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

Information that includes data about employee salaries is considered what type of accounting information?

Tax accounting information

Auditing information

Financial accounting information

Managerial accounting information

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Verified step by step guidance

Step 1: Understand the different types of accounting information. Tax accounting focuses on compliance with tax laws, auditing involves verifying financial records, financial accounting deals with external reporting, and managerial accounting is used internally for decision-making.

Step 2: Recognize that employee salary data is typically used for internal purposes, such as budgeting, cost analysis, and decision-making by management.

Step 3: Identify that managerial accounting information is designed to assist managers in planning, controlling, and evaluating business operations, which includes analyzing employee salaries.

Step 4: Compare the purpose of managerial accounting with the other types of accounting information listed in the problem to confirm that it aligns most closely with the use of employee salary data.

Step 5: Conclude that employee salary data is considered managerial accounting information because it is used internally by management for operational and strategic decisions.