiday Pay)
 
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Accounting for compensated absences as a current liability, compensated absences are where the company pays employees for paid time off for vacation, sickness & holidays, must accrue a liability for the cost of compensation for future absences if all the following conditions are met: (Accrue payable, record expense), 1-Obligation to receive compensation for future absences is for services already rendered, 2-Obligation relates to rights that vest or accumulate, 3-Payment of compensation is probable, 4-Amount can be reasonably estimated, example shows how to determine wages payable for compensated absences, start with beginning balance add accruals for the period, subtract amount paid equals the ending balance, record accrued liability as payable and recognize an accrued expense, when payment is made to the employee cash is reduced and accounts payable is reduced, detailedcalculations and accounting by Allen Mursau
Views: 12950 Allen Mursau
Accounts Payable vs. Accrued Expenses - Interview Question
 
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Accounts Payable vs. Accrued Expenses on the 3 Financial Statements: Why Does It Matter? By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" It's a common interview question! You may be asked about the differences between them, how changes are reflected on the 3 financial statements, and so on. And most Google search results on this topic are AWFUL and do not answer the actual question at all, or do so in a confusing way that misses the point (trust me, I looked). THE SHORT ANSWER: Accounts Payable (AP) and Accrued Expenses (AE) work in a VERY similar way... IF they both correspond to Operating Expense line items, or other items that appear directly on the Income Statement. However, AP is more likely to correspond to events such as the purchase of Inventory, which would NOT show up on the Income Statement initially, and so you're more likely to see different treatment with Accounts Payable (no Income Statement impact - just an Asset on the Balance Sheet increasing and AP on the Liabilities & Equity side increasing to balance the change). Both these items represent cases where we've INCURRED an expense but not actually paid for it in cash yet. Example 1: We get an invoice for a legal bill from a law firm we hired. They already performed the service, so we incurred the expense, but we haven't paid them in cash yet. Example 2: We pay rent at the beginning of each month. In between, that expense accrues because we use the building or office every day of the month... so it's not accurate just to view it as an expense on one day of the month, but rather an expense that gets accrued every single day and then paid in cash at the beginning of the month. Example 1 corresponds to Accounts Payable, because we typically use AP for items with specific invoices. Example 2 corresponds to Accrued Expenses, which we typically use for recurring, monthly/quarterly/weekly items WITHOUT specific invoices, such as rent, utilities, employees' wages, and so on. What Happens on the 3 Statements When AP or AE Change? IF they both correspond to COGS or Operating Expenses IN THE CURRENT PERIOD and therefore refer to actual expenses listed on the Income Statement: Let's use the example of AP or AE of $100 on the 3 statements: 1) Income Statement - Expenses (most likely OpEx) will increase by $100, reducing Pre-Tax Income by $100 and Net Income by $60 assuming a 40% tax rate. 2) Cash Flow Statement - Net Income is down by $60, but this expense we just recognized was non-cash, so we record the increase in AP or AE as a cash increase of $100. Our cash flow and ending cash at the bottom are up by $40. 3) Balance Sheet - Cash is up by $40 on the Assets side; on the L&E side, AP or AE is up by $100, but Retained Earnings is down by $60 due to the reduced Net Income, so both sides are up by $40. INTUITION: You've saved on taxes because you recorded an expense, took the tax deduction, and reduced your tax bill... but you haven't paid that expense in cash yet! It's all about the tax savings in this first step. Now, Step 2: What Happens When You Pay the AP or AE in Cash, For Real 1) No changes on the Income Statement - already recognized this as an expense! 2) Cash Flow Statement: Net Income is still down by $60... and now we REMOVE that adjusting entry for AP or AE, so cash no longer goes up by $100 from that. As a result, cash at the bottom is just down by $60. 3) Balance Sheet: Cash is now down by $60 rather than being up by $40, because we just paid that expense in cash. On the other side, AP or AE is now back to its old level and is no longer up by $100. Retained Earnings is still down by $60, so both sides are down by $60 and balance. BUT HERE'S THE IMPORTANT DIFFERENCE BETWEEN THEM: AE almost always correspond to Operating Expenses or other Income Statement expense items... but Accounts Payable often do not. EXAMPLE: Company buys $100 of Inventory on credit - supplier sends over the Inventory, "in good faith," and sends the company an invoice, which goes to its Accounts Payable account. In this case, there are NO CHANGES on the Income Statement because nothing happens there until this Inventory is turned into products and sold to customers! Instead, Inventory on the BS simply goes up by $100, and AP on the other side goes up by $100 to balance it. That scenario happens a lot with AP, but very-rarely-to-never with AE. Further Resources http://breakingintowallstreet.com/biws/3-statement-excel-model-interview-questions/
Adjusting Journal Entries (Accrual Type)
 
