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

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which of the following is NOT considered a fair and ethical business practice according to the principles of financial accounting?

Falsifying financial records to meet earnings targets

Maintaining transparency in financial disclosures

Accurately reporting all revenues and expenses

Complying with applicable laws and regulations

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Verified step by step guidance

Understand the principles of financial accounting, which emphasize fairness, transparency, accuracy, and compliance with laws and regulations.

Review each option provided in the question to determine whether it aligns with these principles.

Analyze the option 'Falsifying financial records to meet earnings targets' and recognize that it violates the principles of fairness and transparency, as it involves intentional misrepresentation.

Evaluate the other options: 'Maintaining transparency in financial disclosures,' 'Accurately reporting all revenues and expenses,' and 'Complying with applicable laws and regulations,' which all align with ethical business practices in financial accounting.

Conclude that the option 'Falsifying financial records to meet earnings targets' is NOT considered a fair and ethical business practice according to the principles of financial accounting.