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

The knowledge, know-how, experience, or education that an employee possesses is called:

Human capital

Intellectual property

Goodwill

Physical capital

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Understand the concept of 'human capital' in Financial Accounting. It refers to the knowledge, skills, experience, and education that employees bring to an organization, which contributes to its productivity and value.

Differentiate 'human capital' from other terms provided in the options: 'intellectual property,' 'goodwill,' and 'physical capital.'

Recognize that 'intellectual property' refers to intangible assets like patents, trademarks, and copyrights, which are legally protected creations of the mind.

Understand that 'goodwill' is an intangible asset that arises when a company acquires another business for more than the fair value of its net assets, reflecting brand reputation, customer loyalty, etc.

Identify 'physical capital' as tangible assets like machinery, buildings, and equipment used in production, which is distinct from the intangible nature of 'human capital.'