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

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Multiple Choice

One important consideration when prospecting for a good franchise business is:

Choosing a franchise solely based on low initial fees

Ignoring the terms of the franchise agreement

Evaluating the franchisor's track record and reputation

Focusing only on the popularity of the product

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Verified step by step guidance

Understand the concept of franchising: A franchise is a business model where a franchisor grants the franchisee the right to operate a business using its brand, products, and operational methods.

Recognize the importance of evaluating the franchisor's track record and reputation: This involves researching the franchisor's history, financial stability, and success rate of existing franchises.

Avoid common pitfalls: Do not choose a franchise solely based on low initial fees, as this may overlook long-term profitability and operational costs.

Review the franchise agreement thoroughly: Ignoring the terms of the agreement can lead to misunderstandings about obligations, fees, and restrictions.

Consider the product's popularity in context: While a popular product is important, it should not be the sole factor in decision-making. Evaluate market demand, competition, and sustainability of the product's success.