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

After you have used part of your emergency fund, what should your first financial goal be?

Invest in high-risk stocks

Increase discretionary spending

Take out a new loan

Replenish your emergency fund to its original balance

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Verified step by step guidance

Understand the purpose of an emergency fund: It is a financial safety net designed to cover unexpected expenses, such as medical emergencies, car repairs, or job loss. Maintaining this fund ensures financial stability during unforeseen circumstances.

Evaluate the importance of replenishing the emergency fund: After using part of the fund, it is crucial to restore it to its original balance to maintain preparedness for future emergencies.

Avoid high-risk financial decisions: Investing in high-risk stocks or increasing discretionary spending can jeopardize financial stability, especially when the emergency fund is not fully replenished.

Recognize the risks of taking out a new loan: Loans often come with interest and repayment obligations, which can add financial strain. Prioritizing the emergency fund helps avoid unnecessary debt.

Set a clear financial goal: Focus on replenishing the emergency fund to its original balance before pursuing other financial objectives. This ensures a solid foundation for managing future financial challenges.