Business Accounting Basics
School: Purdue University
Registration Link: REGISTER HERE
Start Date: January 10, 2017 (5 Weeks Long)
Workload: 3-5 Hours Per Week
Instructor: Kimberly Fatten
Credentials: Fatten teaches financial accounting and income taxation courses at Purdue University. A CPA who holds an MBA from Indiana University’s Kelley School of Business, she is also finishing up her Ph.D. at Indiana. Before entering academia, Fatten served as the director of budgetary administration at Indiana University, where she oversaw a $70 million dollar budget.
Graded: Students who complete all course requirements can purchase a verified certificate for $150.
Description: Accounting is more than just seeing if revenues are greater than expenses. In many ways, it acts like an ongoing medical checkup, where accountants perform various analyses to check the firm’s overall health. In public companies, it is a means of documenting and assembling transactions to provide a “state of the company.” It is also used in a micro sense to determine which investments are yielding the highest return or pinpoint emerging trends in the firm.
This course tackles accounting from two angles according to Fatten. First, it takes an in-depth look at what constitutes the four major financial statements: Income Statement, Balance Sheet, Statement of Retained Earnings, and Statement of Cash Flows. At the same time, it covers the building blocks and accounting cycles that serve as the backbone of these reports, including break-even analysis, target profit analysis, and degree of operating leverage.
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