Day 32: Intro to Chapter 3

Introduction to chapter 3.

- Revenue Recognition
- Matching Principle
- Accrual  Basis Accounting v. Cash Basis Accounting
- Nature of the Adjusting Process -- Accruals and Deferrals

• Preview chapter 3 by watching the videos online

• #1 Accrual and Cash Basis Accounting (4:02)
• #2 Prepaid Expenses (5:59)
• #3 Depreciation (6:53)
• #4 Unearned Revenues (5:00)
• #5 Accrued Expenses (4:16)
• #6 Accrued Revenue (3:45)

• Adjustments and Deferrals (14:47)
• Adjustments and Accruals (12:46)