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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Multiple Choice

After you have used part of your emergency fund, what should your first financial goal be?

Take out a new loan

Replenish your emergency fund to its original balance

Increase discretionary spending

Invest in high-risk stocks

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Verified step by step guidance

Understand the purpose of an emergency fund: It is a financial safety net designed to cover unexpected expenses or financial emergencies, such as medical bills, car repairs, or job loss.

Evaluate the importance of replenishing the emergency fund: Maintaining a fully funded emergency fund ensures financial stability and reduces the need to rely on loans or credit cards during emergencies.

Prioritize financial goals: After using part of your emergency fund, your first financial goal should be to replenish it to its original balance before considering other financial actions like discretionary spending or high-risk investments.

Avoid taking out new loans: Loans can lead to additional financial strain due to interest payments and debt obligations, which can compromise your financial stability.

Understand the risks of high-risk investments: Investing in high-risk stocks is not advisable until you have a stable financial foundation, including a replenished emergency fund, as these investments can lead to significant losses.