Accounting and Finance for Entrepreneurs

This course provides an introduction to key topics in accounting and finance for those involved in new ventures. It reviews financial accounting basics, including GAAP Principles and financial statements, and also covers key issues in finance, broadly defined as any financial or monetary activity that involves a company.

Learning Outcomes:

Understand and explain the assumptions and principles that underlie Generally Accepted Accounting Principles (GAAP)

Understand and explain the rules of double-entry accounting

Calculate the balance of the account

Define the steps that make up the accounting cycle

Describe the relationship between the major financial statements that make up an annual report

Explain the role of finance in the entrepreneurial process

Understand the importance of budgeting and financial planning

Identify and explain the three major pricing strategies

Define and distinguish between fixed and variable costs

Calculate the components of a master (static) budget

Prepare a cash budget

Prepare and analyze pro forma financial statements

Develop a basic financial plan

Use pro forma financial statements to evaluate a new venture

Explain the factors and assumptions involved in break-even analysis

Calculate Return on Investment (ROI) and payback period

Credits:

IACET CEUs: 0.5 (Contact Hours: 5 hours)

ATD CI Credits: 5

HRCI Credits: 5

SHRM PDCs: 5