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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Financial management involves decisions about which of the following?

Acquisition and allocation of funds within an organization

Auditing external financial statements

Preparation of tax returns for individuals

Recording daily business transactions

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Verified step by step guidance

Understand the scope of financial management: Financial management primarily deals with decisions related to acquiring and allocating funds within an organization to ensure efficient operations and long-term financial stability.

Differentiate financial management from auditing: Auditing external financial statements is a separate function focused on verifying the accuracy and compliance of financial records, not directly related to fund acquisition or allocation.

Distinguish financial management from tax preparation: Preparation of tax returns for individuals is a specialized area of taxation and personal finance, not part of organizational financial management.

Separate financial management from daily transaction recording: Recording daily business transactions is part of bookkeeping and accounting, which supports financial management but is not its primary focus.

Conclude that financial management involves acquisition and allocation of funds: Based on the analysis, financial management is concerned with strategic decisions about obtaining and utilizing financial resources effectively within an organization.