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 payment frequency is generally most effective for building up your savings over time?

Making a single large deposit once every few years

Saving only at the end of the year

Making automatic deposits every time you receive a paycheck (e.g., biweekly or monthly)

Depositing money into savings only when you have extra funds

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Verified step by step guidance

Understand the concept of payment frequency and its impact on savings growth. Regular deposits, such as biweekly or monthly, leverage consistency and compound interest over time.

Recognize that making automatic deposits every time you receive a paycheck ensures a disciplined approach to saving, reducing the temptation to spend the money elsewhere.

Compare the effectiveness of different payment frequencies: infrequent large deposits may not benefit from compounding as much as regular smaller deposits, and saving only at the end of the year or when extra funds are available can lead to inconsistent savings habits.

Consider the role of compound interest in savings growth. Regular deposits allow interest to accumulate on both the principal and previously earned interest, maximizing the growth potential of your savings.

Evaluate the psychological benefits of automatic deposits. They create a 'set it and forget it' system, making saving a priority and reducing the effort required to build up savings over time.