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

Business buyers use which of the following types of accounting to make informed decisions within an organization?

Financial accounting

Governmental accounting

Managerial accounting

Tax accounting

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Verified step by step guidance

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

Recognize that Financial accounting focuses on providing information to external stakeholders, such as investors and creditors, through financial statements.

Learn that Governmental accounting is specific to public sector organizations and focuses on compliance with regulations and accountability for public funds.

Understand that Managerial accounting is designed to provide internal decision-makers, such as managers, with relevant information to make informed decisions about operations, budgeting, and strategy.

Note that Tax accounting deals with compliance with tax laws and regulations, focusing on preparing tax returns and planning for tax obligations. Based on this understanding, Managerial accounting is the correct type used by business buyers to make informed decisions within an organization.