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 primarily concerned with recording and reporting a company's investments, such as stocks, bonds, and other financial assets?

Managerial accounting

Cost accounting

Financial accounting

Tax accounting

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Verified step by step guidance

Understand the different types of accounting: Managerial accounting focuses on internal decision-making, Cost accounting deals with cost analysis, Tax accounting is concerned with tax compliance, and Financial accounting is focused on recording and reporting financial transactions.

Recognize that investments such as stocks, bonds, and other financial assets are part of a company's financial transactions and are reported in financial statements.

Learn that Financial accounting is primarily concerned with preparing financial statements, such as the balance sheet, income statement, and cash flow statement, which include details about investments.

Understand that Financial accounting ensures transparency and provides information to external stakeholders, such as investors, creditors, and regulatory agencies, regarding the company's financial position.

Conclude that Financial accounting is the type of accounting primarily concerned with recording and reporting a company's investments, as it deals with the accurate representation of financial assets in the company's financial statements.