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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Debt can be avoided through which of the following?

Delaying payments to suppliers

Increasing liabilities

Ignoring expense tracking

Proper budgeting and financial planning

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Verified step by step guidance

Understand the concept of debt: Debt arises when an entity owes money to another party, typically due to borrowing or delayed payments.

Recognize that avoiding debt requires proactive financial management rather than reactive measures like delaying payments or ignoring expenses.

Proper budgeting involves creating a detailed plan for income and expenses to ensure that spending does not exceed available resources.

Financial planning includes setting financial goals, forecasting future cash flows, and preparing for unexpected expenses to avoid reliance on borrowing.

Avoid strategies like increasing liabilities, delaying payments, or ignoring expense tracking, as these can exacerbate financial problems rather than solve them.