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Ch. 3 - Accrual Accounting ConceptsWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Accounting
Ch. 2 - Transaction Analysis
Ch. 3 - Accrual Accounting Concepts
Ch. 4 - Merchandising Operations
Ch. 5 - Inventory
Ch. 6 - Internal Controls and Reporting Cash
Ch. 7 - Receivables and Investments
Ch. 8 - Long Lived Assets
Ch. 9 - Current Liabilities
Ch. 10 - Time Value of Money
Ch. 11 - Long Term Liabilities
Ch. 12 - Stockholders' Equity
Ch. 13 - Statement of Cash Flows
Ch. 14 - Financial Statement Analysis
Ch. 15 - GAAP vs IFRS
Sections
Accrual Accounting vs. Cash Basis Accounting
Revenue Recognition and Expense Recognition
Introduction to Adjusting Journal Entries and Prepaid Expenses
Adjusting Entries: Supplies
Adjusting Entries: Unearned Revenue
Adjusting Entries: Accrued Expenses
Adjusting Entries: Accrued Revenues
Adjusting Entries: Depreciation
Summary of Adjusting Entries
Unadjusted vs Adjusted Trial Balance
Closing Entries
Post-Closing Trial Balance
Learn
Next SectionRevenue Recognition and Expense Recognition
Accrual Accounting is required by GAAP and is the main focus of this course. Cash Basis Accounting focuses only on cash transactions.

Concept #1: Accrual Accounting

Concept #2: Cash Basis Accounting

Next SectionRevenue Recognition and Expense Recognition