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

All business risks can be categorized as either:

market risks or credit risks

strategic risks or compliance risks

internal risks or external risks

financial risks or operational risks

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Verified step by step guidance

Understand the concept of business risks: Business risks refer to the potential events or circumstances that can negatively impact a company's ability to achieve its objectives.

Learn the categorization of business risks: Business risks are typically divided into two main categories: financial risks and operational risks.

Define financial risks: Financial risks involve uncertainties related to the company's financial performance, such as market fluctuations, credit risks, liquidity issues, or interest rate changes.

Define operational risks: Operational risks pertain to the potential losses arising from internal processes, systems, people, or external events, such as supply chain disruptions or compliance failures.

Recognize the importance of categorization: Categorizing risks into financial and operational helps businesses identify, assess, and manage risks effectively to ensure long-term sustainability.