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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

A statement of stockholders' equity lists balances of which of the following accounts?

Assets, liabilities, and equity

Cash, accounts receivable, and inventory

Common stock, retained earnings, and other equity accounts

Revenues, expenses, and net income

Previous problemNext problem

Verified step by step guidance

Understand the purpose of the statement of stockholders' equity: It is a financial statement that shows changes in equity accounts over a specific period, including contributions from stockholders, retained earnings, and other equity adjustments.

Identify the accounts typically included in the statement of stockholders' equity: These accounts are related to ownership and equity, such as common stock, retained earnings, and other equity accounts (e.g., treasury stock, additional paid-in capital).

Clarify why assets, liabilities, and equity are not listed: These are components of the balance sheet, not the statement of stockholders' equity. The statement focuses solely on equity-related accounts.

Explain why cash, accounts receivable, and inventory are excluded: These are asset accounts and are reported on the balance sheet, not the statement of stockholders' equity.

Discuss why revenues, expenses, and net income are not directly listed: These are components of the income statement. However, net income indirectly affects the statement of stockholders' equity through retained earnings.