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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following positions generally report to the Chief Financial Officer (CFO)?

Chief Executive Officer (CEO)

Chief Marketing Officer (CMO)

Chief Information Officer (CIO)

Controller

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Understand the role of the Chief Financial Officer (CFO). The CFO is responsible for managing the financial actions of a company, including financial planning, risk management, record-keeping, and reporting.

Identify the positions that typically report to the CFO. These positions are usually related to financial management and operations, such as the Controller, Treasurer, and Internal Audit Manager.

Clarify the role of the Controller. The Controller oversees the accounting operations, including the production of financial reports, maintenance of accounting records, and ensuring compliance with financial regulations.

Compare the roles of the CEO, CMO, and CIO. The CEO (Chief Executive Officer) is the highest-ranking executive and does not report to the CFO. The CMO (Chief Marketing Officer) handles marketing strategies and reports to the CEO or another executive, not the CFO. The CIO (Chief Information Officer) manages IT and technology strategies and typically reports to the CEO or COO.

Conclude that the Controller is the correct answer because their responsibilities align directly with the financial oversight and reporting functions managed by the CFO.