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

Which of the following best explains how current events can impact personal financial decisions?

Current events only affect government budgets and do not impact individual financial choices.

Current events have no effect on personal financial decisions because financial planning is always long-term.

Current events can influence interest rates, stock prices, and job security, affecting how individuals manage their finances.

Current events are only relevant to large corporations and not to personal finance.

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Verified step by step guidance

Step 1: Understand the concept of personal financial decisions. Personal financial decisions involve managing income, expenses, savings, investments, and debt to achieve financial goals.

Step 2: Recognize the role of current events in financial decision-making. Current events, such as economic changes, political developments, or global crises, can directly impact financial markets, interest rates, and employment conditions.

Step 3: Analyze how interest rates are influenced by current events. For example, central banks may adjust interest rates in response to economic conditions, which can affect borrowing costs and savings returns.

Step 4: Examine the impact of current events on stock prices. Events like corporate earnings reports, geopolitical tensions, or technological advancements can cause fluctuations in stock prices, influencing investment decisions.

Step 5: Consider how job security is affected by current events. Economic downturns or industry-specific changes can lead to layoffs or reduced job opportunities, prompting individuals to reassess their financial plans and priorities.