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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Struggling with Financial Accounting?

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Multiple Choice

Which of the following questions should Freya answer before using a credit card? Select all that apply.

What is the annual interest rate (APR) on the credit card?

What is the current exchange rate for foreign currencies?

How much can I afford to repay each month?

What rewards or benefits does the credit card offer?

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Verified step by step guidance

Step 1: Understand the concept of credit card usage and the importance of evaluating its terms and conditions before making financial decisions. This includes assessing interest rates, repayment capacity, and benefits.

Step 2: Analyze the Annual Percentage Rate (APR) of the credit card. The APR represents the yearly cost of borrowing money, including interest and fees. Freya should determine if the APR is manageable based on her financial situation.

Step 3: Evaluate her monthly repayment capacity. Freya should calculate her budget and ensure she can afford to repay the credit card balance each month to avoid accumulating debt and incurring additional interest charges.

Step 4: Investigate the rewards or benefits offered by the credit card. Freya should assess if the card provides perks such as cashback, travel points, or discounts that align with her spending habits and financial goals.

Step 5: Consider the relevance of the current exchange rate for foreign currencies. This question is less critical unless Freya plans to use the credit card for international transactions, in which case understanding exchange rates and foreign transaction fees becomes important.