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

Bank statements, credit statements, and records of cash expenses help you to estimate your ________.

accounts receivable

net income

inventory turnover

cash flow

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Understand the concept of cash flow: Cash flow refers to the movement of money into and out of a business, which is crucial for assessing liquidity and financial health.

Identify the role of bank statements: Bank statements provide detailed records of deposits, withdrawals, and balances, which are essential for tracking cash inflows and outflows.

Consider credit statements: Credit statements show transactions related to credit purchases and payments, helping to estimate cash flow by accounting for credit-related cash movements.

Include records of cash expenses: Cash expense records document direct cash payments made by the business, which are necessary for calculating cash outflows.

Combine all sources: Use the information from bank statements, credit statements, and cash expense records to estimate the overall cash flow by summing cash inflows and subtracting cash outflows.