Online Class: Accounting Level 2 — Company Financials

Accounting is the language of business. However, the real language of business lies within accounting--inside the financial statements and financial reporting system
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$120.00 (with CEU Certificate)
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  • 12
    Lessons
  • 12
    Exams &
    Assignments
  • 798
    Students
    have taken this course
  • 7
    Hours
    average time
  • 0.7
    CEUs
 
 
 

Course Description

Accounting is the language of business. However, the real language of business lies within accounting--inside the financial statements and financial reporting system. The purpose of this course is to provide a business financial communication tool. Financial statements such as the balance sheet, income statement, statement of cash flow, and the statement of stockholders' equity are all used as communication tools to answer questions about the state of a company's financial well-being; they provide insight into the financial position and the financial health of a company over a defined period of time.

This course walks the learner from the beginning stages of accounting and GAAP principles, through the balance sheet, income statement, statement of cash flow, and statement of stockholders' equity. Next, the course discusses applied financial statement analysis involving the movement of cash flow through a company and its effects, along with financial ratio analysis which greatly helps stock investors make investment decisions. Finally, the course covers accounting fraud, the mechanisms of fraud, how to spot fraud, and even the methods that are used by unscrupulous accountants and business managers to commit fraud or "cook the books".

This course provides learners with a solid understanding of financial statements. This financial knowledge is used by accountants, managers, and investors to make smart and strategic business decisions.

Courses Frequently Bought Together:
  • Completely Online
  • Self-Paced
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 
 

Course Lessons

Lesson 1. Charting Financial Landscapes: GAAP and FASB

As globalization progresses, the convergence of FASB's GAAP with IASB's IFRS illustrates a harmonizing of accounting standards worldwide, enhancing cross-border financial communication. This alignment fosters corporate consistency, giving multinational corporations like Coca-Cola uniformity in financial reporting amid varied regulatory environments. 20 Total Points
  • Lesson discussions: Reasons for Taking this Course
  • Assessment: Lesson 1 Review Exam

Lesson 2. Form 10-Q: The Quick Glimpse at Corporate Financial Status

An organization's financial statements not only offer a snapshot of business performance to stakeholders but also ensure compliance with regulatory bodies through detailed submissions like Forms 10-K and 10-Q. Such filings facilitate a consistent financial reporting structure crucial for investor relations and strategic growth planning. 20 Total Points
  • Assessment: Lesson 2 Review Exam

Lesson 3. Understanding Income Statements

An income statement acts as a narrative tool that illustrates a company's financial performance by detailing revenues, expenses, gains, and losses, helping stakeholders assess its efficiency and profitability. It is structured to show the flow of net sales to net income, enabling a transparent view of financial health over a specific period. 20 Total Points
  • Assessment: Lesson 3 Review Exam

Lesson 4. Assets, Liabilities, Equity: The Trinity of Financial Clarity

The balance sheet serves as a critical financial statement, providing a snapshot of a company's financial status by outlining its assets, liabilities, and equity. This insight is essential for evaluating a company's stability and potential for growth. 20 Total Points
  • Assessment: Lesson 4 Review Exam

Lesson 5. Stockholders' Equity Simplified

Historical equity arrangements offer lessons on ownership division and impact on financial outcomes, illustrated by Bill and Steve's partnership adjustments in Texas. Modern investments must weigh strategic employee incentives against potential equity dilution for long-term success. 20 Total Points
  • Assessment: Lesson 5 Review Exam

Lesson 6. Mastering Cash Flows for Business Stability

Cash flow management is paramount, as an enterprise with strong income may still face liquidity troubles if cash flow is misaligned, jeopardizing its ability to cover short-term obligations. Hence, strategic understanding and regulation of cash movements ensure business expansion capabilities while maintaining operational stability. 20 Total Points
  • Assessment: Lesson 6 Review Exam

Lesson 7. The Art of Cash Flow and Working Capital Synergy

Operating activities in cash flow statements highlight how well a business generates cash from its core operations, revealing true financial health beyond net income figures. Critical adjustments transform net profit into cash basis figures, underscoring the importance of effective working capital management. 20 Total Points
  • Assessment: Lesson 7 Review Exam

