Table of contents

Skip topic navigation

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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following types of accounting is primarily concerned with providing information to internal users for decision-making purposes?

Governmental accounting

Managerial accounting

Tax accounting

Financial accounting

Previous problemNext problem

Verified step by step guidance

Understand the different types of accounting mentioned in the problem: Governmental accounting, Managerial accounting, Tax accounting, and Financial accounting.

Recognize that Managerial accounting is specifically designed to provide information to internal users, such as managers, to assist in decision-making processes within an organization.

Contrast Managerial accounting with Financial accounting, which focuses on providing information to external users like investors, creditors, and regulatory agencies.

Note that Governmental accounting deals with the financial management and reporting of government entities, and Tax accounting focuses on compliance with tax laws and regulations.

Conclude that the type of accounting primarily concerned with providing information to internal users for decision-making purposes is Managerial accounting.