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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Multiple Choice

Which of the following is an example of business analytics?

Preparing a bank reconciliation statement

Recording transactions in the general ledger

Posting journal entries to the trial balance

Using data mining techniques to identify sales trends

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Verified step by step guidance

Understand the concept of business analytics: Business analytics involves using data, statistical analysis, and predictive modeling to make informed business decisions and identify trends or patterns.

Review the options provided in the problem: Preparing a bank reconciliation statement, recording transactions in the general ledger, posting journal entries to the trial balance, and using data mining techniques to identify sales trends.

Analyze each option: Preparing a bank reconciliation statement, recording transactions, and posting journal entries are examples of routine accounting tasks focused on maintaining accurate financial records, not analyzing data for trends or decision-making.

Focus on the correct answer: Using data mining techniques to identify sales trends is an example of business analytics because it involves analyzing large datasets to uncover patterns and insights that can inform business strategies.

Conclude that business analytics is distinct from traditional accounting tasks, as it emphasizes data-driven decision-making rather than record-keeping.