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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Struggling with Financial Accounting?

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Multiple Choice

The big picture strategy to managing your money is to:

Develop a comprehensive financial plan that aligns with your long-term goals.

Focus solely on minimizing your monthly expenses.

Invest all your savings in high-risk assets for maximum returns.

Rely on short-term loans to cover unexpected expenses.

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Verified step by step guidance

Understand the concept of a comprehensive financial plan: A financial plan is a detailed strategy that helps you manage your money effectively to achieve your long-term financial goals. It includes budgeting, saving, investing, and planning for future expenses.

Evaluate the importance of aligning financial plans with long-term goals: Long-term goals could include retirement savings, purchasing a home, or funding education. A financial plan ensures that your money management decisions contribute to achieving these objectives.

Recognize the limitations of focusing solely on minimizing monthly expenses: While reducing expenses is important, it is not a complete strategy. A balanced approach includes saving, investing, and planning for unexpected costs.

Understand the risks of investing all savings in high-risk assets: High-risk investments can lead to significant losses. Diversification and risk management are key principles in financial planning to protect your savings.

Learn why relying on short-term loans for unexpected expenses is not ideal: Short-term loans often come with high interest rates and can lead to financial strain. Building an emergency fund is a better strategy for handling unexpected costs.