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 is primarily concerned with managing and planning personal or household finances, such as budgeting for a married couple?

Managerial accounting

Governmental accounting

Financial accounting

Personal accounting

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Verified step by step guidance

Understand the question: The problem is asking about the type of accounting that deals with managing and planning personal or household finances, such as budgeting for a married couple.

Review the options provided: Managerial accounting, Governmental accounting, Financial accounting, and Personal accounting.

Define each term: Managerial accounting focuses on internal business decision-making, Governmental accounting deals with public sector finances, Financial accounting involves preparing financial statements for external users, and Personal accounting is concerned with managing individual or household finances.

Identify the correct match: Since the question specifically mentions personal or household finances, the correct type of accounting is Personal accounting.

Conclude: Personal accounting is the appropriate choice because it directly relates to budgeting and financial planning for individuals or households.