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

Life insurance accounting

Financial accounting

Managerial accounting

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Verified step by step guidance

Understand the question: The problem is asking to identify which option is NOT a type of accounting. This requires knowledge of the different branches of accounting.

Review the options provided: Tax accounting, Financial accounting, Managerial accounting, and Life insurance accounting.

Clarify the concept: Tax accounting, Financial accounting, and Managerial accounting are established branches of accounting, each serving specific purposes such as compliance, reporting, and decision-making.

Analyze the odd option: Life insurance accounting is not recognized as a formal branch of accounting. It may refer to accounting practices within the life insurance industry but is not categorized as a distinct type of accounting.

Conclude the reasoning: Based on the analysis, Life insurance accounting is the correct answer as it does not belong to the formal types of accounting listed.