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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Why should an entrepreneur revisit the business plan after launching the business?

To avoid making any changes to the original strategy.

To finalize the initial funding requirements.

To adapt to changes in the market and ensure the business remains on track to meet its goals.

To eliminate the need for future financial statements.

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Verified step by step guidance

Understand the purpose of a business plan: A business plan serves as a roadmap for the entrepreneur, outlining goals, strategies, and financial projections. It is a dynamic document that should evolve as the business grows.

Recognize the importance of market changes: After launching the business, market conditions may shift due to factors such as competition, customer preferences, or economic trends. Revisiting the business plan allows the entrepreneur to adapt to these changes.

Evaluate performance against goals: Regularly reviewing the business plan helps the entrepreneur assess whether the business is meeting its objectives and identify areas that require improvement or adjustment.

Update financial projections and strategies: Revisiting the business plan enables the entrepreneur to revise financial forecasts, funding requirements, and operational strategies based on actual performance and new insights.

Ensure alignment with long-term goals: By revisiting the business plan, the entrepreneur can ensure that the business remains on track to achieve its long-term goals, making necessary adjustments to stay competitive and sustainable.