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 concerned with setting and evaluating short-term goals related to product, price, distribution, and promotion within an organization?

Financial Accounting

Managerial Accounting

Auditing

Tax Accounting

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Verified step by step guidance

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

Recognize that Financial Accounting focuses on preparing financial statements for external stakeholders, such as investors and creditors.

Learn that Managerial Accounting is primarily concerned with providing information to internal stakeholders (e.g., managers) to help in decision-making, including setting and evaluating short-term goals related to product, price, distribution, and promotion.

Understand that Auditing involves examining financial records to ensure accuracy and compliance with regulations, and Tax Accounting deals with preparing and planning for tax obligations.

Based on the definitions, identify that the type of accounting concerned with short-term goals related to product, price, distribution, and promotion is Managerial Accounting.