Language: English
Description: This course, offered by our accredited school partners, provides an introduction to key topics in accounting and finance for those involved in new ventures. It reviews financial accounting basics, including GAAP Principles and financial statements, and also covers key issues in finance, broadly defined as any financial or monetary activity that involves a company.
Learning Outcomes
• Understand and explain the assumptions and principles that underlie Generally Accepted Accounting Principles (GAAP)
• Understand and explain the rules of double-entry accounting
• Calculate the balance of the account
• Define the steps that make up the accounting cycle
• Describe the relationship between the major financial statements that make up an annual report
• Explain the role of finance in the entrepreneurial process
• Understand the importance of budgeting and financial planning
• Identify and explain the three major pricing strategies
• Define and distinguish between fixed and variable costs
• Calculate the components of a master (static) budget
• Prepare a cash budget
• Prepare and analyze pro forma financial statements
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• Develop a basic financial plan
• Use pro forma financial statements to evaluate a new venture
• Explain the factors and assumptions involved in break-even analysis
• Calculate Return on Investment (ROI) and payback period
Instructor Description: This course has a "Mentor Expert" helpdesk feature. Learners have the ability to submit questions directly to an expert in the field you are studying.
Certification: N/A Requirements
This course does not require any additional purchases of supplementary materials.
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Lesson 1
The course covers these topics:
Generally Accepted Accounting Principles (GAAP)
Rules of Double-Entry Accounting
The Accounting Cycle
Relationship of Financial Statements
Financial Planning and Budgets
Calculating the Master Budget
The Cash Budget
Pro Forma Financial Statements
The Financing Plan
Evaluating New Ventures
Break-even Analysis
Return on Investment and Payback Period
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