ImperialBusinessX: ICBS001 Accounting Essentials for MBA Success
Background Want to study for an MBA but unsure of your basic accounting skills?
Paving the way for MBA study, this course will teach you the foundational accounting skills needed to achieve success on an MBA program and in business generally. You will be introduced to the principles of accounting and learn about the basic financial statements, including the income statement, the balance sheet and the cash flow statement. You will learn how to read and interpret this information in order to make informed business decisions. This course assumes no prior knowledge of accounting. Concepts are explained clearly and regular activities offer you the opportunity to practice your skills and improve your confidence.
Course Outline
● How to create and interpret the three basic accounting statements - the income statement, the balance sheet and the cash flow statement
● How management accounting differs from financial accounting
● How financial information is used on an MBA program and in business to make informed decisions
Goal Accomplishment Criteria
закончила курс, прошла тест мин на 70%
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Topic 1 - Accounting essentials
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What is accounting?
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Statement of principles
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Different types of business identity
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The major accounting statements
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Classifying items
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Test your knowledge: Introduction to accounting
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Topic 2 - Measuring wealth
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The income statement
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Preparing the income statement (optional)
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The balance sheet
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The format of the balance sheet
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Preparing the balance sheet (optional)
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How the income statement relates to the balance sheet
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Real-world valuation of assets
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Test your knowledge: Measuring wealth
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Topic 3 - Finalising the accounts
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Making adjustments to income and expenses
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Accounting for late adjustments (fixed assets)
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Bad debts
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Test your knowledge: Finalising the accounts
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Topic 5 - How to make short term decisions
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Financial versus management accounting
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The decision making process
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Costing terms
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Cost behaviour
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Cost volume profit analysis: Part one
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Cost volume profit analysis: Part two
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Test your knowledge: How to make short term decisions
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Topic 6 - How to make long term decisions
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How long does it take for a long term investment to pay for itself?
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How does the timing of the investment returns affect the value of the investment?
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Test your knowledge: How to make long term decisions
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Assessment
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Final review
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End of course assessment
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What next?
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Topic 4 - Tracking your cash flow
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Cash flow versus profit
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Components of the cash flow statement
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Format of the cash flow statement
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Preparing the cash flow statement (optional)
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Preparing multiple statements (optional)
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Test your knowledge: Tracking your cash flow
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