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 types of accounting refers to the responsibility of effectively planning and managing resources?

Auditing

Tax Accounting

Financial Accounting

Managerial Accounting

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Understand the different types of accounting mentioned in the problem: Auditing, Tax Accounting, Financial Accounting, and Managerial Accounting.

Auditing involves examining financial records to ensure accuracy and compliance with regulations. It does not focus on planning or managing resources.

Tax Accounting deals with preparing and filing tax returns and ensuring compliance with tax laws. It is not primarily concerned with resource management.

Financial Accounting focuses on recording, summarizing, and reporting financial transactions to external stakeholders. It does not emphasize planning or managing resources.

Managerial Accounting is the type of accounting that focuses on providing information to internal stakeholders for decision-making, planning, and managing resources effectively. This aligns with the description in the problem.