Table of contents

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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 focuses on building long-term relationships with customers?

Relationship accounting

Management accounting

Financial accounting

Cost accounting

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Understand the different types of accounting mentioned in the problem: Relationship accounting, Management accounting, Financial accounting, and Cost accounting.

Define 'Relationship accounting': This type of accounting focuses on building and maintaining long-term relationships with customers, emphasizing customer satisfaction and loyalty.

Define 'Management accounting': This type of accounting is concerned with providing financial and non-financial information to managers for decision-making purposes within an organization.

Define 'Financial accounting': This type of accounting focuses on preparing financial statements for external stakeholders, such as investors, creditors, and regulatory agencies.

Define 'Cost accounting': This type of accounting focuses on analyzing and controlling costs within an organization to improve efficiency and profitability.