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 transaction category in accounting?

Investing activities

Financing activities

Auditing activities

Operating activities

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Understand the concept of transaction categories in accounting. These categories are used to classify cash flows and activities within a business. The main categories are Operating, Investing, and Financing activities.

Operating activities include transactions related to the core business operations, such as revenue generation and expenses (e.g., sales, salaries, rent).

Investing activities involve transactions related to the acquisition or disposal of long-term assets, such as purchasing equipment or selling investments.

Financing activities include transactions related to raising capital or repaying obligations, such as issuing shares, borrowing money, or repaying loans.

Auditing activities are not a transaction category in accounting. Auditing refers to the process of examining financial records to ensure accuracy and compliance, but it does not classify cash flows or business activities.