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This video explains the concept behind the accrual type of adjusting journal entries and illustrates the concept with several examples. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 64801 Edspira
Income Tax Expense vs. Income Tax Payable
 
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This video shows the difference between Income Tax Expense and Income Tax Payable. Income Tax Expense represents all income taxes accrued during a period, regardless of the period in which the income taxes will be paid. Income Tax Payable generally represents the income taxes that are currently due and must be paid to the government within the next year (thus, Income Tax Payable is typically a current liability on the balance sheet). This video provides an example to show how Income Tax Expense and Income Tax Payable can differ due to a temporary tax difference. The video then uses journal entries to show how Income Tax Expense and Income Tax Payable are recorded. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Views: 28626 Edspira
Adjusting Entries for Accrued Expenses (Financial Accounting Tutorial #19)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this financial accounting tutorial I begin explaining adjusting entries and how they are either revenue or expense adjustments, never involve cash and are prepared at the end of an accounting period (passage of time). This first adjustment example will include salaries expense and a payable being accrued. Creating an adjustment will allow us to comply with the matching principle by matching expenses with revenues earned for the period (month). ** Notepirate is privately owned and exclusive to notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001 Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 87541 Notepirate
How to record Accrued Expenses?
 
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If you know what accruals and expenses are? Do you know how to record them in the accounts? LEARN MORE https://www.youtube.com/theaccountingstudent?sub_confirmation=1 ENJOYED WATCHING? MORE CONTENT LIKE THIS BELOW PLAYLISTS Accruals and Prepayments | https://www.youtube.com/playlist?list=PL3cdk_SU0v32sIypW-MnpWfsrO7NLisvG The Accounting Concepts | https://www.youtube.com/playlist?list=PL3cdk_SU0v30CeJsBoQpDWUvyzZrq-Vcu The Accounting Equation | https://www.youtube.com/playlist?list=PL3cdk_SU0v322HgQ6FqYnUC-ilGgpDYpd How to record_____________in the Accounts | https://www.youtube.com/playlist?list=PL3cdk_SU0v30ks6Xcxrf-FWxBlWKLkD82 VIDEOS What are Accruals and Prepayments | https://youtu.be/1zRz-EjBfDA How to record Prepaid Expense | https://youtu.be/_IPJ2Skpvco How to record Accrued Revenue | https://youtu.be/OeIOOzrZRcc How to record Prepaid Revenue | https://youtu.be/YQln0suyC-Q Accrual vs Cash Accounting | https://youtu.be/GqFzPoftoQ4 What is Capital | https://www.youtube.com/watch?v=jAe4Rwfw2Wg What is an Asset | https://www.youtube.com/watch?v=5Kzpkv2bjoU What is a Liability | https://www.youtube.com/watch?v=RZkSY6J9ll8 CONNECT WITH US ON SOCIAL MEDIA Like us on Facebook | https://www.facebook.com/theaccountingstudent Tweet us on Twitter | https://twitter.com/theaccostudent Follow us on Google Plus | https://plus.google.com/u/0/105440586533082327728 CREDIT FOR BACKGROUND MUSIC Ben Fry Drums | https://www.youtube.com/channel/UCQfjnpDLuAzr0cnNgKTnhXwe
Accounting - Payroll Taxes and Liabilities - Severson
 
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See the below link for more resources, including as a list of all of my videos, practice exercises, Excel templates, and study notes. https://www.dropbox.com/s/09hdhag3zieyt08/Severson%20YouTube%20Videos.xlsx?dl=0 This video discusses the accounting for payroll taxes, including journal entries and concepts. This covers FICA, including Social Security and Medicare taxes. Furthermore, it covers Federal and State Unemployment Taxes (FUTA and SUTA.)
Views: 3311 Christopher Severson
Auditing Accrued Liabilities | Auditing and Attestation | CPA Exam
 
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Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/
Current Liabilities Accounting (Payroll Deductions, Employee Vs Employer Payables & Expense)
 
