Table of contents

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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 not a valid type of accounting?

Managerial Accounting

Financial Accounting

Tax Accounting

Legal Accounting

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Understand the different types of accounting mentioned in the problem: Managerial Accounting, Financial Accounting, Tax Accounting, and Legal Accounting.

Managerial Accounting focuses on providing information to internal users, such as managers, to aid in decision-making within the organization.

Financial Accounting involves preparing financial statements for external users, such as investors, creditors, and regulatory agencies, following standardized principles like GAAP or IFRS.

Tax Accounting deals with preparing tax returns and ensuring compliance with tax laws and regulations.

Legal Accounting is not a recognized type of accounting. It does not fall under the standard categories of accounting practices, making it the correct answer to the question.