Finance And Accounting

Program Description

Learn about external financial statements, internal managerial accounting reports, income tax systems and how they interact in business decision-making. Brothers and professors of accounting at Brigham Young University Jim and Kay Stice review the accounting equation, the three primary financial statements, how to use accounting to aid decision making, and how income taxes figure into business and personal decisions. They use real-world example data from Walmart and other business so you can see how numbers drive everything from wages and product costs to home budgets.

Course Duration

2 Hours and 46 minutes

Program Description

Accountants use the credits and debits recorded in ledgers or “books” prepared by bookkeepers to create a company’s financial statements. In this course, accounting professors Jim and Kay Stice walk you through the four key steps in the bookkeeping process: analyzing, recording, summarizing transactions, and preparing financial reports. They explain the components of a journal entry (debits and credits) and the essential questions a bookkeeper/accountant asks in reviewing those transactions. They also explain how accountants translate ledger information into financial statements, and the role of computer programs such as Quicken in helping businesses manage their accounts.

Course Duration

4 Total Hours and 51 Minutes

Program Description

Growing companies do not have a long history to guide management decisions. But they cannot go on reacting to one crisis after another without a plan. Such companies need to harness the power of budgeting to identify and solve problems on paper before they arise in the real world. This course covers purchase budgets, production budgets, hiring budgets, overhead budgets, and cash budgets. Professors Jim and Kay Stice help you weigh the impact of strict versus more moderate budgeting on employee morale, and show how budgets pay off in the future, when you can use them to evaluate your business performance.

Course Duration

4 Hours and 36 minutes

Program Description

Managerial accounting helps managers make decisions using an organization’s financial data. An understanding of managerial accounting helps you figure out how much a product costs, analyze when your company breaks even, and budget for expenses and future growth. In this course, accounting professors Jim and Kay Stice cover all the fundamentals, including costs and cost behaviors, cost-volume-profit (CVP) relationships, cost flows, standard costing and activity-based costing, and budgeting.

Course Duration

7 Hours and 48 minutes

Program Description

At its core, finance is about deciding what to buy, getting the money you need in order to buy, and efficiently managing your resources after making the purchase. In this course, Brigham Young University business professors Jim and Kay Stice provide a comprehensive overview of finance, and touch on everything from reading a balance sheet to understanding derivatives and securities. They tackle questions such as “What is the difference between short-term financial management and long-term financing?” and “What is the difference between a traditional bank, an investment bank, and an investment fund?” Along the way, you’ll get a look at financial reports from companies such as Walmart and Toys “R” Us, and even analyze the data that go into personal financial decisions, such as deciding whether to buy a car and ensuring long-term financial success

Course Duration

10 Hours and 21 minutes

Program Description

Do you know the value of your business? Business valuation is critical when selling a small business, bringing on a partner, seeking additional debt or equity financing, establishing the share valuation in an initial public offering (IPO), or buying another company. In this course, accounting professors Jim and Kay Stice provide an introduction to the most important business valuation methods. They proceed from the valuation of individual assets and liabilities to the valuation of entire businesses. The course includes practice with simple valuation models, such as the use of multiples and price-to-earnings ratios, as well as the more complicated “discounted cash flow” valuation model. The final chapters include a fun and practical examination of the value of one very real business McDonald and some parting words of advice.

Course Duration

5 Hours and 27 minutes

Program Description

If you’re looking to grow your career and take on greater responsibility within your organization, you’ll need to demonstrate a basic understanding of financial management even if you’re not in a financial role. You don’t have to be a numbers person! You just have to appreciate their role in business. In this course, accounting professor Jim Stice helps you develop the financial acumen necessary to:

1. Interpret financial reports and make decisions based on available data.
2 .Manage inventory and receivables.
3. Create an accurate budget.
4. Cost a product or service.
5. Analyze customers.
6. Understand your income taxes.
7. Communicate your contribution to the bottom line.

Course Duration

5 Hours and 39 minutes

Program Description

Accounting and finance professors Jim and Kay Stice will make filing this year’s taxes a bit easier for you by explaining basic taxation concepts and terminology. In this course, they cover topics such as taxable income, tax brackets, average tax rates, withholdings, deductions, and credits, and explain the motivation behind federal tax deductions for mortgages, dependents, and charitable giving. They review the steps involved in filing a personal income tax return, address some of the issues that corporations and small businesses face in filing their returns, and cover the benefits of tax planning.

Course Duration

7 Hours and 12 minutes

Program Description

A wealth of information is available to you if you know how to read financial documents. Being able to glean information from an income statement, a cash flow statement, or a balance sheet can give you an edge in understanding not only your own business but also your competition. In this course, Rudolph Rosenberg, a finance expert, takes you through the steps of making sense of what is contained in financial reports and how to read them. You will also learn how they fit together to give you a view of a company’s situation.

Course Duration

4 Hours and 15 minutes

Program Description

Revenue recognition determines when a sale should be recorded: This month or next month? This year or next year? This seems like an easy question until you consider situations in which a company sells a package of goods and services for one joint price, or also known as multi-element transactions.But without recognizing revenue, a company can’t hope to report any profit. Accordingly, company management is typically under great pressure to recognize revenue as soon as possible. Want to understand these concepts better? Join professors Jim and Kay Stice as they introduce the theory, practice, and implications of revenue recognition. Together they demonstrate how this seemingly innocent accounting topic can turn a reported profit into a reported loss, sometimes with multibillion dollar implications for company values.

Course Duration

5 Hours

Program Description

The cash flow statement is one of the three primary financial statements, but because it has only been around since 1988, many traditional business analysis models don’t include it. And improper cash flow can mean the death of a business. This course reviews all the important topics you need to know for proper cash flow management and analysis. Professors Jim and Kay Stice review the difference between net income and operating cash flow, show how to interpret a cash flow statement, introduce the Jim Stice operating cash flow matrix, and describe some real cash flow catastrophes and triumphs at companies such as General Motors and Home Depot.

Course Duration

5 Hours and 39 minutes

Program Description

Financial ratio such as ROI (return on investment) or ROA (return on assets) are a valuable tool for measuring a company’s progress against a financial goal, a certain competitor, or the overall industry. In this course, professors Jim and Kay Stice explain the financial ratios found on balance sheets, income statements, and cash-flow statements and provide examples from real-world companies such as Walmart, Nordstrom, and McDonald’s. They help you understand how to use financial ratios to analyze or benchmark your company against other companies.

Course Duration

6 Hours and 39 minutes