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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

Which of the following is NOT an element of the income statement that is affected by supply chain management?

Operating Expenses

Sales Revenue

Retained Earnings

Cost of Goods Sold

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Verified step by step guidance

Understand the elements of the income statement: The income statement includes components such as Sales Revenue, Cost of Goods Sold (COGS), and Operating Expenses. These elements are directly related to the operations and performance of a business during a specific period.

Recognize the role of supply chain management: Supply chain management impacts various aspects of the income statement, such as Sales Revenue (through product availability and customer satisfaction), Cost of Goods Sold (through procurement and production efficiency), and Operating Expenses (through logistics and distribution costs).

Identify Retained Earnings: Retained Earnings is not an element of the income statement. It is part of the equity section of the balance sheet and represents the cumulative net income retained by the company after dividends are paid.

Determine the correct answer: Since Retained Earnings is not part of the income statement and is not directly affected by supply chain management, it is the correct answer to the question.

Conclude: The other options (Operating Expenses, Sales Revenue, and Cost of Goods Sold) are all elements of the income statement and are influenced by supply chain management activities.