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

12. Stockholders' Equity

Characteristics of a Corporation

Financial Accounting

12. Stockholders' Equity

Characteristics of a Corporation

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Multiple Choice

Which of the following is typically considered the highest-level financial manager in a corporation?

Chief Executive Officer (CEO)

Chief Financial Officer (CFO)

Controller

Treasurer

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Understand the hierarchy of financial management within a corporation. Typically, the Chief Financial Officer (CFO) is considered the highest-level financial manager responsible for overseeing all financial aspects of the company.

Differentiate between the roles listed in the question: Chief Executive Officer (CEO), Chief Financial Officer (CFO), Controller, and Treasurer. The CEO is the overall leader of the company, but the CFO specifically manages financial operations.

Recognize the CFO's responsibilities, which include financial planning, risk management, record-keeping, and reporting. These tasks make the CFO the highest-level financial manager.

Understand the roles of the Controller and Treasurer. The Controller focuses on accounting and financial reporting, while the Treasurer manages cash flow, investments, and financing. Both report to the CFO.

Conclude that the CFO is the correct answer because they oversee the Controller and Treasurer and are responsible for the corporation's overall financial strategy and management.