Table of contents

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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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Multiple Choice

To gain an understanding of your personal finances, you should know:

the current stock prices of major corporations

the tax rates in other countries

the financial statements of unrelated businesses

your sources of income and expenses

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Verified step by step guidance

Understand the concept of personal finances: Personal finances involve managing your income, expenses, savings, and investments to achieve financial stability and goals.

Identify your sources of income: This includes all the money you earn, such as salaries, wages, dividends, rental income, or any other form of revenue.

Track your expenses: Categorize and record all your expenditures, such as rent, utilities, groceries, transportation, and discretionary spending.

Analyze the relationship between income and expenses: Compare your total income to your total expenses to determine if you are operating within a budget or overspending.

Use this information to create a budget: Allocate your income to cover necessary expenses, savings, and investments, ensuring financial health and planning for future goals.