Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which type of accounting is primarily concerned with organizations that connect people with money to people who want it?

Financial accounting

Banking accounting

Tax accounting

Managerial accounting

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Verified step by step guidance

Understand the question: It is asking about the type of accounting that deals with organizations connecting people with money to those who need it. This typically refers to financial institutions like banks.

Review the options provided: Financial accounting, Banking accounting, Tax accounting, and Managerial accounting.

Clarify the concepts: Financial accounting focuses on recording and reporting financial transactions. Tax accounting deals with tax-related matters. Managerial accounting is concerned with internal decision-making processes. Banking accounting is specific to financial institutions like banks.

Identify the correct answer: Banking accounting is primarily concerned with organizations that connect people with money to people who want it, as it deals with the operations and financial management of banks.

Conclude the reasoning: Based on the explanation above, the correct answer is Banking accounting, as it aligns with the description provided in the question.