Bus 001: Principles of Financial Accounting

Witness Janice's decision-making process at a market, weighing perceived value against costs. Understand the dynamics of consumer choice in economics. Learn how maximizing utility and budget constraints affect purchasing decisions.

Explore the concept of distribution objectives using Nike as a prime example. Learn how integrating these objectives with marketing, finance, and sales ensures efficiency and optimal resource use. The coordination leads to strategic decisions and a seamless customer experience.

Explore how transactions shape a business's financial stance and grasp fundamental accounting distinctions. Differentiate between cash and accrual accounting, and dive deep into account classifications like owner's equity, revealing their pivotal roles in effective bookkeeping.

Explore the pillars of accounting information: Relevance and Reliability. Understand sub-components like predictive value, timeliness, and verifiability. Discover how these qualities enhance decision-making in finance

Learn about the significance of Retained Earnings in a company's financial structure. Understand how Retained Earnings fit into different financial statements. Grasp the distinction between major financial statements and their roles.

Understand the significance of the predetermined overhead rate in cost accounting. Learn the step-by-step process of estimating overhead costs, choosing the allocation base, and allocating these costs to products. Grasp the importance of accurate cost representation for effective decision-making.