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 are considered to be the main working areas of accounting?

Taxation, auditing, and marketing

Financial planning, investment banking, and insurance

Financial accounting, managerial accounting, and cost accounting

Human resources, production, and logistics

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Verified step by step guidance

Understand the question: The problem is asking about the main working areas of accounting, which are specific fields within the discipline of accounting.

Clarify the concept: Accounting is divided into specialized areas that focus on different aspects of financial information and decision-making. These areas include financial accounting, managerial accounting, and cost accounting.

Explain financial accounting: Financial accounting involves preparing financial statements and reports for external stakeholders, such as investors, creditors, and regulatory agencies.

Explain managerial accounting: Managerial accounting focuses on providing internal management with information to assist in planning, decision-making, and controlling operations.

Explain cost accounting: Cost accounting deals with analyzing and tracking costs associated with production or services to help businesses manage expenses and improve profitability.