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

3. Accrual Accounting Concepts

Revenue Recognition and Expense Recognition

Financial Accounting

3. Accrual Accounting Concepts

Revenue Recognition and Expense Recognition

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Multiple Choice

The essence of yield management is the ability to manage what?

Employee payroll expenses

Long-term fixed asset depreciation

Inventory turnover ratios

Revenue through dynamic pricing and capacity allocation

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Verified step by step guidance

Understand the concept of yield management: Yield management is a strategy used to maximize revenue by dynamically adjusting pricing and capacity allocation based on demand and market conditions.

Identify the key components of yield management: These include dynamic pricing (adjusting prices based on demand) and capacity allocation (optimizing the use of available resources, such as hotel rooms or airline seats).

Clarify why the other options are incorrect: Employee payroll expenses, long-term fixed asset depreciation, and inventory turnover ratios are not directly related to yield management. These are separate financial or operational metrics.

Focus on the correct answer: Yield management revolves around revenue management, specifically through dynamic pricing and capacity allocation to optimize profitability.

Relate yield management to practical applications: Examples include airlines adjusting ticket prices based on seat availability and demand, or hotels changing room rates based on occupancy levels and seasonal trends.