Table of contents

Skip topic navigation

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

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

When making a large purchase, you should avoid everything except:

Making impulsive decisions without research

Comparing prices from multiple vendors

Overlooking the terms and conditions

Ignoring the total cost of ownership

Previous problemNext problem

Verified step by step guidance

Understand the concept of 'total cost of ownership' (TCO). TCO includes not just the purchase price but also additional costs such as maintenance, operation, and disposal over the item's lifecycle.

Recognize the importance of comparing prices from multiple vendors. This helps ensure you are getting the best value for your money and allows you to evaluate different options.

Avoid impulsive decisions by conducting thorough research. This includes understanding the product specifications, reviews, and alternatives available in the market.

Carefully review the terms and conditions of the purchase. This ensures you are aware of warranties, return policies, and any hidden fees or obligations.

Make a well-informed decision by combining all the above steps. This ensures that you are making a financially sound choice and avoiding unnecessary risks.