Through this course, you will start by addressing the two “big questions” of accounting: “What do I have?” and “How did I do over time?” You will see how the two key financial statements – the balance sheet and the income statement - are designed to answer these questions and then move on to consider how individual transactions aggregate to make up these financial statements. After developing a broad understanding of accounting and financial statements, you will begin to develop a more nuanced understanding of individual components of doing business, such as making a sale or building inventory. By considering many of the more common actions of a company, you will build your understanding of accounting, and explore these concepts by applying them across various types of transactions. Once you understand these individual concepts better, you will be ready to return to the overall financial statements and use them as informational tools, including building ratios.
You can do this course standalone or to qualify for the residential component of the Finance for Strategic Decision-Making Executive Education program. For more information, see the FAQ below.
Programa - O que você aprenderá com este curso
Semana
13 horas para concluir
Why Do We Have Accounting and How Can You Make it Work for You?
Every organized society needs information about its activities and accomplishments. Accounting was created to fulfill this need. In this module we will explore how accounting was designed to meet the needs of decision makers and what this means to you as a user of accounting information. We will discuss the concept behind accrual accounting including introducing the two primary accrual accounting financial statements - the balance sheet and income statement. This module will discuss the purpose and goal of those financial statements, but we will save your experience in creating those statements until module two. In lesson two of this module, we will explore some basic bookkeeping tools that will get you ready to create a set of financial statements. The material in this module is likely to take less than a week, but we will make up for it in module two.
10 vídeos (total de (Total 95 mín.) min), 7 leituras, 4 testes
10 videos
Welcome14min
Why Do We Have Accounting?10min
What is Accrual Accounting?8min
What is a Balance Sheet?9min
What is an Income Statement?8min
Comparing the Two Statements6min
Transactions to Financial Statements4min
Journal Entries10min
T-Accounts15min
Using T-Accounts for Account Analysis6min
7 leituras
The Structure of the Course10min
The Syllabus10min
Help us learn more about you!10min
Introduction and Overview of Lesson One2min
Introduction and Overview of Lesson Two3min
Notice for Auditing Learners: Assignment Submission10min
Transactions for quiz10min
4 exercícios práticos
Overview Material12min
Transactions and Journal Entries10min
T-Accounts and Other Ways to Post6min
Module One Test18min
Semana
24 horas para concluir
The Accounting Cycle and Bookkeeping: Foundational Tools for a Deeper Understanding
In this module we will create a set of accrual accounting financial statements. We will use that experience to walk you through the accounting cycle - which is the process by which accounting captures and aggregates all of the transactions in the period into a set of financial statements. We will examine each step in the accounting cycle using a comprehensive example of a start up wholesale book retailer. You will learn how the steps combine to create the statements. In addition to the comprehensive example we will do together, there will be plenty of chances to practice each step yourself. This module ends with a chance for you to build your own set of financial statements for a start up company. Fair warning: in my opinion this is the least exciting material covered in any accounting class (including this one). It is the basic bookkeeping process, not the interesting part of building an understanding of the business. But just as you need to learn basic addition and subtraction before you can master the math to design a beautiful building, you also need to learn basic bookkeeping as a foundation for the more interesting accounting.
7 vídeos (total de (Total 81 mín.) min), 6 leituras, 5 testes
7 videos
Comprehensive Example Set Up4min
Recording Externally Prompted Transactions23min
Recording Adjusting Journal Entries10min
Recording Closing Journal Entries9min
Making an Income Statement7min
Making a Balance Sheet11min
6 leituras
Introduction and Overview of Lesson Three3min
Introduction and Overview of Lesson Four3min
Introduction and Overview of Lesson Five3min
Introduction and Overview of Lesson Six5min
Instructions for Quiz10min
Transactions to be Used for the Quiz10min
5 exercícios práticos
Quiz on Introduction to the Accounting Cycle6min
Transaction Entries25min
Adjusting and Closing Journal Entries10min
Quiz Financial Statements6min
Accounting Cycle Comprehensive Quiz30min
Semana
33 horas para concluir
Revenue, Accounts Receivable, Inventory and Cost of Goods Sold
In the last module we took an overview perspective to get a sense of the structure of financial statements. For the next three modules we are going to delve into the details of specific items on the accrual financial statements. We will work through the most common items on the balance sheet and income statement to develop an understanding of those items. While we will consider specific items, we will also be building a thought process that we can apply to any future accounting items - even if they are topics that we do not cover in this course. That will allow you to confidently use accounting for years to come, regardless of changes in items or in the specific accounting rules.
There are two lessons in this module. The first will cover revenue and the related balance sheet item of accounts receivable. The second lesson will cover costs of goods sold and inventory. We will cover the conceptual economics of each, discuss the current accounting rules and end with a video that applies our bookkeeping tools. The readings for each lesson provide more details.
