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

Business finance is broadly concerned with which of the following?

Acquisition and management of funds for business operations

Recording daily transactions in the general ledger

Preparation of tax returns for individuals

Auditing the financial statements of non-profit organizations

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Verified step by step guidance

Understand the scope of business finance: Business finance primarily deals with the acquisition, allocation, and management of funds to ensure smooth business operations and growth.

Eliminate options that are not directly related to business finance: For example, 'Recording daily transactions in the general ledger' is more related to bookkeeping, which is a subset of accounting, not business finance.

Consider the option 'Preparation of tax returns for individuals': This is related to personal finance and tax accounting, not business finance, which focuses on organizational financial management.

Evaluate the option 'Auditing the financial statements of non-profit organizations': Auditing is a specialized area of accounting and does not fall under the broad scope of business finance.

Select the correct answer: 'Acquisition and management of funds for business operations' aligns with the primary focus of business finance, which is ensuring that a business has the necessary resources to operate effectively and efficiently.