In this Financial Accounting certificate course, you will explore the core financial accounting tools that will help you understand annual reports and footnotes - creating a solid understanding of the financial statements.
Relationship between balance sheet and income sheet
Statement of retained earnings
Earnings per share
Module 3: Recording Transactions
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
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
Module 3: Cash Flow
Purpose of the statement of cash flows
Types of cash flow
Preparing the statement of cash flows
Module 1: Inventory
Gross Profit and COGS
Inventory Methods
LIFO and FIFO
Average Cost Methods
Module 2: 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 3: 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 1: Equity
Background on stockholders equity
Types of capital stock
Cash dividends
Preferred stock
Employee stock options
Other items
Module 2: Free Cash Flow
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: Introduction to Financial Statement Analysis
Performance Analysis
Financial Ratios
Evaluating Corporate Performance
Module 4: Desk Ready Skills Knowledge Check
Basic overview of the 3 financial statements and how they relate
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
Accountants, entry level finance professionals and regulators
Jack Farmer
Jack is currently the Curriculum Director for the New York Institute of Finance. Farmer also acts as an outside adviser for portfolio managers at significant global investment funds. These funds included emerging markets equity funds and global macro hedge funds. Jack serves a variety of functions for the funds he advises, including the development of options strategies, quantitative strategies, and hedging strategies. Additionally, Jack specializes in capitalizing on systemic and macroeconomic imbalances in equity and fixed income markets throughout the world.
Jack specializes in training and consulting solutions for portfolio risk management, FX and interest rate derivatives and trading, equity index and volatility trading, equity derivatives and structured equity products, financial statement analysis and hedge accounting.
Education
BS in Engineering from Tulane University MBA in Finance and Accounting from Tulane University Ph.D. in Finance (ABD) from the University of Texas at Austin
