Which type of accounting primarily deals with recording and reporting transactions related to agreements or contracts that establish a schedule of payments, such as credit sales?

Focus on Accrual Accounting: This method records revenues and expenses when they are incurred, regardless of when cash is exchanged. For example, credit sales are recorded as revenue when the sale occurs, not when payment is received.

Compare Accrual Accounting to other types: Financial Accounting focuses on preparing financial statements for external users, Managerial Accounting is for internal decision-making, and Tax Accounting deals with compliance with tax laws. None of these specifically emphasize the timing of revenue and expense recognition like Accrual Accounting does.