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

3. Accrual Accounting Concepts

Introduction to Adjusting Journal Entries and Prepaid Expenses

Financial Accounting

3. Accrual Accounting Concepts

Introduction to Adjusting Journal Entries and Prepaid Expenses

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Multiple Choice

The primary goal of the financial manager is to:

Increase the company's market share

Minimize the company's tax liability

Maximize the value of the firm for its shareholders

Ensure all debts are paid as soon as possible

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Verified step by step guidance

Understand the role of a financial manager: The financial manager is responsible for making decisions that align with the company's financial goals and objectives, ensuring the firm's financial health and sustainability.

Clarify the primary goal: The primary goal of the financial manager is to maximize the value of the firm for its shareholders. This involves increasing shareholder wealth by making decisions that enhance the firm's profitability and long-term growth.

Evaluate other options: While increasing market share, minimizing tax liability, and ensuring debts are paid are important, they are secondary objectives. These actions contribute to the firm's overall value but are not the primary focus.

Connect shareholder value to firm performance: Shareholder value is directly tied to the firm's performance, including its stock price, profitability, and ability to generate returns. The financial manager must prioritize strategies that improve these metrics.

Summarize the goal: The financial manager's decisions should aim to maximize the firm's value for its shareholders, as this is the overarching objective that encompasses other financial considerations.