ACCT 201 at Towson University


1 Cash vs. Accrual Accounting
Some businesses operate on the Cash Basis of accounting, but most are on the Accrual Basis. Cash is super simple, Accrual gets a little trickier.
2 Expense Recognition
If you pay for something today, should we recognize it as an expense? Well, it depends.
3 Accruals and Deferrals
What happens when you get cash before you do any work? Or if you do work before you get any cash? That's what we're talking about here!
4 What is an Adjusting Entry?
What even is an Adjusting Entry? Why do we have to make them?
5 Adjusting Entry: Supplies
An adjusting entry example using Supplies as the account of interest.
6 Adjusting Entry: Wages
An adjusting entry example using Wage Expense and Wages Payable.
7 Adjusting Entry: Unearned Revenue
An adjusting entry example using Unearned Revenue as our medium.
8 Adjusting Entry: Interest
An adjusting entry example using Interest as the account we care about.
9 Contra-accounts
A brief primer on what contra-accounts are, and what they aren't.
10 Depreciation
Our first look at Depreciation. This time, we're just going to look at straight-line depreciation. There's much more to come, but we'll save that for later.
11 The Closing Process
The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.
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