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Accounting for payroll deductions as employee related liabilities, common types of payroll deductions are taxes, insurance premiums, employee savings & union dues etc., If a company has not remitted in the amounts deducted to the proper authority at the end of the accounting period, it should recognize them as a Current Liability, Examples of governmental types of payroll withholding taxes, (1) Social Security Taxes (FICA): Report the amount of unremitted tax on the gross wages paid as a Current Liability & as an Operating Expense, (2) Unemployment Taxes (FUTA): Record the amount of accrued but unpaid employer contributions as an Operating Expense & as a Current Liability when preparing financial statements and (3) Income Tax Withholding (Federal & State): Tax laws require employers to withhold from each employees pay the applicable income tax due on those wages, example explains that these withholdings have to be broken down between (1) employee payroll deductions and (2) employer payroll taxes where current liability payable accounts have to be setup for both employee and employer with wage expense for employee payroll deductions and payroll tax expense for employer payroll deductions, detailed accounting by Allen Mursau
Views: 34601 Allen Mursau
Adjusting Entries: Salaries Payable
 
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Published on April 12, 2015 Downloads for YT: http://www.coeurbridge.com/ytdownloads/ In accrual accounting, there are many reasons that adjusting entries would have to occur. In this video, we explore why salaries payable adjustments can occur and how these adjustments are handled with debits and credits in journal entries. ========================================¬=== Julie Bonner Accounting Coach http://www.coeurbridge.com Facebook: http://www.Facebook.com/julierbonner LinkedIn: http://www.LinkedIn.com/in/drbonner/en Twitter: http://www.twitter.com/jrbonner10 ======================================= Adjusting Entries: Salaries Payable http://youtu.be/HKl8zUlgklI
Views: 2919 Julie Bonner
Accounting for Beginners #34 / Adjusting Entries / Journal Entries / Accrued Revenue
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for Beginners #34 / Adjusting Entries / Journal Entries / Accrued Revenue. I will be attempting to talk about Adjusting Entries in the next couple videos. This Videos Adjusting Entries will be focused on Accrued Revenues. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA
Views: 19024 CPA Strength
Accrued Vacation Pay
 
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To learn more about accrued vacation pay visit http://www.lawinfo.com/human-resources.html
Views: 3395 lawinfo
Reveue Recognition, Accrued Salaries MC
 
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Chapter 3 & 4
Views: 738 SusanCrosson
300 Adjusting Entry Wages Payable
 
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Adjusting entry for payroll or wages including effect on trial balance, accounting equation, and net income. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
Unit 4 - Activity 2: Salaries and Wages Accrual
 
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Recorded with http://screencast-o-matic.com
Views: 192 Stacey Keller
BAT C3 V3 part 2 Accrued Expenses (Salaries, Notes payable).mp4
 
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Table of Contents: 09:08 - Marker 09:16 - 10:42 - By now you should.... 10:58 - Thanks for Watching
Views: 534 Dianne Fitzpatrick
Payroll Journal Entries | Financial Accounting | CPA Exam FAR | Ch 11 P 2
 
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employee related liabilities, FICA taxes, FICA medicare, tax withholding, compensated absences, bonus, medicare taxes, FUTA, SUTA, CPA exam, accounting, payroll deductions, payroll taxes.
Chap 03 - Accrued Salaries (Handout) - 2nd Discussion
 
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The solution of this handout attempts to show the benefit from making reversing entries. Accrued salaries are used as the example. The handout is available on the class web site.
Views: 9123 oruaccounting
Vacation Accrual Workbook in Excel
 
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This video demonstrates how to use Microsoft Excel to make a vacation accrual spreadsheet to forecast vacation time for any time period desired.
Views: 12238 abraham morgan
Payroll- How to book it correctly in QuickBooks
 
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Get the template here: https://nerdenterprises.com/product/payroll-how-to-book-it-correctly-in-quickbooks/ Subscription Options: https://nerdenterprises.com/services/subscription-based-training/ One to One Training: https://nerdenterprises.com/services/one-to-one-training/ Get templates: https://nerdenterprises.com/resources-page/templates/
Views: 75522 Nerd Enterprises, Inc.
Do You Accrue for Payroll Deductions in Accounting? : Accounting & Finance
 
