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

Welcome!

Financial Accounting

1. Introduction to Accounting

Welcome!

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Multiple Choice

As a financial manager working in GFEBS (General Fund Enterprise Business System), which of the following is your primary responsibility?

Managing the organization's marketing campaigns.

Overseeing the physical security of the organization's facilities.

Developing new software applications for the organization.

Ensuring accurate recording and reporting of financial transactions in compliance with federal regulations.

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Verified step by step guidance

Understand the role of a financial manager in GFEBS (General Fund Enterprise Business System). GFEBS is a financial management system used by the U.S. Army to ensure compliance with federal regulations and accurate financial reporting.

Recognize that the primary responsibility of a financial manager in GFEBS is related to financial accounting tasks, such as recording and reporting financial transactions accurately.

Eliminate options that are unrelated to financial accounting, such as managing marketing campaigns, overseeing physical security, or developing software applications. These tasks fall outside the scope of financial accounting responsibilities.

Focus on the importance of compliance with federal regulations. Financial managers in GFEBS must ensure that all financial transactions adhere to these regulations to maintain transparency and accountability.

Conclude that the correct responsibility is ensuring accurate recording and reporting of financial transactions in compliance with federal regulations, as this aligns with the core functions of financial accounting within GFEBS.