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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which type of data should only be entered in one place on your spreadsheet to ensure accuracy and consistency?

Cell references

Temporary calculations

Formatting instructions

Data that is used repeatedly throughout the spreadsheet

Previous problemNext problem

Verified step by step guidance

Understand the concept of data consistency: In financial accounting, data that is used repeatedly throughout a spreadsheet should be entered in one place to ensure accuracy and consistency. This avoids errors caused by manual duplication.

Identify the type of data that fits this description: Examples include key financial figures, formulas, or assumptions that are referenced multiple times across the spreadsheet.

Use cell references to link data: Instead of manually copying data, use cell references to dynamically pull values from the original cell. This ensures that any updates to the original data automatically reflect throughout the spreadsheet.

Implement best practices for spreadsheet design: Place repeated data in a dedicated section, such as an 'Assumptions' or 'Inputs' tab, and reference it throughout the spreadsheet using formulas or cell references.

Test for accuracy: After setting up the spreadsheet, verify that all references are correctly linked and that changes to the original data propagate as expected.