
We provide Lesson Notes for each lesson to help you learn the material more effectively. These notes are available as a PDF and include the key slides and concepts from the presentation.
We strongly recommend printing a copy of the Lesson Notes and following along during the presentation. Add your own handwritten notes and highlight important concepts as you go. This active approach will help you engage more deeply with the material and retain the information more effectively.
You can access the Lesson Notes in the Udemy resource list.
This lesson introduces our advanced financial accounting course, which is an expansion of Course #1 (Introduction to Accounting: The Language of Business course.) We also review the vital topics from course #1 from which we will build upon.
Discover how product costs inform managerial decisions, with inventory as an asset and cost of goods sold. Compare process costing for standardized production and job order costing for customized orders.
Explore the operating cycle and the statement of cash flows, showing how inventory purchases and accounts payable turnover shape liquidity. See cash flows by activity: operating, investing, financing.
Learn to prepare and interpret the cash flow statement using the direct approach, by classifying cash flows into operating, investing, and financing activities, with practical examples.
Learn to prepare the indirect method cash flow from operations by starting with net income and adjusting for accrual and cash differences in accounts receivable, accounts payable, inventory, and depreciation.
Explore perpetual and specific inventory costing, FIFO and LIFO methods, cost of goods sold, freight costs, returns, and gross margin.
Estimate ending inventory and cost of goods sold under periodic inventory with the gross margin method (60% margin) and apply the lower of cost or market to determine write-downs.
Explain how contingencies affect financial statements, including contingent assets and liabilities, probable outcomes, and notes to the financial statements; illustrate warranty accounting and conservatism in estimation.
Explore annuity calculations for future value, present value, and payment timing, applying mortgage and retirement examples with a financial calculator.
Explore accelerated depreciation methods, including sum of the years digits and declining balance, compare to straight line, and apply to assets with partial years, salvage, and tax implications.
Explore how bonds function as long-term debt financing and how they’re priced and accounted for. Understand discount and premium issuance, carrying value, and amortization under the effective interest method.
Welcome to the Norm Nemrow AC 3 - Accounting Course 3 of 5
Quick Glance
Produced by the #1 Accounting University in the World (as rated by the London Financial Times)
Professor is a self-made millionaire many times over. Taught accounting at his university as a volunteer and became the #1 best teacher on campus
Professor honored by the President of United States for teaching
#1 rated Accounting course on Udemy for many YEARS
Earn real University CREDITS by taking this course (see below for details)
Between 5-10 times MORE content than other Udemy accounting courses. A real university course isn't accomplished in 1-3 hours (don't believe the hype). We train the highest recruited accounting students by the top four accounting firm on earth. We know what it takes to make you powerful in accounting.
Description
Learn accounting from the self-made millionaire Norm Nemrow and the recipient of a famed teaching award from the President of the United States. This course is produced by the #1 accounting university in the world, Brigham Young University (Rated by the London Financial Times 2013). This course will teach you the fundamentals of Financial Accounting better and more effectively than any course available today... guaranteed. Other courses may talk a good game but our course is the gold standard. This IS the specific course that prepares the top recruits into the big four accounting firms worldwide and recommended by HARVARD to its incoming MBA students. Join over 100,000 top students from the top universities all over the world with our famous course that we're now making available on Udemy. No other Accounting course to our knowledge has been highlighted in Wired magazine, Gagaom, and the New York Times, yes, it's that popular and well acclaimed. Welcome to the Norm Nemrow Accounting Course where you can get a NNAC in Accounting.
The Introduction to Accounting Course Series is composed of FIVE courses. If you take the challenge and learn the content in all FIVE courses then you will have mastered the first year of accounting at the best accounting university program in the world. These are the SAME courses we use at the university, which means if you sign-up with our Independent Study program, you only need to take the exams and you'll receive 6-credit hours. These credits are extremely valuable and will transfer to virtually any higher institution in the world. No other course on Udemy prepares you for real college credit-hours like our courses. However, if you decide the credits are not for you, that's also great... you will have received the best accounting education in the world here on Udemy, and you will have the knowledge you need to master your business and lead your company into the future.
Courses Offered (All FIVE courses build on each other in order):
Course 1: Introduction to Financial Accounting
Course 2: Introduction to Managerial Accounting
Course 3: Advanced Financial Accounting (THIS COURSE)
Course 4: Advanced Managerial Accounting
Course 5: Accounting Capstone
Developed and used at the #1 Accounting University in the World
Discussed in Wired Magazine, Gigaom, & New York Times
Professor Norm Nemrow, self-made millionaire and the recipient of the National Points of Light Service Award from President Bush and teacher of the year at BYU EVERY YEAR the award was offered.
Let’s be honest, accounting has a negative stigma attached to it. Why? Because mainstream accounting education teaches students how to be nothing more than bean counters. Talk about boring! We take a different approach; a better approach. In a nutshell, we teach students how to become business decision makers. Our goal is to give business leaders and entrepreneurs the necessary tools so they can unleash their ideas and be successful in the open business market. Accounting is the language of business and an entrepreneur with a solid understanding of the fundamental principles of accounting can run a business and solve problems better than competitors who fail to learn these crucial concepts. So join us in this exciting educational experience that will enrich your life and give you the competitive edge in your business.