Скачать или смотреть Outstanding Expense, Prepaid Expense, Accrued & Advance Income

Outstanding Expense, Prepaid Expense, Accrued & Advance Income explained in 90 seconds! #shorts #yt
Do you get confused between Outstanding Expense, Prepaid Expense, Accrued Income and Advance/Unearned Income? This reel is a complete guide for Class 11 and Class 12 Accountancy students who want to understand these important basics of accounts in the simplest way.

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50 Days Accounting Challenge - Basics
   • 50 Days Accounting Challenge - Basics  

Outstanding Expense means expense of the current period which is not yet paid. Prepaid Expense means advance payment made for future period’s benefit. Accrued Income is income that is already earned but not yet received. Advance or Unearned Income is income received in advance before the actual work is done.

Think of it this way: sometimes kharcha ho jata hai par paisa abhi dena baaki hota hai, kabhi paisa pehle de dete ho par use future me consume karte ho. Kabhi kaam ho gaya par paisa abhi aana hai, kabhi paisa pehle aa gaya par kaam abhi baaki hai. That is the essence of these four concepts.

In this reel, I have explained all four with a simple coaching centre story example. These concepts are very important for Class 11 Accountancy, Class 12 Accounts, CA Foundation and all commerce students. If you are preparing for exams, watch till the end for a quick recap that will help you remember for a lifetime.

Save this reel for revision and share with your friends. Accounting becomes easy when you connect it with real life.

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Disclaimer: The content shared on this channel is purely for educational purposes. As a Chartered Accountant, I strive to provide accurate and insightful information related to GST, income tax, accounting, and tax planning. However, please note that the content should not be considered as professional advice or a substitute for personalized consultation.

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