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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is NOT considered one of the major types of accounting?

Tax Accounting

Managerial Accounting

Financial Accounting

Human Resource Accounting

Previous problemNext problem

Verified step by step guidance

Understand the major types of accounting: Tax Accounting, Managerial Accounting, and Financial Accounting are widely recognized as the primary branches of accounting. Each serves a distinct purpose in the financial management and reporting process.

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

Managerial Accounting involves providing internal financial information to managers for decision-making, budgeting, and performance evaluation.

Financial Accounting is concerned with preparing financial statements (e.g., income statement, balance sheet, cash flow statement) for external stakeholders such as investors, creditors, and regulators.

Human Resource Accounting is not considered one of the major types of accounting. It is a specialized field that deals with measuring and reporting the value of human resources in an organization, but it is not classified as a primary branch of accounting.