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 is NOT a type of accounting?

Tax Accounting

Managerial Accounting

Financial Accounting

Biological Accounting

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Verified step by step guidance

Step 1: Understand the types of accounting mentioned in the problem. Tax Accounting, Managerial Accounting, and Financial Accounting are all established branches of accounting, each serving specific purposes.

Step 2: Tax Accounting focuses on preparing and filing tax returns, ensuring compliance with tax laws, and planning for tax efficiency.

Step 3: Managerial Accounting involves providing financial and non-financial information to managers for decision-making, planning, and controlling operations within an organization.

Step 4: Financial Accounting is concerned with recording, summarizing, and reporting an organization's financial transactions to external parties, such as investors and creditors, through financial statements.

Step 5: Biological Accounting is not a recognized type of accounting. It does not fall under the established branches of accounting, making it the correct answer to the question.