Module: Accounting and Finance
Why do Accounting & Finance matter?
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.
Define accounting and explain its role as a form of business communication
| Video: What Is Accounting? | |
| Reading: The Role of Accounting | |
| Self-Check: Accounting in Business |
focus
Identify four key financial statements, the components of each statement and their primary uses
| Video: Financial Statements: An Introduction | |
| Reading: Understanding Financial Statements | |
| Video: Financial Statements: Interconnectivity | |
| Self-Check: Key Financial Statements |
focus
Calculate the break even point where profit will be equal to $0, using information from financial statements
| Video: Break-Even Analysis in Three Minutes | |
| Reading: Finding the Break-Even Point | |
| Simulation: The Rise of the Business Guru | |
| Self-Check: The Break-Even Point |
focus
Explain the importance of quantitative analysis in managerial decision-making and problem-solving using basic financial ratios
| Reading: Objectives of Financial Statement Analysis | |
| Self-Check: Quantitative Analysis |
Calculate basic financial ratios to measure the profitability and health of a business such as quick ratio and acid test ratio
| Video: Financial Ratios and Financial Ratio Analysis Explained | |
| Reading: Financial Ratio Analysis | |
| Self-Check: Financial Ratios |
Discuss the importance of ethical practices in accounting and the implications of unethical behaviors
| Reading: Challenges Facing the Accounting Profession | |
| Self-Check: Ethical Practices in Accounting |
Accounting & Finance
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.