FI 341: Fundamentals of Risk Management & Insurance

Discover the intricacies of "Cash Short and Over" in financial management. Grasp how discrepancies arise and their impact on business, and learn about the vital process of reconciliation.

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 essential financial instruments without diving into complexity. From Treasury bills to Federal funds, uncover the basics of short-term debt and money market tools that drive economic stability.

Explore the significance of financial statements in this video, focusing on the statement of stockholders' equity and the statement of retained earnings. Understand how these documents detail changes in equity accounts, accumulated profits, and dividend disbursements, providing insights into a company's financial health and reporting.

Discover the unique role of contra revenue accounts in accounting, emphasizing their debit balance nature and their use in adjusting gross revenue. Explore examples like sales discounts, returns, and allowances to grasp their impact on a company's reported income.