Full course description
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.
- Badge and credit-awarding
- Real-world case studies
- Fully accessible
- Games & Flashcards
- Video content
Estimated time to complete: 5 hours
This course includes an “Ask the Expert” feature. You can use this feature to submit questions about the course content. A subject matter expert will provide guidance or point you to additional resources for the topics you’re studying. Questions are answered as quickly as possible and usually within 24 hours.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs.
After completing this course, you will be able to:
- Describe the managerial roles played by an entrepreneur
- 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
Tze-Yiu Yong has over 25 years of professional experience as an engineer, manager and project manager in the areas of high tech, healthcare, machine learning and academia. He has managed projects in all functions of the organization including R&D, operations, IT and marketing, and he currently works as a project manager at Oregon State University. Here he drives programs related to student recruitment and retention, online learning, and student success analytics. Passionate about raising the awareness of the necessity of project managers, he also currently serves as the Vice President of Marketing for a regional chapter of the Project Management Institute in Oregon where he calls home.