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 establishes intermediary rules and guidelines for recording and reporting commercial real estate transactions?

Managerial accounting

Financial accounting

Tax accounting

Regulatory accounting

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

Managerial accounting focuses on providing internal reports and data to help management make decisions. It is not primarily concerned with external reporting or intermediary rules.

Financial accounting deals with preparing financial statements for external stakeholders, following established standards like GAAP or IFRS. However, it does not specifically focus on intermediary rules for commercial real estate transactions.

Tax accounting is concerned with compliance with tax laws and regulations, focusing on preparing tax returns and planning. It does not establish intermediary rules for recording and reporting transactions.

Regulatory accounting is the type of accounting that establishes intermediary rules and guidelines for specific industries, including commercial real estate transactions, ensuring compliance with industry-specific regulations.