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Table of Contents
Table of Contents
Accrual accounting reveals the true financial health of a business by recording revenues and expenses when they are earned or incurred, not just when cash changes hands.
What You Will Learn
- 1 Learn the core principles of accrual accounting and its difference from cash basis.
- 2 Understand revenue recognition under ASC 606 and IFRS 15.
- 3 Apply matching principle to record expenses in the correct period.
- 4 Analyze adjusting entries for prepayments and accruals.
- 5 Implement deferred revenue and accrued revenue accounting.
- 6 Evaluate accounts receivable and allowance for doubtful accounts.
- 7 Construct fixed asset accounting including depreciation and impairment.
- 8 Assess inventory valuation methods (FIFO, LIFO, weighted average) under accrual.
- 9 Interpret financial statements prepared under accrual accounting.
- 10 Synthesize accrual adjustments for comprehensive financial reporting.
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Accrual Accounting Methods