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 most relevant for a business that raises money by issuing shares of stock?

Financial accounting

Cost accounting

Tax accounting

Managerial accounting

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Verified step by step guidance

Understand the purpose of each type of accounting mentioned in the problem: Financial accounting, Cost accounting, Tax accounting, and Managerial accounting.

Recognize that Financial accounting focuses on providing information to external stakeholders, such as investors and creditors, which is relevant for businesses raising money by issuing shares of stock.

Identify that Cost accounting is primarily concerned with internal cost management and efficiency, which is not directly related to raising money through stock issuance.

Note that Tax accounting deals with compliance and reporting for tax purposes, which is not the primary focus when issuing shares of stock.

Understand that Managerial accounting is used for internal decision-making and planning, which is also not directly relevant to external reporting for stock issuance. Therefore, Financial accounting is the most relevant type for this scenario.