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

Managerial accounting primarily provides information to:

External users such as investors and creditors

The general public

Internal users such as managers and employees

Government agencies for regulatory purposes

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Understand the distinction between financial accounting and managerial accounting. Financial accounting focuses on providing information to external users such as investors, creditors, and regulatory agencies, while managerial accounting is designed to assist internal users like managers and employees in decision-making.

Identify the primary purpose of managerial accounting. It is to provide detailed, relevant, and timely information to internal users to help them plan, control, and make strategic decisions for the organization.

Recognize the types of internal users who benefit from managerial accounting. These include managers, department heads, and employees who are involved in operational and strategic decision-making processes.

Eliminate the incorrect options. External users such as investors and creditors rely on financial accounting reports, not managerial accounting. Similarly, the general public and government agencies are not the primary audience for managerial accounting.

Conclude that the correct answer is 'Internal users such as managers and employees,' as managerial accounting is specifically tailored to meet their needs for internal decision-making and operational efficiency.