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

Financial management relates to which one of the following types of accounting?

Managerial Accounting

Tax Accounting

Cost Accounting

Financial Accounting

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Verified step by step guidance

Understand the context of the question: Financial management is a broad concept that deals with planning, organizing, controlling, and monitoring financial resources to achieve organizational goals. It is closely tied to accounting practices.

Review the types of accounting provided in the options: Managerial Accounting, Tax Accounting, Cost Accounting, and Financial Accounting. Each of these serves a specific purpose in the financial ecosystem.

Define Financial Accounting: Financial Accounting focuses on recording, summarizing, and reporting an organization's financial transactions to external stakeholders, such as investors, creditors, and regulatory bodies. It is governed by standardized principles like GAAP or IFRS.

Relate Financial Management to Financial Accounting: Financial management relies on the accurate and standardized financial data provided by Financial Accounting to make informed decisions about budgeting, investments, and financial planning.

Conclude that Financial Accounting is the correct answer because it provides the foundational financial information necessary for effective financial management.