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Learn More15 Week MBA Level - Financial and Managerial Accounting
Rating: 4.7 out of 54.7(14 ratings)
115 students
15 Week MBA Level - Financial and Managerial Accounting
Let's learn the basics of accounting
Created byChris Severson
Last updated 8/2023
English
What you'll learn
- Learn about financial accounting
- Learn about managerial accounting
- Understand the differences between financial and managerial accounting
- Learn about the different users of financial vs managerial accounting
Explore related topics
Course content
15 sections • 99 lectures • 15h 6m total length
- Introduction3:00
This video will introduce the course, discussing what topics will be covered and how they will be covered.
- Module 1 - Part 1 Video - Intro to Financial Accounting Concepts27:03
This video goes through the first half of Module 1. Specifically, it covers the introduction to financial accounting, differences between financial and managerial accounting, different classifications of accounting and careers for each type, and a brief history of accounting.
- Module 1 - Part 2 Video - Intro to Financial Accounting Concepts25:44
This video goes through the second half of Module 1. Specifically, it covers the accounting concepts and principles, the four core financial statements, and the accounting equation.
- Introduction to Accounting – History and Needs of Users6:17
This section discusses the difference between the internal and external users, as well as how they use accounting information and what they need. This also provides a brief history of accounting.
- Different Classifications of Accounting and Careers Within Them3:31
This section discusses the different types of classifications of accounting and what types of careers one could expect to find in each one. Some examples include financial, managerial, tax, auditing, etc.
- History of Accounting4:42
This section covers a history of accounting from its earliest incarnations to the more modern accounting standards and practices that we know today.
- Accounting Concepts and Principles6:01
In this section we go through all of the different accounting principles, standards, and concepts that we need to use as we continue on in our accounting journey. These are higher level rules that drive how we record transactions and how we recognize various things like revenues and expenses.
- Four Core Financial Statements in Order of Creation7:34
In this section we are covering the for financial statements, including the income statement, statement of retained earnings, balance sheet, and statement of cash flows. This covers the basic design and order of the statements, though we will go into much more detail in later sections.
- Basic and Expanded Accounting Equation5:14
In this section, we will cover a very important concept that is used in remaining sections of the course. Specifically, this is the accounting equation. We will explain why assets must equal liabilities plus equity, and how that can be expanded even further.
- Quiz - Module 1 - Intro to Financial Accounting
- Module 2 - Part 1 Video - Mechanics of Bookkeeping and Accounting34:36
This video goes through the first half of Module 2. Specifically, it covers the debit/credit rules for the normal balances of accounts. This is needed for preparing journal entries. This video covers the journal entry rules, posting to T-Accounts/General Ledgers, and preparing the unadjusted trial balance.
- Module 2 - Part 2 Video - Mechanics of Bookkeeping and Accounting29:41
This video goes through the second half of Module 2. It picks up with the adjusting entries, and walks through the preparation of the adjusted trial balance, financial statements, closing entries, and post-closing trial balance.
- Accounting Cycle3:48
This section covers the various steps of the accounting cycle, to help students understand how the different concepts we talk about throughout the course all fit together.
- Normal Balances2:31
This section covers a very important topic with the normal balance rules for accounts. These rules are critical to know how to increase or decrease various accounts in a journal entry.
- Initial Journal Entries4:05
This section covers the rules regarding journal entries. Specifically, it goes through debit/credit rules, and how to properly format a journal entry.
- Accrual vs. Cash Basis of Accounting2:10
This section covers the differences between the cash basis and accrual basis of accounting and why the accrual basis is used for accounting.
- Adjusting Journal Entries6:20
This section covers the adjusting journal entries, including the prepaid/deferral adjusting entries, as well as accrual adjusting entries. There are four main categories of adjusting entries that will be discussed, along with examples of each.
- Closing Journal Entries1:36
This section covers the closing journal entries that occur at the end of the accounting period after the company has prepared its financial statements. This will explain how to prepare the closing entries, what the purpose of them is, and what happens after the books are closed for the period.
- Quiz - Module 2 - Mechanics of Bookkeeping and Accounting
- Module 3 - Part 1 Video - Cash, Supplies, and Inventory16:24
This video goes through the first half of Module 3. Specifically, it covers the overview of current vs. long term assets, cash and the bank reconciliation, and supplies.
- Module 3 - Part 2 Video - Cash, Supplies, and Inventory37:33
This video goes through the second half of Module 3. Specifically, it covers accounts receivables and bad debts, and inventory.
