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 primarily deals with institutions that receive, transfer, and lend money to individuals, businesses, and government entities?

Management Accounting

Tax Accounting

Cost Accounting

Banking Accounting

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Verified step by step guidance

Understand the question: The problem is asking about the type of accounting that deals with institutions involved in financial transactions such as receiving, transferring, and lending money.

Review the options provided: Management Accounting, Tax Accounting, Cost Accounting, and Banking Accounting. Each option represents a distinct area of accounting.

Clarify the concept of Banking Accounting: Banking Accounting focuses on financial institutions like banks, credit unions, and other entities that handle monetary transactions, loans, deposits, and financial services.

Compare Banking Accounting with other options: Management Accounting deals with internal decision-making processes, Tax Accounting focuses on compliance with tax laws, and Cost Accounting analyzes costs for production and operations. None of these directly align with the activities described in the question.

Conclude that Banking Accounting is the correct answer because it specifically addresses the financial operations of institutions that receive, transfer, and lend money.