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 of the following is considered a primary working area of accounting?

Marketing

Human resource management

Managerial accounting

Financial accounting

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Verified step by step guidance

Understand the question: The problem is asking about the primary working areas of accounting, and you need to identify which one is relevant to financial accounting.

Review the options provided: Marketing, Human resource management, Managerial accounting, and Financial accounting.

Clarify the concept of financial accounting: Financial accounting focuses on recording, summarizing, and reporting an organization's financial transactions to external users such as investors, creditors, and regulatory agencies.

Eliminate unrelated options: Marketing and Human resource management are not directly related to accounting. Managerial accounting, while an area of accounting, focuses on internal decision-making rather than external reporting.

Conclude that financial accounting is the correct answer because it directly aligns with the primary working area of accounting focused on external financial reporting.