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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Before creating a business plan, what is the most important step an entrepreneur should take?

Conduct thorough market research to understand industry trends and customer needs.

Secure a business loan from a financial institution.

Hire employees to begin operations immediately.

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Verified step by step guidance

Understand the importance of market research: Market research is a critical step for entrepreneurs as it helps them identify industry trends, customer needs, and potential competitors. This foundational knowledge ensures the business plan is tailored to the market's demands.

Define the purpose of market research: The goal is to gather data on target demographics, preferences, purchasing behavior, and market size. This information will guide decision-making and strategy development.

Learn methods of conducting market research: Entrepreneurs can use surveys, focus groups, interviews, and secondary data sources like industry reports and government statistics to collect relevant information.

Analyze the collected data: Once the data is gathered, it should be organized and analyzed to identify patterns, opportunities, and potential challenges in the market.

Use insights to inform the business plan: The findings from market research should directly influence the business plan, including product offerings, pricing strategies, marketing approaches, and operational decisions.