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 types of accounting can help a business monitor quantitative business factors?

Forensic accounting

Auditing

Managerial accounting

Tax accounting

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Verified step by step guidance

Understand the purpose of each type of accounting mentioned in the problem: Forensic accounting focuses on investigating financial discrepancies and fraud, auditing ensures the accuracy of financial statements, tax accounting deals with compliance with tax laws, and managerial accounting helps businesses monitor and analyze quantitative factors for decision-making.

Recognize that the question is asking about monitoring quantitative business factors, which involves analyzing data such as costs, revenues, budgets, and performance metrics.

Identify that managerial accounting is specifically designed to provide internal reports and analysis to help managers make informed decisions about operations and strategy.

Compare managerial accounting to the other types of accounting listed. Forensic accounting, auditing, and tax accounting are more specialized and do not primarily focus on monitoring quantitative business factors for decision-making purposes.

Conclude that managerial accounting is the correct answer because it directly supports the monitoring and analysis of quantitative business factors to aid in management decisions.