Lesson 8. Financial Ratio Analysis Demystified

Financial ratio analysis acts as a crucial navigational tool for businesses, offering insights into financial health and performance. While it helps forecast and tackle liabilities, its effectiveness depends on understanding both qualitative and quantitative data. 20 Total Points
  • Assessment: Lesson 8 Review Exam

Lesson 9. Strategic Business Analysis: Understanding Key Ratios

By examining ratios like inventory turnover and accounts payable turnover, businesses can refine their operational efficiency and manage supplier relationships. These insights offer clear indicators of potential improvements in purchasing practices and payment strategies. 19 Total Points
  • Assessment: Lesson 9 Review Exam

Lesson 10. Decoding Business Success: Mastering Financial Ratios for Strategic Insights

Liquidity and solvency ratios are essential for evaluating a company's capacity to meet its short-term and long-term obligations, respectively. By analyzing current and quick ratios, alongside debt and interest coverage ratios, stakeholders can gauge financial stability and sustainability. 20 Total Points
  • Assessment: Lesson 10 Review Exam

Lesson 11. Financial Statement Fraud: Causes and Effects

As technology increases and the world becomes more reliant on financial data for global interaction, there is a greater risk for financial fraud to occur. 20 Total Points
  • Assessment: Lesson 11 Review Exam

Lesson 12. Financial Fraud Unveiled: A Deep Dive into Corporate Malpractices

Financial fraud, like the Enron scandal, exposed the damaging effects of manipulating corporate financial records and the need for transparency. Legislative efforts like the Sarbanes-Oxley Act aim to restore trust by making corporate executives accountable for their financial reporting. 20 Total Points
  • Lesson discussions: End of Course Poll; Course Comments; Course Comments
  • Assessment: Lesson 12 Review Exam
239
Total Course Points
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Define the five foundational types of accounts (assets, liabilities, equity, revenues, and expenses) and explain their relevance in creating financial statements.
  • Demonstrate knowledge of key GAAP principles (accrual basis, consistency, economic entity assumption, monetary unit principle) by applying them to various accounting scenarios.
  • Define the role of SEC filing requirements, including Forms 10-K and 10-Q, in ensuring financial transparency and regulatory compliance for publicly traded companies.
  • Identify and explain the significance of the balance sheet equation, highlighting how assets, liabilities, and equity interconnect to present an organization's financial position at a specific point in time.
  • Differentiate between single-step and multi-step income statement formats, explaining their structures and the insights they provide into company performance.
  • Recognize and itemize the major components of an income statement, including net sales, COGS, gross profit, operating expenses, and net profit.
  • Define and categorize the components of a balance sheet, including assets, liabilities, and stockholders' equity, to assess a company's financial position accurately.
  • Demonstrate the ability to analyze and interpret a traditional versus a consolidated balance sheet to evaluate a company's aggregate financial position, highlighting key differences and their implications.
  • Demonstrate understanding of stockholders' equity by evaluating real-world examples, illustrating its effect on corporate strategy and shareholder outcomes.
  • Recognize the impact of contributed and earned capital on a corporation's financial health by analyzing the components of a statement of stockholders' equity.
  • Demonstrate the ability to analyze a company's financial health and decision-making strategies by evaluating its statements of cash flows using the indirect method.
  • Describe the three classifications of cash flows—operating, investing, and financing activities—by outlining their specific functions and impacts on business operations.
  • Analyze the relationship between working capital adjustments and cash flow changes to identify potential liquidity issues within a business.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
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Course Title: Accounting Level 2: Company Financials
Course Number: 57700109
Languages: English - United States, Canada and other English speaking countries
Availability: This course is offered online and is accessible in every state across the U.S., including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. Learners in English-speaking countries like Canada, Australia, the United Kingdom, and South Africa can also enroll.
Last Updated: August 2024
CEU Value: 0.7 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Course Type: Self-Paced, Online Classes
Assessment Method: Lesson assignments and review exams
Instructor: Linda Zavadil
Syllabus: View Syllabus
Course Fee: $120.00 U.S. dollars

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