Accrual Accounting PREMIUM
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Learning SummaryDescription:
This module explains accrual accounting and how it differs from cash basis accounting. It discusses the nature of accruals and how these are used to record common business transactions. It also explains the importance of accrual accounting in the preparation of financial statement in accordance with generally accepted accounting principles.
Prerequisites:
Who should complete this module:
Managers, supervisors, entrepreneurs, and professionals in any discipline who would like to increase their financial literacy; educators and students in business and accounting.
Learning Objectives:
In this module, you will learn to:
1. Define accrual accounting and how it is used to record business transaction.
2. Explain what is an accrual and illustrate how it works.
3. Compare how cash basis accounting differs from accrual accounting.
4. Explain how you affect the accrual process.
5. Discuss the importance of accrual accounting for financial reporting purposes.
1. Define accrual accounting and how it is used to record business transaction.
2. Explain what is an accrual and illustrate how it works.
3. Compare how cash basis accounting differs from accrual accounting.
4. Explain how you affect the accrual process.
5. Discuss the importance of accrual accounting for financial reporting purposes.
Competencies Acquired:
How to apply accrual accounting concepts to everyday business situations.
Program Level:
Basic
Duration of Video:
7:02
CPE Credit:
0.5
Delivery Method:
Self-study
Field of Study:
Accounting
Additional Info:
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Last Revision Date:
31 Oct 2018
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