Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Struggling with Financial Accounting?

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Multiple Choice

How can a business's marketers use financial accounting data to make key decisions?

By determining the legal structure of the business.

By preparing employee payroll schedules.

By setting the company's tax rates for the upcoming fiscal year.

By analyzing sales trends to identify profitable products and allocate marketing resources effectively.

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Verified step by step guidance

Understand the role of financial accounting data in decision-making: Financial accounting provides detailed records of a company's financial transactions, including sales revenue, expenses, and profitability. Marketers can use this data to analyze trends and make informed decisions.

Focus on sales trends: Marketers should examine historical sales data to identify which products or services are generating the most revenue. This involves reviewing income statements and sales reports to pinpoint high-performing items.

Evaluate profitability: Use financial accounting data to calculate the profitability of different products or services. This can be done by analyzing the cost of goods sold (COGS) and gross profit margins for each product category.

Allocate marketing resources: Based on the analysis of sales trends and profitability, marketers can decide where to focus their efforts and budget. For example, they might allocate more resources to promoting high-margin products or invest in campaigns targeting underperforming but promising items.

Monitor and adjust strategies: Continuously review updated financial accounting data to track the effectiveness of marketing campaigns and make adjustments as needed. This ensures that resources are being used efficiently and goals are being met.