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

Managerial Accounting

Financial Accounting

Medical Accounting

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Verified step by step guidance

Step 1: Understand the different types of accounting mentioned in the problem. Tax Accounting deals with preparing and filing taxes, Managerial Accounting focuses on providing information to internal management for decision-making, and Financial Accounting involves preparing financial statements for external stakeholders.

Step 2: Recognize that Medical Accounting is not a recognized type of accounting in the field of Financial Accounting. It is not a standard category used in the profession.

Step 3: Compare the listed options to identify which one does not fit within the established categories of accounting.

Step 4: Confirm that Tax Accounting, Managerial Accounting, and Financial Accounting are legitimate types of accounting, while Medical Accounting is unrelated to the field.

Step 5: Conclude that Medical Accounting is the correct answer as it is not a type of accounting.