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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

The finance function is usually responsible for which of the following processes?

Managing employee recruitment

Recording daily sales transactions

Auditing external financial statements

Budgeting and financial planning

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Verified step by step guidance

Understand the role of the finance function in an organization. The finance function is primarily responsible for managing financial resources, planning, and ensuring the organization's financial health.

Identify the processes listed in the problem and evaluate whether they align with the finance function's responsibilities. For example, managing employee recruitment is typically handled by the Human Resources department, not the finance function.

Consider the process of recording daily sales transactions. While this involves financial data, it is typically part of the accounting function rather than the broader finance function.

Examine the process of auditing external financial statements. This is usually performed by external auditors or the accounting department, not the finance function.

Recognize that budgeting and financial planning are core responsibilities of the finance function. These processes involve forecasting, allocating resources, and ensuring the organization meets its financial goals.