Outstanding Expense - Adjusting Entry - By Saheb Academy

Here I have explained the concept of Outstanding Expense and it's accounting treatment in Profit and Loss Account and Balance Sheet in a simple way.

Outstanding Expense is also known as Accrued Expense. ( Accrual )

I have shown how to pass Adjusting Entry and Reversing Entry with complete logical understanding.

⏱TIMESTAMPS
00:00 - Intro
01:05 - Recap of Previous Video
04:14 - Open Transactions
09:10 - Outstanding Expense
17:28 - Practical Example with Financial Statements
38:05 - Format of EXPENSE A/C with Outstanding Expense & Prepaid Expense

Previous Video : Adjusting Entries Concept
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