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

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which of the following is true regarding the assessment and monitoring of the ethics of a corporate culture?

Once an ethical code is established, ongoing monitoring is unnecessary.

Monitoring ethics is solely the responsibility of external auditors.

Ethical culture assessment is only required when fraud is suspected.

Regular assessment and monitoring help identify ethical risks and reinforce ethical standards within the organization.

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Verified step by step guidance

Understand the importance of corporate culture in financial accounting and ethics. Corporate culture refers to the shared values, beliefs, and practices within an organization that influence decision-making and behavior.

Recognize that ethical standards are crucial for maintaining trust and integrity in financial reporting and business operations. Ethical risks can lead to fraud, misrepresentation, or other unethical practices that harm stakeholders.

Learn that establishing an ethical code is only the first step. Regular assessment and monitoring are necessary to ensure that the ethical code is being followed and to identify any emerging ethical risks.

Understand that monitoring ethics is not solely the responsibility of external auditors. It is a shared responsibility involving management, internal auditors, and other stakeholders within the organization.

Accept that ethical culture assessment should be an ongoing process, not limited to situations where fraud is suspected. Regular monitoring helps reinforce ethical standards and proactively address potential risks.