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 typically practiced by individuals who maintain a system of records without publishing financial statements to external users?

Governmental accounting

Private accounting

Forensic accounting

Public accounting

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Understand the different types of accounting mentioned in the problem: Governmental accounting, Private accounting, Forensic accounting, and Public accounting.

Governmental accounting refers to accounting practices used by government entities to manage public funds and ensure compliance with regulations.

Forensic accounting involves investigating financial records for legal purposes, such as fraud detection or litigation support.

Public accounting typically involves providing accounting services to external clients, including auditing, tax preparation, and consulting.

Private accounting is practiced by individuals or organizations that maintain internal records for their own use, without publishing financial statements to external users. This aligns with the description in the problem.