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?

Property insurance accounting

Cost accounting

Financial accounting

Managerial accounting

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Verified step by step guidance

Step 1: Understand the types of accounting listed in the problem. Cost accounting, financial accounting, and managerial accounting are all recognized branches of accounting, each serving specific purposes in business operations.

Step 2: Define each type of accounting briefly: Cost accounting focuses on analyzing and controlling costs within a business; financial accounting deals with preparing financial statements for external stakeholders; managerial accounting provides information for internal decision-making.

Step 3: Recognize that 'Property insurance accounting' is not a standard type of accounting. It refers to a specific area of insurance management rather than a formal branch of accounting.

Step 4: Compare the listed options to identify which one does not align with the established branches of accounting.

Step 5: Conclude that 'Property insurance accounting' is the correct answer as it is not a recognized type of accounting.