Business Finance and Accounting

Learning objectives (CED)

• 3.3.AExplain why businesses and consumers track and evaluate financial data.
• 3.3.BDescribe the roles of accounting and finance departments in the preparation, reporting, and use of financial information.

Lessons

• Accounting and Financial Management

  Why businesses and consumers track financial data, GAAP disclosure, and the roles of managerial accountants, financial accountants and finance departments.

  15 min Reviewed

Learning objectives (CED)

• 3.4.ADetermine startup costs associated with launching a new business or product.
• 3.4.BDescribe expenses associated with operating a business.

Lessons

• Business Expenses

  Startup costs, direct vs. indirect and fixed vs. variable costs, COGS and cost of sales, operating expenses, and insurance.

  20 min Reviewed

Learning objectives (CED)

• 3.5.AExplain why businesses seek external financial capital.
• 3.5.BDetermine potential sources of financial capital for a business.
• 3.5.CDescribe potential benefits and risks to lenders and investors who provide financial capital to businesses.
• 3.5.D

Learning objectives (CED)

• 3.6.ADetermine and describe components of a business income statement.
• 3.6.BEvaluate the financial performance of a business using income statement information.
• 3.6.CExplain why and how businesses and consumers predict and plan for future income and expenses.
• 3.6.D

Learning objectives (CED)

• 3.7.ADetermine and describe components of a business balance sheet.
• 3.7.BInterpret the information in a business’s balance sheet.
• 3.7.CDescribe the purpose of determining personal net worth.

Lessons

Learning objectives (CED)

• 3.8.ADetermine and describe components of a business’s cash flow statement.
• 3.8.BExplain how a business’s stakeholders use cash flow statement information.

Lessons

• The Cash Flow Statement

  Cash inflows and outflows, why profitable businesses can still run out of cash, and how stakeholders use cash flow information.

  15 min Reviewed

Learning objectives (CED)

• 3.9.AExplain why an individual or a business might be incentivized to engage in unethical financial management and reporting practices.
• 3.9.BExplain how laws and professional codes of conduct encourage ethical behavior by accounting and financial managers.

Lessons

• Ethics and Financial Reporting

  Why unethical financial practices happen, and the laws, audits, professional codes and internal controls that discourage them.

  15 min Reviewed