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This video from Commerce Specialist is about the concept of Accruals and Prepayments. Detailed explanation is given on What are Accruals and Prepayments, Why do we have Accruals and Prepayments, How to record Accruals and Prepayments, T accounts for recording Accruals and Prepayments, Unearned Revenues, Unearned Incomes, Income Received in advance, The charge to Profit/Loss, Entries for payment of expenses and entry for receipts of revenues.
This tutorial/lecture video is very relevant and useful for students of B. Com, O Levels, A Levels, BBA, MBA, CA, ACCA, CMA, CIMA, CIA and CPA.

About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, is a Fellow of member of HEA UK, holds Certification in International Auditing from ACCAUK, member of IFA UK and IPA Australia, also holds a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.


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