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 business is primarily motivated to earn a profit?

Government agencies

Nonprofit organizations

Charitable foundations

For-profit businesses

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Understand the different types of organizations: Government agencies, nonprofit organizations, charitable foundations, and for-profit businesses. Each has distinct goals and motivations.

Government agencies are primarily focused on providing public services and are funded by taxes or other public resources. Their goal is not to earn a profit but to serve the public interest.

Nonprofit organizations aim to achieve specific social, cultural, or environmental objectives. They reinvest any surplus funds into their mission rather than distributing profits to owners or shareholders.

Charitable foundations are a subset of nonprofit organizations. Their primary focus is on philanthropy and supporting causes, not earning profits.

For-profit businesses are motivated to earn a profit as their primary goal. They aim to generate revenue that exceeds their expenses, which is distributed to owners or shareholders as profit.