7 vídeos (total de (Total 63 mín.) min), 2 leituras, 4 testes
7 videos
Accounting Guidance on Revenue Recognition8min
Bookkeeping for Revenue Recognition3min
Accounting for the Allowance for Doubtful Accounts and the Bad Debt Expense9min
What goes into Inventory and Cost of Goods Sold14min
Which One Did We Sell? Inventory Cost Flow Assumptions14min
Bookkeeping for Inventory Transactions4min
2 leituras
Introduction and Overview of Lesson Seven5min
Introduction and Overview of Lesson Eight5min
4 exercícios práticos
Revenue20min
Allowance for Doubtful Accounts20min
Inventory and Cost of Goods Sold20min
Module Three Test30min
Semana
43 horas para concluir
Long-Lived Assets
As firms operate, they often use long-lived assets to execute their business models. Some of these assets are tangible, such as factories or computers. Others are intangible, such as trademarks and brands. In either case, managers face the issue of determining how much of these items were used in each period as well as the related question of how much remains. In this module, we will examine the economics of such transactions as well how accountants reflect them on financial statements. This module will also cover the most nebulous of intangible assets - goodwill.
10 vídeos (total de (Total 64 mín.) min), 5 leituras, 6 testes
10 videos
Basic Bookkeeping for Depreciation5min
Changing Depreciation Estimates4min
Selling an Asset6min
When an Asset is used to make another Asset9min
How Do We Think About Non-Physical Assets?7min
Bookkeeping for Amortization and Intangibles3min
What is Goodwill?4min
Calculating Goodwill8min
Asset Impairments6min
5 leituras
Introduction and Overview of Lesson Nine2min
Introduction and Overview of Lesson Ten3min
Introduction and Overview of Lesson Eleven1min
Introduction and Oveview for Lesson Twelve2min
Introduction and Overview of Lesson Thriteen2min
6 exercícios práticos
Basics of Depreciation12min
More Advanced Depreciation Topics12min
Intangible Assets6min
Goodwill20min
Impairments10min
Quiz for Long Lived Assets40min
4.8
9 avaliações33%
consegui um benefício significativo de carreira com este curso
Melhores avaliações
With no prior knowledge of accounting it's surprising how easy it is to progress through the course. professor Miller has an amazing ability to explain new concepts in an easy to understand manner!
Awesome course, engaging, and very good professor (he should team up with engineers!)
Instrutores
Greg Miller
ProfessorRoss School of Business
Sobre Universidade de Michigan
The mission of the University of Michigan is to serve the people of Michigan and the world through preeminence in creating, communicating, preserving and applying knowledge, art, and academic values, and in developing leaders and citizens who will challenge the present and enrich the future.
Perguntas Frequentes – FAQ
Quando terei acesso às palestras e às tarefas?
Ao se inscrever para um Certificado, você terá acesso a todos os vídeos, testes e tarefas de programação (se aplicável). Tarefas avaliadas pelos colegas apenas podem ser enviadas e avaliadas após o início da sessão. Caso escolha explorar o curso sem adquiri-lo, talvez você não consiga acessar certas tarefas.
O que recebo ao adquirir o Certificado?
Quando você adquire o Certificado, ganha acesso a todo o material do curso, incluindo avaliações com nota atribuída. Após concluir o curso, seu Certificado eletrônico será adicionado à sua página de Participações e você poderá imprimi-lo ou adicioná-lo ao seu perfil no LinkedIn. Se quiser apenas ler e assistir o conteúdo do curso, você poderá frequentá-lo como ouvinte sem custo.
Qual é a política de reembolso?
Existe algum auxílio financeiro disponível?
What are the various ways in which I can take this course?
You can do this course standalone or to qualify for the residential component of the Finance for Strategic Decision-Making Executive Education program.
Q. What is the Finance for Strategic Decision-Making Executive Education program?
The Finance for Strategic Decision-Making Executive Education program is a hybrid learning opportunity consisting of two digital courses in Accounting and Finance and a companion in-person experience working hands-on with the faculty and your classmates with data and real world problems to identify solutions and opportunities. With this new blended learning program, Michigan Ross is the 1st to combine the ease of access via digital learning with a unique, in-person direct application experience, all with the rigor expected from a globally top ranked business school. You will have to earn a verified certificate in the course to be eligible for the face-to-face program at the Ross School of Business. To learn more, visit http://michiganross.umich.edu/financestrategy.
Why is the pricing of the verified certificates different from the Finance course?
The pricing of the verified certificate is different depending on whether the course is stand alone, as is the case with the Accounting course, or if the course is part of a Specialization, as is the Finance course. All specializations are offered on a monthly subscription model.
For the Finance for Strategic Decision-Making Executive Education program, do I need to to take the courses in any particular order?
While the online courses can be taken in any order, generally completion of the Accounting course is recommended before the Finance portion as the application of concepts of Accounting are helpful to completing the Finance course.
What would I gain from taking the Strategic Decision-Making Executive Education program?
You will gain:
-An understanding of the structure of accounting information that is used to make decisions
-Comfort in using financial statement information to analyze a situation.
-The ability to synthesize information from various sources to develop a deeper understanding of a situation
-The skills to analyze financial ratios as well as creating ratios and metric that are custom to the issue you are studying
-A deep understanding of analytical and financial frameworks to make value-enhancing decisions
-The ability to conduct detailed and rigorous valuation analyses of both projects and companies
-Comfort in understanding the financial analyses conducted by colleagues in your organization in proposals and critiques
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