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

All of the following are types of accounting except:

Insurance accounting

Managerial accounting

Tax accounting

Financial accounting

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Verified step by step guidance

Understand the question: The problem is asking to identify which option is not a type of accounting. This requires knowledge of the different branches of accounting.

Review the options provided: The options include Insurance accounting, Managerial accounting, Tax accounting, and Financial accounting.

Clarify the concept: Managerial accounting, Tax accounting, and Financial accounting are established branches of accounting. Managerial accounting focuses on internal decision-making, Tax accounting deals with tax compliance and planning, and Financial accounting involves preparing financial statements for external users.

Analyze the odd option: Insurance accounting is not a recognized branch of accounting. While insurance companies use accounting principles, 'Insurance accounting' is not a formal category like the others listed.

Conclude the reasoning: Based on the analysis, the correct answer is 'Insurance accounting' because it is not a formal type of accounting compared to the other options provided.