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

What is the main goal of financial management?

To comply with government regulations

To ensure accurate tax reporting

To maximize the wealth of the shareholders

To record all business transactions

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Verified step by step guidance

Understand the primary goal of financial management, which is to maximize the wealth of shareholders. This involves making decisions that increase the value of the company and, consequently, the value of the shareholders' investment.

Recognize that compliance with government regulations and accurate tax reporting are important, but they are secondary objectives that support the main goal of maximizing shareholder wealth.

Learn that recording all business transactions is a function of accounting, not financial management. Financial management focuses on strategic decision-making to enhance shareholder value.

Explore how financial management achieves its goal through investment decisions (capital budgeting), financing decisions (capital structure), and dividend policy decisions.

Understand that maximizing shareholder wealth often involves balancing risk and return, ensuring the company operates efficiently, and making decisions that align with long-term growth and profitability.