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

All of the following are important functions of a property manager except:

Screening and selecting tenants

Collecting rent from tenants

Preparing the company's tax returns

Maintaining the property and arranging repairs

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Understand the role of a property manager: A property manager is responsible for overseeing the day-to-day operations of a rental property, ensuring it is well-maintained, and managing tenant relationships.

Review the listed functions: Screening and selecting tenants, collecting rent, and maintaining the property are all typical responsibilities of a property manager.

Identify the exception: Preparing the company's tax returns is not typically a function of a property manager. This task is usually handled by accountants or tax professionals.

Clarify the distinction: Property managers focus on operational tasks related to the property, while tax preparation involves financial reporting and compliance, which falls outside their scope.

Conclude the analysis: The correct answer is 'Preparing the company's tax returns,' as it does not align with the operational duties of a property manager.