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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

Which of the following questions is NOT addressed by the statement of cash flows?

What were the major sources and uses of cash during the period?

What is the company's net income for the period?

How much cash was used for investing activities during the period?

How much cash was generated from operating activities during the period?

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Verified step by step guidance

Step 1: Understand the purpose of the statement of cash flows. The statement of cash flows provides information about the cash inflows and outflows of a company during a specific period, categorized into operating, investing, and financing activities.

Step 2: Analyze the questions provided in the problem. Identify which questions are directly related to the cash flow categories (operating, investing, and financing activities).

Step 3: Recognize that the statement of cash flows does not address net income. Net income is reported on the income statement, not the statement of cash flows. The statement of cash flows focuses on cash transactions rather than accrual-based accounting measures like net income.

Step 4: Compare the remaining questions to the purpose of the statement of cash flows. Questions about major sources and uses of cash, cash used for investing activities, and cash generated from operating activities are all directly addressed by the statement of cash flows.

Step 5: Conclude that the question 'What is the company's net income for the period?' is NOT addressed by the statement of cash flows, as it pertains to the income statement rather than cash flow information.