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 commonly recognized in the field of financial accounting?

Financial Accounting

Medical Accounting

Tax Accounting

Managerial Accounting

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Verified step by step guidance

Step 1: Understand the types of accounting commonly recognized in the field of financial accounting. These include Financial Accounting, Tax Accounting, and Managerial Accounting.

Step 2: Financial Accounting focuses on preparing financial statements for external users, such as investors and creditors.

Step 3: Tax Accounting deals with preparing tax returns and ensuring compliance with tax laws and regulations.

Step 4: Managerial Accounting involves providing internal reports and analysis to help management make informed business decisions.

Step 5: Medical Accounting is not a recognized type of accounting in the field of financial accounting. It is specific to healthcare organizations and does not fall under the standard categories of accounting.