Table of contents

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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 is it important to file your income taxes before tax day?

Because the IRS will automatically increase your refund if you file early.

To avoid penalties and interest charges for late filing.

To ensure your tax return is not audited.

Because you are not allowed to file after tax day.

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Verified step by step guidance

Understand the importance of filing income taxes on time: Filing your taxes before the deadline ensures compliance with tax laws and avoids penalties or interest charges for late filing.

Recognize the consequences of late filing: The IRS imposes penalties and interest on unpaid taxes if you fail to file by the deadline, which can increase your financial burden.

Clarify misconceptions: Filing early does not guarantee an increased refund, nor does it prevent audits. Filing accurately and on time is the best way to avoid issues.

Know the deadline: Tax day is the official deadline for filing your income taxes. Filing after this date is allowed only if you request an extension, but penalties may still apply for unpaid taxes.

Plan ahead: Organize your financial documents and prepare your tax return early to ensure accuracy and timely submission, reducing stress and potential errors.