Compare courses
Register
School of Continuing Studies

XCPD-033 Business Accounting

Add course to comparison
This course has no confirmed dates in the future. Check out relevant courses from other schools.

Relevant courses

Course format
Max price
Starting after
Ending before

Categories

Finance

Description

Course Details

This introductory course covers the basic concepts of financial accounting. Special emphasis is placed on the interpretation of financial statements and the computation of basic cost and financial relationships for external reporting management purposes. The following pertinent concepts will be introduced:

  • Financial ratios
  • Balance sheet
  • Income statement
  • Statement of cash flows
  • Assets/liabilities
  • Stockholders' equity

Course Objectives

Upon completion of this course, successful students will be able to:

  • Describe the basic concepts of financial accounting.
  • Explain basic concepts relating to: financial ratios, balance sheets, income statements, statement of cash flows, assets/liabilities, stockholders’ equity.
  • Construct basic financial statements such as a balance sheet, income statement, and statement of cashflows and understand how each is linked.
New York Institute of Finance

Financial Accounting Professional Certificate

Add course to comparison

Next dates

Oct 14—18
5 days
New York, New York, United States
USD 3119
USD 623 per day

Unsure if this course is right for you? Connect with our experts to get unbiased course recommendations.

Schedule a call

Description

Explore the core financial accounting tools that will help you understand annual reports and footnotes - creating a solid understanding of the financial statements. Prerequisite knowledge:

  • Basic MS Excel skills
  • Elementary mathematics

CURRICULUM

Day 1

MODULE 1: ACCOUNTING CONCEPTS

  • Introduction to financial accounting
  • Balance sheet equations
  • Types of ownership
  • Function of an audit

MODULE 2: MEASURING INCOME

  • The income statement
  • Revenue recognition and the matching concept
  • Relationship between balance sheet and income sheet
  • Statement of retained earnings
  • Earnings per share

Day 2

MODULE 1: ACCRUAL ACCOUNTING AND FINANCIAL STATEMENT FORMATS

  • Adjustments to accounts
  • Implicit transactions
  • Classified balance sheet
  • Income statement
  • Case study - Goodyear, Inc. balance sheet and income statement

MODULE 2: ACCOUNTING FOR SALES

  • Revenue recognition
  • Revenue measurement
  • Credit sales and accounts receivable
  • Assessing level of accounts receivable

Day 3

MODULE 1: LONG LIVED ASSETS AND DEPRECIATION

  • Overview of long lived assets
  • Depreciation
  • Depreciation methods
  • Gains and losses on sales of fixed assets
  • Intangible assets
  • Depletion

MODULE 2: DEFERRED TAXES

  • Concept of deferred taxes
  • Computation of deferred tax items
  • Other deferred tax items Liabilities and interest
  • Current liabilities
  • Long term liabilities
  • Accounting for leases

MODULE 3: EQUITY

  • Shareholder rights
  • Authorized, issues and outstanding shares
  • Preferred stock
  • Issuance of shares
  • Exchanges and conversions
  • Dividends

Day 4

MODULE 1: EQUITY

  • Background on stockholders equity
  • Types of capital stock
  • Cash dividends
  • Preferred stock
  • Employee stock options
  • Other items

MODULE 2: CASH FLOW

  • Purpose of the statement of cash flows
  • Types of cash flow
  • Preparing the statement of cash flows

MODULE 3: FREE CASH FLOW

Day 5

MODULE 1: ACCOUNTING FOR INVESTMENTS

  • Overview of corporate investments
  • Short term investments
  • Long term investments in bonds
  • Market, equity and consolidation methods

MODULE 2: PENSION ACCOUNTING AND ACCOUNTING FOR STOCK OPTIONS

  • Pension plan types
  • Measures of defined benefit pension plan liabilities
  • Cost components of a pension plan
  • Plan assets

MODULE 3: DESK READY SKILLS KNOWLEDGE CHECK

WHAT YOU'LL LEARN

  • Describe the components of the balance sheet
  • Analyze the effect of transactions on the balance sheet equation
  • Compare the features of sole proprietorships, partnerships and corporations
  • Describe the function of an audit
  • Explain the regulation of financial reporting
  • Explain how accountants measure income
  • Determine when a company should record revenue from a sale use the concept of matching to record the expenses for a period
  • Demonstrate how an income statement is related to a balance sheet Account for cash dividends and prepare a statement of retained earnings
  • Explain the double-entry accounting system
  • Analyze and journalize transactions
  • Post journal entries to the ledgers
  • Prepare and use a trial balance
  • Explain the accounting adjustments required at the end of the fiscal period
  • Explain the role of adjustments in accrual accounting
  • Explain the difference between explicit and implicit transactions
  • Describe components of a classified balance sheet
  • Prepare a classified balance sheet
  • Describe components of a single and multiple step income statement
  • Prepare a multiple step income statement
  • Use ratios to assess profitability
  • Determine proper period in which to record revenues
  • Link inventory valuation to gross profit
  • Assess accounts receivable

Who should attend

  • Accountants
  • entry level finance professionals and regulators
Show more