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

Why might a business use spreadsheet software for bookkeeping?

To automate calculations and reduce manual errors

Because spreadsheets are required by law for all businesses

To easily organize and analyze financial data

Because spreadsheets eliminate the need for any accounting knowledge

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Verified step by step guidance

Understand the purpose of spreadsheet software in bookkeeping: Spreadsheet software, such as Microsoft Excel or Google Sheets, is commonly used in bookkeeping to streamline financial data management and calculations.

Recognize the benefits of automation: Spreadsheet software can automate calculations, such as summing totals, calculating averages, or applying formulas, which reduces the risk of manual errors and saves time.

Learn about data organization: Spreadsheets allow businesses to organize financial data in a structured format using rows, columns, and tables, making it easier to track transactions, categorize expenses, and prepare financial reports.

Explore data analysis capabilities: Spreadsheet software provides tools for analyzing financial data, such as creating charts, graphs, and pivot tables, which help businesses make informed decisions based on trends and patterns.

Clarify misconceptions: Spreadsheets are not required by law for all businesses, nor do they eliminate the need for accounting knowledge. They are tools that complement accounting practices by enhancing efficiency and accuracy.