Search results: 4

BUS103: Introduction to Financial Accounting

Create and analyze financial statements to learn how to make informed stakeholder decisions by learning the language and rules of accounting and how to apply them.

Category: Business Administration
Time: 63
Course Introduction:

Accounting is the language of business. If you are learning accounting for the first time, embracing its foundational concepts may be challenging. Mastery of accounting primarily rests in your ability to critically think through and synthesize the information as it applies to a given situation. You should approach the learning of accounting the same way you would approach learning a foreign language; it will take time and practice to ensure you remember the concepts.

Many sub-disciplines fall under the umbrella of accounting, but this course will focus on financial accounting. Accounting as a business discipline can be viewed as a system of compiled data. Data should not be confused with information. In accounting, data is the raw transactions or business activity that happens within any business entity. For example, if someone uses $30,000 of their savings to start a business, that is a point of data. Now that you have this data, what will you do with it? Of course, the answer is accounting!

This course will introduce you to financial accounting in preparation for more advanced business topics. Recording financial information in a standard format allows managers, investors, lenders, stakeholders, and regulators to make appropriate decisions. In this course, we will look at the Income Statement, Balance Sheet, Statement of Cash Flows, and Statement of Shareholders' Equity. You will learn how to compile and analyze these financial statements from the accounting data you have created.
Course Units:
  • Unit 1: Accounting Environment, Decision-Making, and Theory
  • Unit 2: Recording Business Transactions
  • Unit 3: Adjusting Entries
  • Unit 4: Completing the Accounting Cycle
  • Unit 5: Financial Reporting and Financial Statement Analysis
  • Unit 6: Accounting for Inventory – Measuring and Reporting
  • Unit 7: Receivables and Payables Identified
  • Unit 8: Accounting for Property, Plant, and Equipment
  • Unit 9: Long-Term Liabilities and Stockholders' Equity
  • Unit 10: Statement of Cash Flows
Course Learning Outcomes:
  • Explain the foundational principles and objectives of accounting;
  • Analyze business transactions and record them using Generally Accepted Accounting Principles (GAAP);
  • Define assets, liabilities, and equity, and apply the specific rules governing their treatment in accounting;
  • Perform the steps of the accounting cycle;
  • Create the four major financial statements: income statement, balance sheet, statement of stockholders' equity, and cash flow statement;
  • Apply ratio and trend analysis to financial statements to aid in decision-making; and
  • Identify fraud risk and describe the role of internal controls in an organization.
Continuing Education Units: 6.3

BUS103: Introduction to Financial Accounting (2022.A.01)

Create and analyze financial statements to learn how to make informed stakeholder decisions by learning the language and rules of accounting and how to apply them.
Time: 72
Continuing Education Units: 7.2

BUS105: Managerial Accounting

Examine the effects of cost, price, and profit on management decision-making, and learn about the tools and methods managers use to make informed business decisions.
Category: Business Administration
Time: 53
Course Introduction:

If you have completed BUS103: Introduction to Financial Accounting, you know that firms need to track various forms of data in order to report to investors, regulators, and potential business associates such as customers and vendors.

Business managers use managerial accounting to help make decisions about their future activities: they need more information and detail than the data they provide in reports to their external stakeholders. They may need data tailored to meet the needs of a particular business unit, which is not applicable to the firm as a whole. While departmental managers have different needs, most management decisions deal with the same key issues: cost, price, and profit.

In managerial accounting, we examine complex financial decision-making and identify the tools and methods managers use to make informed decisions. We begin by introducing the terms we will reference in later units. We will discuss various methods and theories managers use to track costs and profits. In the final section, we explore how managers report the overall performance of a firm or department for internal use.
Course Units:
  • Unit 1: Managerial Accounting
  • Unit 2: Job Costing
  • Unit 3: Process Costing
  • Unit 4: Cost Behavior Patterns
  • Unit 5: Cost-Volume-Profit Analysis
  • Unit 6: Using Differential Analysis to Make Decisions
  • Unit 7: Budgets
  • Unit 8: Variance Analysis
  • Unit 9: Performance Evaluation
  • Unit 10: Statement of Cash Flows
  • Unit 11: Using Managerial Accounting: Trends and Ratios
Course Learning Outcomes:
  • Compare and contrast financial accounting and managerial accounting in terms of audience, reporting, time frame, and use of information;
  • Analyze transactions of a manufacturing business;
  • Calculate cost information and use it to support operating and strategic decisions regarding products, customers, and long-term assets;
  • Explain how managerial accounting information facilitates planning, controlling, and decision-making activities; and
  • Describe why managerial accounting requires a cross-functional team.
Continuing Education Units: 5.3

MA007: Real World Math: Algebra

Learn how to use algebra for a variety of everyday tasks like calculating the change you will get back after a purchase, analyzing relationships by graphing, and describing real-world situations in business, accounting, and science.

Category: Mathematics
Time: 35
Course Introduction:

Algebra allows us to solve many different types of calculations by using basic formulas and steps that work regardless of the specific numbers in the problem. For example, we can use an algebraic formula to calculate a monthly payment or to pay off a loan of any size using a given interest rate.

In this course, we explore how to use standard mathematical and business formulas and how to translate verbal descriptions into mathematical equations to establish relationships and create predictions. In the later units, we explore how to use graphs to make these same predictions. You can apply the problem-solving strategies we discuss in this course to business, science, and many other fields. To succeed in this introductory course, you should know how to perform operations with real numbers, including negative numbers, fractions, and decimals. Be sure to review our Foundations of Real World Math course if you need a refresher!
Course Units:
  • Unit 1: Number Properties
  • Unit 2: Linear Equations
  • Unit 3: Word Problems
  • Unit 4: Inequalities
  • Unit 5: Graphs of Linear Equations and Inequalities
  • Unit 6: Systems of Linear Equations and Inequalities
  • Unit 7: Operations with Monomials
  • Unit 8: Operations with Polynomials
  • Unit 9: Factoring Polynomials
Course Learning Outcomes:
  • Evaluate and simplify algebraic expressions;
  • Solve linear equations and inequalities in one variable;
  • Solve systems of linear equations and inequalities;
  • Solve literal equations for a given variable;
  • Translate verbal phrases into algebraic (variable) expressions;
  • Define percent, and solve basic percent problems;
  • Apply simple interest formula to problems involving loans and savings accounts;
  • Apply uniform motion formula to problems involving the motion of one or two objects;
  • Solve word problems by identifying a variable and creating an equation or an inequality;
  • Solve word problems by identifying two or more variables and creating a system of equations or inequalities;
  • Plot points on the coordinate plane, and determine the coordinates of any point on the coordinate plane;
  • Graph linear equations and inequalities in two variables on the coordinate plane;
  • Calculate the slope of a line passing through two given points;
  • Write an equation of a straight line in point-slope or slope-intercept form;
  • Solve word problems by creating a graph of a straight line and interpreting the meaning of the slope and intercepts of the line in the context of a problem;
  • Perform operations with algebraic, exponential expressions using the rules of exponents;
  • Perform operations with polynomials;
  • Identify polynomials that can be factored and determine the appropriate factoring strategy; and
  • Identify the proper method to factor a given polynomial and use it to solve a quadratic equation.
Continuing Education Units: 3.5