Financial Accounting Standards: Intermediate Accounting Chapter 1

Financial accounting is the preparation of financial reports on the entity. These financial reports are used by both internal and external parties. The common set of rules and procedures in the United States is called generally accepted accounting principles(GAAP). GAAP are the rules for and reporting the financial information of a business entity. This video covers Intermediate Accounting Chapter 1 Financial Accounting and Accounting Standards. __________ MENTIONED IN THIS VIDEO 📕 Intermediate Accounting 1 Playlist:    • Intermediate Accounting 1 Full Course   📕 Intermediate Accounting Chapters https://finallylearn.com/intermediate... __________ LEARN MORE ✅ Subscribe to Finally Learn https://www.youtube.com/finallylearn?... 🖥 Visit Finally Learn: https://finallylearn.com/welcome/ 💵 Time Value of Money Playlist:    • Time Value of Money   👩‍💻 Excel Basics for Beginners Playlist:    • Data Analysis with Excel   📚 Intermediate Accounting Chapters. https://finallylearn.com/intermediate... 📕 Intermediate Accounting 1 Playlist:    • Intermediate Accounting 1 Full Course   📗 Intermediate Accounting 2 Playlist:    • Intermediate Accounting 2 Full Course   __________ BOOKS I RECOMMEND 📕 The Little Book of Common Sense Investing (Jack Bogle is the father of index fund investing) https://amzn.to/3cOIHi2 📗 A Random Walk Down Wall Street (Burton Malkiel's book on why index funds beat the investing pros) https://amzn.to/3mt6OpX 📘 The Boglehead's Guide to the Three-Fund Portfolio (Simplifying your portfolio with just three funds) https://amzn.to/3cOeEas __________ SAY HI ON SOCIAL 🖥 Website: https://www.finallylearn.com 📸 Instagram:   / finallylearn   📰 Twitter:   / finallylearn   🖥 YouTube:    / finallylearn   __________ MY GEAR 🎙 Microphone https://amzn.to/39Dd7Sm 💻 Laptop https://amzn.to/2PVacxz 💼 Laptop Backpack https://amzn.to/2OnqkHI 💵 Financial Calculator https://amzn.to/3duFvY0 🎧 Earbuds https://amzn.to/2PzHNx9 📓 Journal Notebook https://amzn.to/3f4jrUX 🖊 Archival Ink Pens https://amzn.to/3tBHCiY __________ CHAPTERS 00:00 Financial Accounting 01:36 Objectives of Financial Reporting 02:52 Generally Accepted Accounting Principles 04:46 International Financial Reporting Standards 05:27 Challenges in Financial Reporting 08:30 FASB Codification __________ ABOUT ME My name is Jeff Mankin. I teach classes in accounting, finance, and Excel. I started my website FinallyLearn.com and my channel to teach more people financial topics. I have a passion for teaching financial topics using Excel. I have articles and videos on many financial topics. My goal is to help you finally learn financial skills! Check out the playlists on accounting basics, time value of money, and Intermediate Accounting. I hope you join me on the Finally Learn channel! __________ DISCLAIMERS & DISCLOSURES This content is for education and entertainment purposes only. Finally Learn does not provide accounting, tax, financial planning, or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Finally Learn is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support! #finallylearn #jeffmankin 24 Subscribers 05/26/2020    • Financial Accounting Standards: Intermedia...