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 type of accounting is primarily used to compare cost accounts between organizational units and deliverables?

Tax Accounting

Cost Accounting

Managerial Accounting

Financial Accounting

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

Tax Accounting focuses on compliance with tax laws and regulations, ensuring accurate reporting for tax purposes.

Cost Accounting is primarily concerned with tracking, analyzing, and comparing costs associated with organizational units and deliverables. It helps in cost control and decision-making.

Managerial Accounting provides information to internal stakeholders for planning, decision-making, and performance evaluation. It often includes cost accounting as a subset.

Financial Accounting is focused on preparing financial statements for external stakeholders, such as investors and creditors, and does not typically compare cost accounts between organizational units and deliverables.