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

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 is an example of a type of accounting?

Actuarial accounting

Financial accounting

Nonforfeiture accounting

Insurance accounting

Previous problemNext problem

Verified step by step guidance

Understand the question: The problem is asking to identify a type of accounting from the given options.

Review the options provided: Actuarial accounting, Financial accounting, Nonforfeiture accounting, and Insurance accounting.

Clarify the concept of Financial Accounting: Financial accounting is a branch of accounting focused on recording, summarizing, and reporting financial transactions to external users such as investors, creditors, and regulatory agencies.

Compare the options: Actuarial accounting and Insurance accounting are specialized fields related to insurance and risk management, while Nonforfeiture accounting is not a recognized type of accounting. Financial accounting is the correct and widely recognized type of accounting.

Conclude the reasoning: Based on the definitions and comparisons, Financial accounting is the correct answer as it is a standard type of accounting used in practice.