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Subscribe Now: http://www.youtube.com/subscription_center?add_user=ehowfinance Watch More: http://www.youtube.com/ehowfinance Whether or not you accrue for payroll deductions in accounting depends entirely on a few particular things. Find out if you accrue for payroll deductions in accounting with help from an accounting professional in this free video clip. Expert: Lori Greer Filmmaker: Randy Waldo Series Description: The world of accounting can be a complicated and confusing one, which is why it's always important to consult a professional in the event that you're unsure of a particular course of action. Get tips that will help you to better understand the wonderful and complex world of accounting with help from an accounting professional in this free video series.
Views: 241 ehowfinance
Accounting for Beginners #35 / Adjusting Entries / Journal Entries / Accrued Expense
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for Beginners #35 / Adjusting Entries / Journal Entries / Accrued Expense. I will be attempting to talk about Adjusting Entries in the next couple videos. This Videos Adjusting Entries will be focused on Accrued Expenses. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA
Views: 17650 CPA Strength
Reckon How-To: Accrue Leave
 
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Views: 2113 Reckon
Payroll Entries
 
04:25
Views: 6154 Cathy DeHart
Accounting - Unit 3 - Part 4: Accrued revenues
 
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Link to the worksheet prepared in the video: https://drive.google.com/open?id=0B5_I_rEHpOHZVFVGeDYtOEJLQUk This video series will discuss adjusting journal entries. Topics include: Prepaid expenses, amortization, accrued expenses, accrued revenues, and unearned revenues. This video and the attached worksheet were prepared by Tony Bell of Thompson Rivers University (TRU) - I encourage educators to freely use, edit and modify these videos and the attached worksheet - they are available under Creative Commons Licenses.
Views: 14201 Tony Bell
Example: Warranty Expense/Liability, Accrual/Cash Basis |Intermediate Accounting|CPA Exam FAR|Chp 13
 
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Guarantee and Warranty Costs A warranty (product guarantee) is a promise made by a seller to a buyer to make good on a deficiency of quantity, quality, or performance in a product. Manufacturers commonly use it as a sales promotion technique. Automakers, for instance, “hyped” their sales by extending their new-car warranty to seven years or 100,000 miles. For a specified period of time following the date of sale to the consumer, the manufacturer may promise to bear all or part of the cost of replacing defective parts, to perform any necessary repairs or servicing without charge, to refund the purchase price, or even to “double your money back.” Warranties and guarantees entail future costs. These additional costs, sometimes called “after costs” or “post-sale costs,” frequently are significant. Although the future cost is indefinite as to amount, due date, and even customer, the company has a performance obligation for which a liability should be recognized. The estimated amount of the liability includes all the costs that the company will incur after sale and delivery and that are incident to the correction of defects or deficiencies required under the warranty provisions. Warranty costs are a classic example of a loss contingency. Companies often provide one of two types of warranties to customers: 1.Warranty that the product meets agreed-upon specifications in the contract at the time the product is sold. This type of warranty is included in the sales price of a company's product and is often referred to as an assurance-type warranty. 2.Warranty that provides an additional service beyond the assurance-type warranty. This warranty is not included in the sales price of the product and is referred to as a service-type warranty. As a result, it is recorded as a separate performance obligation. Assurance-Type Warranty. Companies do not record a separate performance obligation for assurance-type warranties. This type of warranty is nothing more than a quality guarantee that the good or service is free from defects at the point of sale. These types of obligations should be expensed in the period the goods are provided or services performed. In addition, the company should record a warranty liability. The estimated amount of the liability includes all the costs that the company will incur in the future due to the correction of defects or deficiencies required under the warranty provisions. Illustration 13.15 provides an example of an assurance-type warranty. ASSURANCE-TYPE WARRANTY ILLUSTRATION 13.15 Accounting for an Assurance-Type Warranty Service-Type Warranty. A warranty is sometimes sold separately from the product. For example, when you purchase a television, you are entitled to an assurance-type warranty. You also will undoubtedly be offered an extended warranty on the product at an additional cost, referred to as a service-type warranty. In most cases, service-type warranties provide the customer a service beyond fixing defects that existed at the time of sale. Companies record a service-type warranty as a separate performance obligation. For example, in the case of the television, the seller recognizes the sale of the television with the assurance-type warranty separately from the sale of the service-type warranty. The sale of the service-type warranty is usually recorded in an Unearned Warranty Revenue account. Companies then recognize revenue on a straight-line basis over the period the service-type warranty is in effect. Companies only defer and amortize costs that vary with and are directly related to the sale of the contracts (mainly commissions). Companies expense employees' salaries and wages, advertising, and general and administrative expenses because these costs occur even if the company did not sell the service-type warranty.
Current Liabilities | Financial Accounting | CPA Exam FAR | Ch 11 P 1
 
