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 primarily focuses on identifying opportunities for financial savings within an organization?

Managerial Accounting

Tax Accounting

Forensic Accounting

Financial Accounting

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Understand the different types of accounting and their primary focus. Managerial Accounting focuses on internal decision-making, including identifying opportunities for financial savings within an organization.

Tax Accounting deals with compliance and preparation of tax returns, ensuring adherence to tax laws.

Forensic Accounting involves investigating financial discrepancies and fraud, often for legal purposes.

Financial Accounting focuses on preparing financial statements for external stakeholders, such as investors and creditors.

Based on the definitions, identify which type of accounting aligns with the goal of identifying opportunities for financial savings within an organization. This is primarily the role of Managerial Accounting.