- Current Assets and Overview0:51
In this section we discuss the overview of current assets, and what is used to classify an asset as current vs. long term.
- Cash and Bank Reconciliation6:11
In this section we discuss cash and how to perform a bank reconciliation.
- Prepaid Expenses/Assets0:25
In this section we discuss prepaid expenses and assets, and why these are considered current assets.
- Accounts Receivables and Bad Debts3:45
In this section we discuss accounts receivables and bad debts, including the journal entries and how these show up on both the income statement and balance sheet.
- Inventory and Cost of Goods Sold6:24
In this section we discuss inventory and cost of goods sold. This includes a discussion of the different methods used to show the flow of inventory cost.
- Quiz - Module 3 - Current Assets
- Module 4 - Part 1 Video - Long Term Assets and Depreciation30:11
This video goes through the first half of Module 4. Specifically, it covers the overview of fixed assets, as well as the purchase and acquisition of fixed assets.
- Module 4 - Part 2 Video - Long Term Assets and Depreciation25:03
This video goes through the second half of Module 4. Specifically, it covers the various depreciation methods, as well as the disposition of assets.
- Overview of Fixed Assets2:51
This section covers an overview of fixed assets in general, as well as what we will cover throughout the rest of this module.
- Fixed Asset Purchase and Acquisition2:53
This section covers the purchase and acquisition of fixed assets, as well as the necessary journal entries for these different scenarios.
- Depreciation Methods and Calculations9:43
This section covers the different depreciation methods that may be used for various fixed asset purchases. This goes through the detail of the different calculations.
- Revenue and Capital Expenditures1:44
This section covers the topic of revenue vs. capital expenditures. This covers the various types of expenditures such as ordinary maintenance types of transactions versus more unusual and larger expenses such as overhauls, etc.
- Disposition of Assets1:12
This section covers the disposition of assets, including the different ways that a company may dispose of those assets, as well as how they may calculate and record each type.
- Intangible Assets and Amortization2:02
This section covers the topic of intangible assets, including how to purchase them and record them initially and along the way through amortization.
- Natural Resources and Depletion1:04
This section covers the topic of natural resources, including how to purchase them and record them initially and along the way through depletion. .
- Quiz - Module 4 - Long Term Assets and Depreciation
- Module 5 - Part 1 Video - Current and Long Term Liabilities44:18
This video goes through the first half of Module 5. Specifically, it covers the various types of current liabilities such as accounts payable, warranties payable, etc.
- Module 5 - Part 2 Video - Current and Long Term Liabilities33:40
This video goes through the second half of Module 5. Specifically, it covers the various types of long term liabilities such as notes payables and bonds payables.
- Accounts Payable vs. Notes Payables (and Misc. Liabilities)7:41
This video covers the topic of accounts and notes payables. Specifically, it covers what they are, and how to record the journal entries for them.
- Payroll3:57
This video covers the topic of payroll expenses and liabilities. This will cover things such as FICA taxes, FUTA, Federal and State Income Taxes.
- Warranties2:45
This video covers the topic of warranty expenses and payables. This covers what they are, how to record the various journal entries related to them, and how they get reported on the various financial statements.
- Contingent Liabilities1:36
This video covers the topic of contingent liabilities. This covers what they are, how to record the various journal entries related to them, and how they get reported on the various financial statements.
- Bonds Payable8:47
This video covers the topic of bonds payables. This covers the issuance of bonds, the different methods for recording interest expense, the amortization of bonds, the various journal entries related to them, and how they get reported on the various financial statements.
- Quiz - Module 5 - Current and Long-Term Liabilities
- Module 6 - Part 1 Video - Stock, Equity, and Dividends21:29
This video goes through the first half of Module 6. Specifically, it covers the various categories of equity, including stock and dividends.
- Module 6 - Part 2 Video - Stock, Equity, and Dividends22:18
This video goes through the second half of Module 6. Specifically, it covers the various categories of equity, including stock and dividends.
- Stock Overview and Issuance (Common and Preferred Stock)5:28
In this video we discuss an overview of stock and look at the calculations and journal entries necessary for the issuance of stock. We also cover the difference between common and preferred stock.
- Cash Dividends4:35
In this video we focus on the topic of cash dividends including the calculations and journal entries. We discuss why companies may or may not issue such dividends.
