Video

  • 38 minutes

Cash vs. Accrual Method

 
Cash vs. accrual accounting – first goods and services are provided for a fee. Then you match that with the cost that’s used to provide those goods and services. That is called the accrual basis of accounting. There are two bases – cash and accrual. In most cases accrual basis is used so you can record transactions as they occur. Revenue when it is earned, when the goods and services are provided and you have earned the right to that revenue, needs to be matched with the cost that has occurred. With cash basis revenue isn’t recorded until the cash is received and expenses aren’t recorded until cash is paid. Most companies use the accrual basis, however some smaller companies use cash basis.

In this 37-minute video our speaker, Carl L. Young, MBA, also reviews ratio categories including profitability, efficiency, liquidity, solvency and cash.

Carl L. Young, MBA is Mr. Simplicity. He is an author, and former Chief Financial Officer (CFO) of a $275M high growth company; a business owner (CEO) of C Young Consulting LLC; a consultant; a business coach; a passionate, and entertaining speaker and trainer; a scholar in the Gersen Lehrman Council of Experts; and a member of the Standard and Poors Society of Industry Leaders. Mr. Young is a highly trained accountant with more than 25 years of speaking and training experience. He has presented seminars both nationally and internationally on finance, accounting, payroll and inventory.

Runtime: 37 minutes

Faculty

Carl L. Young, MBA

Carl L. Young, MBA

C Young Consulting LLC

Agenda

Faculty

Carl L. Young, MBA

Carl L. Young, MBA

C Young Consulting LLC

  • Mr. Simplicity
  • Author, former Chief Financial Officer (CFO) of a $275M high-growth company; business owner (CEO) of C Young Consulting LLC; consultant; business coach, passionate, and entertaining speaker and trainer; scholar in the Gersen Lehrman Council of Experts and member of the Standard and Poors Society of Industry Leaders
  • Highly trained accountant with more than 25 years of speaking and training experience
  • Presented seminars both nationally and internationally on finance, accounting, payroll and inventory
  • His real-world experience was obtained in the years spent in a high-growth company that grew from $10M to $275M in revenue
  • Started as chief accountant and rose through the ranks to Chief Financial Officer (CFO)
  • Former business owner (CEO) of a manufacturing firm
  • A turnaround consultant and coach, specializing in organization, management, business processes, internal control, and accounting processes, and systems
  • Currently specializes in webinars/seminars on-site customer-specified training and business coaching
  • Has developed several webinars under the banner of Webinars Worth Watching; his website is www.CYoungConsulting.com
  • Wrote Carl Young’s Rules of the Business Game, based on his 25 years of experience in senior-level finance, accounting, and business management positions
  • Also wrote Handbook-Small Business Management Made Simple and several Mini Books: Finance & Accounting Made Simple, People Pleasing vs. Pencil Pushing, Rules & Tools for Thriving in Chaotic Times

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