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Current liabilities, liabilities, long term liabilities, nature of liabilities, operating cycle, accounts payable, notes payable, sales taxes payable, unearned revenues, accrued liabilities, accrued expense
Vacation Accrual Report Proposal
 
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Vacation Accrual Report Proposal
Views: 113 sclopp channel
300.10 Adjusting Entries Supplies, Unearned Revenue, and Wages Payable-Accounting instructions
 
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Adjusting entries are need at the end of an accounting period. Adjusting entries really help understand accounting accrual principles. Adjustments can be difficult at first but the accounting principles makes since as we continue to record these adjusting entries. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
How to calculate Vacation Entitlement in Excel
 
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How to calculate Vacation Entitlement in Excel Calculating vacation entitlement using Excel, with the end date function, the today function, and the month function. For more help visit my website http://www.easyexcelanswers.com or email me at [email protected] I can customize this Excel application for your exact needs for a fixed price of $50. The work is normally returned within 24hrs. I am able to provide online help on your computer at a reasonable rate. MY videos are all created on Camtasia. http://send.onenetworkdirect.net/z/582993/CD237560/ Follow me on Facebook https://www.facebook.com/easyexcel.answers
Views: 22092 Barb Henderson
Estimated Liabilities | Financial Accounting | CPA Exam FAR | Ch 11 P 3
 
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warranty expense, estimated liability, premium liability, coupon liability, current liability, accrued liability, accrued expenses, current assets, warranty expense, Asset retirement obligation, payroll expenses, payroll tax, payroll entries, FICA Social security, FICA medicare, FUTA, SUTA, premium liability, current liability, accrued liability, accrued expenses, current assets, warranty expense, Asset retirement obligation, payroll expenses
Odoo Experience 2018 - Power up Your HR & Employee Management with Odoo
 
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All organizations require basic employee management, be it timesheets and payroll, or accrued leave and appraisals. The words ‘employee’ and ‘HR’ instantly conjure up imagery of disgruntled office workers and stacks of paper. But who wants that? And, better yet, who wants “basic” employee management? Answer: No one. So in this talk, we’ll walk through how to power up these tasks and take HR in Odoo to the next level. This talk is for those in organizations large and small that are interested in bringing their employee management and HR operations into Odoo. Whether you’ve just hired your first employee or manage hundreds on a daily basis, there’s something for everyone. We’ll start with a brief overview of the stock functionality available in the Employees, Leaves and Expenses applications in a live-demo format. We’ll then move into a review of custom, open-sourced modules that Hibou has developed to extend this functionality. These modules include the following features: - Set up leave accrual by individual employee or through the use of employee tags. - Create a leave allocation by employee tag, then use that tag to grant the newly created leave to as many employees as desired. - Define a default project for each department, which provides the ability to filter and group projects by department for reporting and planning purposes. - Link expenses to sales opportunities, which can then be used for reporting. - Quickly view expenses related to a sales opportunity or a sales order with new Expenses smart buttons. After a brief review of the extended functionality the modules provide, we’ll wrap up with a walkthrough of a few real-life scenarios. This Talk was delivered by Jared Kipe, Hibou Corp.
Views: 334 Odoo
Accounting for Warranty Expense
 
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This video explains how to accrue warranty expense using the accrual method. It also illustrates how to apply the accrual method with an example, and highlights the differences between the cash basis and accrual basis for warranty accounting. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.EducationUnlocked.org/ To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 31286 Edspira
Accounting Tutorial Accrued Expenses & Accrued Liabilities Training Lesson 8.2
 
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FREE Course! Click: https://www.teachucomp.com/free Learn about accrued expenses and accrued liabilities in accounting at www.teachUcomp.com. A clip from Mastering Accounting Made Easy. http://www.teachucomp.com/free - the most comprehensive Introductory Accounting tutorial available. Visit us today!
Views: 6335 TeachUComp
How to Set up Sick and Vacation Time in QuickBooks
 
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How to set up sick and vacation time for your employees in QuickBooks for payroll.
Views: 1003 RPPC Inc
Salary Advance Adjustment Entry, Accounting principles, salary entry
 
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How to adjust salary advance, Salary entry posting, How to post salary advance entry in tally, accounting procedure, accounting principles, Salary advance adjustment entry against salary, Salary entry posting in tally, Tally ERP 9 material
Views: 139668 Wisdom Tally