Table of contents

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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 terms refers to a list of accounts used by a business?

General Journal

Chart of Accounts

Trial Balance

Balance Sheet

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Understand the definitions of the terms provided in the question: General Journal, Chart of Accounts, Trial Balance, and Balance Sheet.

The General Journal is a chronological record of all transactions made by a business, including debits and credits.

The Chart of Accounts is a structured list of all accounts used by a business to record transactions, categorized into assets, liabilities, equity, revenues, and expenses.

The Trial Balance is a report that lists all accounts and their balances at a specific point in time, used to check the accuracy of bookkeeping.

The Balance Sheet is a financial statement that shows a company's financial position, including assets, liabilities, and equity, at a specific point in time.