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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

The difference between a company's business model and a company's strategy is that:

A business model focuses solely on marketing, whereas a strategy focuses only on financial reporting.

A business model is concerned with short-term tactics, while a strategy is only about long-term planning.

A business model describes how a company creates, delivers, and captures value, while a strategy outlines how the company will compete and achieve its goals within its chosen market.

A business model and a strategy are interchangeable terms that mean the same thing.

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Verified step by step guidance

Understand the concept of a business model: A business model describes how a company creates, delivers, and captures value. It focuses on the operational and structural aspects of the business, such as the value proposition, customer segments, revenue streams, and cost structure.

Understand the concept of a strategy: A strategy outlines how a company will compete and achieve its goals within its chosen market. It involves long-term planning and decision-making to gain a competitive advantage and meet organizational objectives.

Differentiate between the two concepts: A business model is more about the 'what' and 'how' of the business operations, while a strategy is about the 'why' and 'where' the company is heading in terms of competition and market positioning.

Analyze the incorrect options: The first option incorrectly states that a business model focuses solely on marketing, and a strategy focuses only on financial reporting. The second option incorrectly states that a business model is concerned with short-term tactics, while a strategy is only about long-term planning. The fourth option incorrectly states that a business model and a strategy are interchangeable terms.

Conclude with the correct answer: The correct distinction is that a business model describes how a company creates, delivers, and captures value, while a strategy outlines how the company will compete and achieve its goals within its chosen market.