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

Which of the following is considered a banking activity of the Federal Reserve (the Fed)?

Auditing public companies

Providing tax preparation services

Issuing corporate bonds

Accepting deposits from commercial banks

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Verified step by step guidance

Understand the role of the Federal Reserve (the Fed) as the central bank of the United States, which includes regulating and supervising financial institutions, conducting monetary policy, and providing financial services to the government and commercial banks.

Recognize that the Fed does not engage in activities such as auditing public companies, providing tax preparation services, or issuing corporate bonds, as these are outside the scope of its banking and regulatory functions.

Learn that one of the key banking activities of the Fed is accepting deposits from commercial banks. This is part of its role in maintaining the stability of the financial system and facilitating interbank transactions.

Consider how accepting deposits from commercial banks helps the Fed manage the reserve requirements and liquidity in the banking system, ensuring that banks have sufficient funds to meet their obligations.

Conclude that accepting deposits from commercial banks is a core banking activity of the Federal Reserve, aligning with its mandate to support the economy and financial system stability.