Accrual Accounting Overview | How Accrual Accounting works? | Part 1

This video explains an overview of the Accrual Basis of Accounting and why it is the best accounting method to measure a Company's financial performance during a period. This also provides a quick comparison of Accrual versus the Cash Basis accounting which might be helpful in understanding why such difference is important to distinguish. Watch Income and Expenses:    • Elements of Financial Statement | Income a...   Timestamps: 00:00 Introduction 00:31 What is the Accrual Basis? 01:02 Impact on Income and Expenses 01:38 When is an Expense INCURRED? 02:11 When is an Income EARNED? 02:30 The Matching Principle 03:07 Measuring economic performance 03:39 Accrual versus Cash Basis: An Example 04:40 The Statement of Cashflows 05:05 What's next for you? 05:18 Outro --------------------------------------------------------------------------------------------------- Every week we will release Accounting Lectures starting off with the ACCOUNTING Process and then gradually advancing to more advanced Financial Reporting topics. So It's like a course, except that this is FREE! Subscribe to our channel for more Free Accounting Lessons DO YOU.. ► have ZERO experience but you want to pursue Accounting Jobs; ► want to be a HERO on your Accountancy Journey; ► want to level up your career as an Accountant; ► want to supplement your learning of the Accounting Concepts for your ACCA, CPA, and other accounting exams; ► need Technical Discussions and Exercises ► have curiosity about Other Practical Application of the accounting standards discussed by an experienced professional We hear you and got your accounting problems covered! If you have any questions or want to request a lesson... just leave a comment and We will answer them as best as possible! Thanks so much! AccountingZeroToHero #IncomeAndExpenses #AccountingZeroToHero