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 an external user of accounting information?

Cost Accountant

Investor

Company Manager

Internal Auditor

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Understand the distinction between internal and external users of accounting information. Internal users are individuals within the organization who use accounting data to make decisions, such as managers, cost accountants, and internal auditors. External users are individuals or entities outside the organization who rely on accounting information to make decisions, such as investors, creditors, and regulatory agencies.

Review the roles of the options provided: Cost Accountant, Company Manager, and Internal Auditor. These roles are typically internal users because they are directly involved in the operations and decision-making processes within the company.

Consider the role of an Investor. Investors are external users because they are not part of the organization but rely on financial statements to assess the company's performance and make investment decisions.

Identify the correct answer based on the classification of users. Since the question asks for an external user, the correct answer is 'Investor.'

Conclude that understanding the distinction between internal and external users is crucial for interpreting accounting information and its intended audience.