This course provides an introduction to key topics in accounting and finance for those involved in new ventures. It reviews financial accounting basics, including GAAP Principles and financial statements, and also covers key issues in finance, broadly defined as any financial or monetary activity that involves a company.
- Understand and explain the assumptions and principles that underlie Generally Accepted Accounting Principles (GAAP)
- Understand and explain the rules of double-entry accounting
- Calculate the balance of the account
- Define the steps that make up the accounting cycle
- Describe the relationship between the major financial statements that make up an annual report
- Explain the role of finance in the entrepreneurial process
- Understand the importance of budgeting and financial planning
- Identify and explain the three major pricing strategies
- Define and distinguish between fixed and variable costs
- Calculate the components of a master (static) budget
- Prepare a cash budget
- Prepare and analyze pro forma financial statements
- Develop a basic financial plan
- Use pro forma financial statements to evaluate a new venture
- Explain the factors and assumptions involved in break-even analysis
- Calculate Return on Investment (ROI) and payback period
- Badge and credit-awarding
- Games & Flashcards
- Video content
- Real-world case studies
- Audio-enabled in app
This course has an “Ask the Expert” feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.
This course does not require any additional purchases of supplementary materials.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs. Learners will have three attempts at all graded assessments.