- Stock Dividends and Splits5:18
In this video we switch gears to focus in on stock dividends and how they differ from cash dividends. We discuss why a company would want to issue a stock dividend instead. We also discuss the concept of a stock split and the similarities and differences between that and a stock dividend.
- Treasury Stock4:21
In this video we focus in on the topic of treasury stock. We discuss why a company may want to issue treasury stock and how it impacts owner's equity overall.
- Quiz - Module 6 - Stock and Dividends
- Module 7 Video - Revenue Recognition and the Income Statement28:21
This video goes through Module 7. Specifically, it covers the topic of revenue recognition and it covers how everything is reported on the income statement.
- Introduction to the Income Statement4:06
In this video we introduce the income statement. We explain the importance of the income statement and how the company and other users can use this information.
- Components of the Income Statement10:24
In this video we introduce each individual component of the income statement and the purpose each one serves to the overall statement.
- Different Income Statement Models0:49
In this video we discuss each of two main different income statement models (single step vs. multi step.) We discuss which types of companies may want to use each type.
- Quiz - Module 7 - Income Statement and Revenue Recognition
- Module 8 Video - Cash Flow Statement23:55
This video goes through Module 8. Specifically, it covers the statement of cash flows and how this differs from the income statement.
- Overview of Cash Flow Statement4:37
In this video we start to dig into the fourth and final financial statement; the statement of cash flows. In this video we just provide a brief overview of it.
- Operating Section4:48
In this video we cover the first and perhaps most important section of the cash flow statement; the operating section.
- Investing Section0:28
In this video we cover the investing section of the statement of cash flows. This section deals with the purchase and sale of long term assets and other investments.
- Financing Section0:23
In this section we cover the financing section of the cash flow statement. This deals with the different ways the company obtains financing for its operations and investments, including how they pay those funds back.
- Non-Cash Investing and Financing Activities0:14
In this section we wrap up the discussion of the cash flow statement, providing examples of each method. We also briefly discuss a fourth section of the cash flow statement known as the non-cash investing and financing activities.
- Quiz - Module 8 - Statement of Cash Flows
- Module 9 - Part 1 Video - Financial Statement Analysis21:43
- Module 9 - Part 2 Video - Financial Statement Analysis29:35
- Overview of Financial Statement Analysis2:29
In this section we cover the introduction to financial statement analysis. We discuss how the different statements are actually used by investors and others to make decisions. We introduce the various types of analysis that will be covered further in the below sections.
- Horizontal and Trend Analysis1:49
In this section we discuss the first type of financial statement analysis; horizontal analysis. This analysis compares one year of data to another to see how the amounts have changed.
- Vertical Analysis1:29
In this section we discuss the second type of financial statement analysis; trend analysis. This analysis compares individual amounts within the income statement or balance sheet to the totals (sales or total assets) to provide a percent to total amount.
- Ratio Analysis14:21
In this section we discuss the third type of financial statement analysis; ratio analysis. This analysis compares variety of individual numbers to other related numbers to provide meaningful insight into the health of the company.
- Quiz - Module 9 - Financial Statement Analysis
- Module 10 Video - Financial Accounting Wrapup1:34
In this video we wrap up the first two thirds of the course and summarize all of the concepts that are important in financial accounting. After this we will move into managerial accounting.
Requirements
- This is an introductory level accounting course, therefore no prerequisites are needed.
Description
In this course, we will cover several accounting topics related to both financial and managerial accounting. This course is geared towards those students entering MBA programs without a background in accounting, so no experience in accounting is required. However, the course would be useful to anyone wanting to learn more about these accounting topics.
We will spend the first 2/3 of the course going through financial accounting and the last 3rd going through managerial accounting. We will cover topics such as financial accounting concepts, the difference between financial and managerial accounting, journal entries, normal balances of accounts, posting to the T account and general ledger, unadjusted and adjusted trial balances, income statement, balance sheet, statement of cash flows, statement of owners equity, cash and the bank reconciliation, current assets, inventory, long term assets and depreciation, warranties, bonds, stock, equity, and dividends, budgeting, standard costs and variance analysis, relevant costs and special decisions.
This course will include one or more videos for each module. There will also be text materials covering each of the topic. For practice, there will be quizzes along the way, as well as a final exam to test your understanding of the materials.
I look forward to working with you throughout the course!
Who this course is for:
- This course is MBA level students that are not interested in going into accounting, but still need to learn about the basics of financial and managerial accounting.