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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

How is strategy tied to a company's vision and mission?

Strategy replaces the need for a vision and mission by focusing only on short-term goals.

Strategy only addresses financial objectives and does not consider the company's vision or mission.

Strategy is unrelated to the vision and mission and is developed independently by each department.

Strategy outlines the specific actions and plans a company will use to achieve its vision and mission.

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Verified step by step guidance

Understand the concept of a company's vision and mission: The vision represents the long-term aspirations and the desired future state of the company, while the mission defines the purpose and primary objectives of the company, often focusing on its values and goals.

Recognize the role of strategy: Strategy is the detailed plan or set of actions that a company develops to achieve its vision and mission. It bridges the gap between the current state and the desired future state outlined in the vision and mission.

Clarify the relationship between strategy, vision, and mission: Strategy is directly tied to the vision and mission because it provides the roadmap for achieving them. It ensures that all efforts and resources are aligned with the company's overarching goals.

Debunk misconceptions: Strategy does not replace the need for a vision and mission, nor does it focus solely on short-term goals or financial objectives. It is a comprehensive plan that integrates all aspects of the company to achieve its long-term aspirations.

Conclude with the correct understanding: Strategy outlines the specific actions and plans a company will use to achieve its vision and mission, ensuring alignment and coherence across all departments and objectives.