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LinkedIn Learning

Accounting Foundations

via LinkedIn Learning

Overview

Prepare for a new career with $100 off Coursera Plus
Gear up for jobs in high-demand fields: data analytics, digital marketing, and more.
Learn accounting. Get an introduction to the four basic types: financial accounting, managerial accounting, income tax accounting, and bookkeeping.

Syllabus

Introduction
  • The importance of accounting
  • What you should know
1. What Is Accounting?
  • The four flavors of accounting
  • Bookkeeping
  • Financial accounting
  • Managerial accounting
  • Income taxes
2. Financial Accounting: Balance Sheet
  • Who uses financial statements?
  • The accounting equation
  • Assets
  • Liabilities
  • Equity
  • Balance sheet example: Walmart assets
  • Balance sheet example: Walmart liabilities and equity
  • Limitations of the balance sheet
3. Financial Accounting: Income Statement and Cash Flow
  • The balance sheet and the income statement
  • Overview of the income statement
  • Earnings per share
  • Income statement example: Walmart revenues
  • Income statement example: Walmart expenses
  • Overview of the cash flow statement
  • Cash flow example
  • Summary of financial reporting
4. Managerial Accounting
  • DuPont and managerial accounting
  • A closer look at managerial accounting
  • Product costing: Materials and labor
  • Product costing: Overhead
  • Break-even analysis: Computations
  • Break-even analysis: Interpretation and use
  • Budgets: Realistic benchmarks
  • Budgets: Solving problems in advance
  • Performance evaluation example: Drilling contest
  • Performance evaluation example: Optometrist
  • Performance evaluation example: Stice boys
5. Income Taxes
  • The history of income taxes
  • Tax brackets
  • Average and marginal tax rates
  • Tax deductions and credits
  • Capital gains vs. ordinary income
  • Income tax summary
Conclusion
  • Conclusion

Taught by

Jim Stice and Earl Stice

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