{"id":94,"date":"2015-04-20T18:19:00","date_gmt":"2015-04-20T18:19:00","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=part&p=94"},"modified":"2020-08-20T02:35:45","modified_gmt":"2020-08-20T02:35:45","slug":"accounting-finance","status":"publish","type":"part","link":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/part\/accounting-finance\/","title":{"raw":"Chapter 15: Accounting and Finance","rendered":"Chapter 15: Accounting and Finance"},"content":{"raw":"
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Module: Accounting and Finance<\/h1>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n
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Why It Matters: Accounting and Finance<\/div>\r\n
\r\n\r\nWhy do Accounting & Finance matter?\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n
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Show What You Know<\/div>\r\n
\r\n\r\nTake this pre-test to see what you already know about the concepts in this section. The pre-test does not count toward your grade, but will help you plan where to focus your time and effort as you study. The pre-test is optional.\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n<\/div>\r\n
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Accounting in Business<\/div>\r\n
\r\n\r\nDefine accounting and explain its role as a form of business communication\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n
Video: What Is Accounting?<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Reading: The Role of Accounting<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: Accounting in Business<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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Key Financial Statements<\/div>\r\n
\r\n\r\nIdentify four key financial statements, the components of each statement and their primary uses\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Video: Financial Statements: An Introduction<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Reading: Understanding Financial Statements<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Video: Financial Statements: Interconnectivity<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: Key Financial Statements<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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The Break-Even Point<\/div>\r\n
\r\n\r\nCalculate the break even point where profit will be equal to $0, using information from financial statements\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Video: Break-Even Analysis in Three Minutes<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Reading: Finding the Break-Even Point<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Simulation: The Rise of the Business Guru<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: The Break-Even Point<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\r\n\r\n\"icon\"\r\n\r\nfocus\r\n\r\n<\/div>\r\n<\/div>\r\n
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Quantitative Analysis<\/div>\r\n
\r\n\r\nExplain the importance of quantitative analysis in managerial decision-making and problem-solving using basic financial ratios\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n
Reading: Objectives of Financial Statement Analysis<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: Quantitative Analysis<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n<\/div>\r\n
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Financial Ratios<\/div>\r\n
\r\n\r\nCalculate basic financial ratios to measure the profitability and health of a business such as quick ratio and acid test ratio\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n
Video: Financial Ratios and Financial Ratio Analysis Explained<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Reading: Financial Ratio Analysis<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: Financial Ratios<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n<\/div>\r\n
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Ethical Practices in Accounting<\/div>\r\n
\r\n\r\nDiscuss the importance of ethical practices in accounting and the implications of unethical behaviors\r\n\r\n<\/div>\r\n\r\n\r\n\r\n\r\n
Reading: Challenges Facing the Accounting Profession<\/td>\r\n<\/td>\r\n<\/tr>\r\n
Self-Check: Ethical Practices in Accounting<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n
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Putting It Together: Accounting and Finance<\/div>\r\n
\r\n\r\nAccounting & Finance\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n
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\"icon\"<\/div>\r\n
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Quiz<\/div>\r\n
\r\n\r\nYou can take this quiz twice. Your highest score will count as your grade. Don't wait until the last minute to take the quiz - take the quiz early so you'll have plenty of time to study and improve your grade on your second attempt.\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>","rendered":"
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Module: Accounting and Finance<\/h1>\n<\/div>\n<\/div>\n<\/div>\n
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\"icon\"<\/div>\n
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Why It Matters: Accounting and Finance<\/div>\n
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Why do Accounting & Finance matter?<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\"icon\"<\/div>\n
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Show What You Know<\/div>\n
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Take this pre-test to see what you already know about the concepts in this section. The pre-test does not count toward your grade, but will help you plan where to focus your time and effort as you study. The pre-test is optional.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\n
\n
\n
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\n
\"icon\"<\/div>\n<\/div>\n
\n
Accounting in Business<\/div>\n
\n

Define accounting and explain its role as a form of business communication<\/p>\n<\/div>\n\n\n\n\n\n
Video: What Is Accounting?<\/td>\n<\/td>\n<\/tr>\n
Reading: The Role of Accounting<\/td>\n<\/td>\n<\/tr>\n
Self-Check: Accounting in Business<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\"icon\"<\/p>\n

focus<\/p>\n<\/div>\n<\/div>\n

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Key Financial Statements<\/div>\n
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Identify four key financial statements, the components of each statement and their primary uses<\/p>\n<\/div>\n\n\n\n\n\n\n
Video: Financial Statements: An Introduction<\/td>\n<\/td>\n<\/tr>\n
Reading: Understanding Financial Statements<\/td>\n<\/td>\n<\/tr>\n
Video: Financial Statements: Interconnectivity<\/td>\n<\/td>\n<\/tr>\n
Self-Check: Key Financial Statements<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\n
\n
\n

\"icon\"<\/p>\n

focus<\/p>\n<\/div>\n<\/div>\n

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The Break-Even Point<\/div>\n
\n

Calculate the break even point where profit will be equal to $0, using information from financial statements<\/p>\n<\/div>\n\n\n\n\n\n\n
Video: Break-Even Analysis in Three Minutes<\/td>\n<\/td>\n<\/tr>\n
Reading: Finding the Break-Even Point<\/td>\n<\/td>\n<\/tr>\n
Simulation: The Rise of the Business Guru<\/td>\n<\/td>\n<\/tr>\n
Self-Check: The Break-Even Point<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\n
\n
\n
\n

\"icon\"<\/p>\n

focus<\/p>\n<\/div>\n<\/div>\n

\n
Quantitative Analysis<\/div>\n
\n

Explain the importance of quantitative analysis in managerial decision-making and problem-solving using basic financial ratios<\/p>\n<\/div>\n\n\n\n\n
Reading: Objectives of Financial Statement Analysis<\/td>\n<\/td>\n<\/tr>\n
Self-Check: Quantitative Analysis<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\n
\"icon\"<\/div>\n<\/div>\n
\n
Financial Ratios<\/div>\n
\n

Calculate basic financial ratios to measure the profitability and health of a business such as quick ratio and acid test ratio<\/p>\n<\/div>\n\n\n\n\n\n
Video: Financial Ratios and Financial Ratio Analysis Explained<\/td>\n<\/td>\n<\/tr>\n
Reading: Financial Ratio Analysis<\/td>\n<\/td>\n<\/tr>\n
Self-Check: Financial Ratios<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\n
\n
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\"icon\"<\/div>\n<\/div>\n
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Ethical Practices in Accounting<\/div>\n
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Discuss the importance of ethical practices in accounting and the implications of unethical behaviors<\/p>\n<\/div>\n\n\n\n\n
Reading: Challenges Facing the Accounting Profession<\/td>\n<\/td>\n<\/tr>\n
Self-Check: Ethical Practices in Accounting<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\"icon\"<\/div>\n
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Putting It Together: Accounting and Finance<\/div>\n
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Accounting & Finance<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\"icon\"<\/div>\n
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Quiz<\/div>\n
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You can take this quiz twice. Your highest score will count as your grade. Don’t wait until the last minute to take the quiz – take the quiz early so you’ll have plenty of time to study and improve your grade on your second attempt.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"parent":0,"menu_order":150,"template":"","meta":{"pb_part_invisible":false,"pb_part_invisible_string":""},"contributor":[],"license":[],"class_list":["post-94","part","type-part","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/94","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/types\/part"}],"version-history":[{"count":1,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/94\/revisions"}],"predecessor-version":[{"id":5964,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/94\/revisions\/5964"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/media?parent=94"}],"wp:term":[{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/contributor?post=94"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/license?post=94"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}