Mastering Accounts Payable: Basics of Cash vs. Accrual Accounting.
If you are new to the profession or a business owner trying to do your own accounting, nothing is more confusing than figuring out when something needs to be entered into the accounting records. While cash basis tends to be straightforward, accrual basis accounting can feel like a whole new world.
In this course, we will explore basic entries pertaining to accounts payable. We will discuss accounting for timing differences between cash and accrual basis, as well as how accounts payable is handled differently for tax purposes. Through practical examples, we will help you become more comfortable with the ins and outs of accounts payable so you can be sure your books are in great shape.
Topic Areas
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Who should attend?
Bookkeepers and practitioners new to the accounting profession, as well as business owners who want to keep their own books.
CPA, CFP, CLU, CPCU, MST, MBA
David Peters is the Founder and Owner of Peters Professional Education in Richmond, VA. He is registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He brings over 20 years of experience in financial services, including three years in the hedge fund industry and six years in insurance. David was the first Chief Financial Officer of Compare.com, where he served for more than three years. He holds four master’s degrees, contributes frequently to professional publications, and is a nationally recognized CPE instructor and discussion leader for Surgent seminars and a former instructor for Don Farmer. David received the AICPA Outstanding Facilitator Award in 2021, 2023, and 2024 as well as Surgent's Outstanding Discussion Leader awards in 2019 and 2022. He also co-authored the Virginia CPA Ethics course in 2018, 2019, and 2020, which is a requirement for all CPAs licensed in Virginia. Through Peters Professional Education, David is the author and instructor for over 125 recorded on-demand CPE courses and leads private trainings, in-person tax seminars, and quarterly live tax update webinars. His areas of instruction include accounting, finance, insurance, financial planning, and ethics, and he regularly teaches professionals across the United States.
