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 is NOT considered a financial budget?

Sales budget

Cash budget

Budgeted balance sheet

Capital expenditure budget

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Verified step by step guidance

Understand the concept of financial budgets: Financial budgets focus on the planning and management of an organization's financial resources, including cash flows, investments, and financial position.

Review the types of financial budgets listed: Cash budget, budgeted balance sheet, and capital expenditure budget. These are all directly related to financial planning and resource allocation.

Analyze the sales budget: The sales budget is primarily focused on forecasting sales revenue and is part of the operational budget, not the financial budget. It helps in planning production and marketing activities rather than managing financial resources.

Compare the sales budget with the other options: Notice that the sales budget does not deal with cash flows, investments, or the financial position of the company, unlike the other budgets listed.

Conclude that the sales budget is NOT considered a financial budget because it is part of the operational budget and focuses on sales forecasting rather than financial resource management.