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

14. Financial Statement Analysis

Introduction to Ratios

Financial Accounting

14. Financial Statement Analysis

Introduction to Ratios

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Multiple Choice

All of the following are standards used in financial statement analysis for comparisons EXCEPT:

Competitor benchmarks

Personal opinions of management

Industry averages

Past performance of the company

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Verified step by step guidance

Understand the concept of financial statement analysis: It involves evaluating a company's financial data to assess its performance, financial health, and trends over time.

Identify the common standards used in financial statement analysis: These include competitor benchmarks, industry averages, and past performance of the company. These standards provide objective and comparable metrics for analysis.

Recognize that personal opinions of management are not considered a standard for financial statement analysis: This is because they are subjective and lack the objectivity required for reliable comparisons.

Compare the listed options to the standards used in financial statement analysis: Competitor benchmarks, industry averages, and past performance are all valid standards, while personal opinions of management are not.

Conclude that the correct answer is 'Personal opinions of management,' as it does not align with the objective and standardized methods used in financial statement analysis.