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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

A company's values relate to such things as:

The depreciation method used for fixed assets

The amount of inventory held at year-end

Ethical standards and principles guiding employee behavior

The calculation of net income for tax purposes

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Verified step by step guidance

Understand the context of the question: The problem is asking about the company's values, which are related to ethical standards and principles guiding employee behavior, rather than specific accounting methods or calculations.

Clarify the distinction between accounting methods (e.g., depreciation methods, inventory valuation) and ethical standards. Accounting methods are technical choices, while values reflect the company's ethical framework and principles.

Recognize that ethical standards influence how employees approach their work, including adherence to laws, transparency, and integrity in financial reporting.

Consider how ethical standards impact financial accounting practices, such as ensuring accurate reporting, avoiding manipulation of net income for tax purposes, and maintaining trust with stakeholders.

Conclude that the company's values are foundational to its ethical behavior and decision-making, which indirectly affects accounting practices but is not limited to specific technical methods or calculations.