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

In the context of social responsibility accounting, social responsibility should extend beyond the shareholders to include:

government regulators exclusively

the board of directors only

only the company's creditors

employees, customers, and the community

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Verified step by step guidance

Understand the concept of social responsibility accounting: Social responsibility accounting involves measuring and reporting the social and environmental effects of a company's economic actions to various stakeholders.

Recognize the broader scope of stakeholders: Social responsibility extends beyond just shareholders to include other groups such as employees, customers, and the community, as these groups are directly or indirectly impacted by the company's operations.

Eliminate incorrect options: Government regulators exclusively, the board of directors only, and only the company's creditors are too narrow in scope and do not encompass all relevant stakeholders.

Identify the correct stakeholders: Employees, customers, and the community are key groups that are affected by the company's actions and should be considered in social responsibility accounting.

Conclude that social responsibility accounting emphasizes accountability to a wide range of stakeholders, reflecting the company's commitment to ethical and sustainable practices.