Introductory to Financial Accounting
Decisions are made on a daily basis. They can be small decisions like deciding what to eat …
Decisions are made on a daily basis. They can be small decisions like deciding what to eat for breakfast or large decisions like deciding whether to invest in a certain company. Our days are almost entirely comprised of decision making. Decisions will yield different outcomes and may provide you with more reward or risk–Financial Accounting is similar. Financial Accounting information is used for decision making. We’ll see that everything we report within Financial Accounting will affect a users’ decision.
Financial Accounting information also provides insight as to whether our company is performing as expected. How long can we operate until our cash runs out? Are we financially stable as a company? In today’s marketplace it is imperative that every company has an accounting system in place to answer these questions. As we go through each segment, we’ll see how Financial Accounting is an essential part of any business.
In this series we’ll introduce Financial Accounting and cover the fundamentals to help you succeed in class or in practice. The first few tutorials will be theory based to understand what Financial Accounting is, and then we’ll seamlessly transition into elements and more complex subjects. After going through these videos we expect you to be ready to start our next course which is Intermediate Financial Accounting I.
The following topics will be covered within Introductory to Financial Accounting: