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

Why is it important to have your financial plan and goals in place when considering investments?

Because financial plans eliminate the need to monitor your investments regularly.

Because a financial plan helps align investment choices with your risk tolerance and long-term objectives.

Because having a plan guarantees that all investments will be profitable.

Because it allows you to avoid paying any taxes on investment gains.

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Verified step by step guidance

Understand the purpose of a financial plan: A financial plan serves as a roadmap for managing your finances, including investments, by aligning them with your risk tolerance, time horizon, and long-term objectives.

Recognize the importance of risk tolerance: Risk tolerance refers to the level of risk an investor is willing to accept. A financial plan helps ensure that investment choices are consistent with this tolerance, avoiding undue stress or losses.

Consider long-term objectives: Investments should be chosen based on their ability to help achieve specific financial goals, such as retirement savings, purchasing a home, or funding education. A financial plan helps prioritize these objectives.

Debunk common misconceptions: A financial plan does not guarantee profitability or eliminate taxes on investment gains. Instead, it provides a structured approach to making informed decisions and managing risks effectively.

Emphasize regular monitoring: While a financial plan provides guidance, it is still important to monitor investments periodically to ensure they remain aligned with your goals and adapt to changes in market conditions or personal circumstances.