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
$95.00
no certificate
- OR -
$120.00
with CEU Certificate*
Start Right Now!
$120.00 (with CEU Certificate)
Taking multiple courses? Save with our platinum program.
 
  • 12
    Lessons
  • 19
    Exams &
    Assignments
  • 818
    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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Identify and describe the key principles of GAAP, including accrual basis, consistency, economic entity assumption, and monetary unit principle, and apply them to real-world scenarios.
  • Define and explain the five foundational types of accounts in modern accounting, including assets, liabilities, equity, revenues, and expenses.
  • Identify and differentiate between SEC Form 10-K and Form 10-Q in terms of reporting requirements and the type of information they contain.
  • Recognize the importance of accurate financial statements for strategic decision-making and transparency among stakeholders.
  • Demonstrate the ability to accurately itemize and interpret each major component of an income statement, including revenues, expenses, and net profit.
  • Differentiate between the single-step and multi-step income statement formats and explain their advantages and limitations in financial analysis.
  • Analyze a company's financial health and solvency by interpreting the balance sheet's disclosure of assets, liabilities, and stockholders' equity according to established financial metrics.
  • Identify and categorize assets and liabilities on a balance sheet to evaluate a company's financial position at a specific point in time.
  • Define and describe the key components of the statement of stockholders' equity, including contributed and earned capital.
  • Demonstrate the ability to analyze the impact of financial transactions, such as stock buybacks and dividends, on shareholders' equity.
  • Analyze and interpret a company's statement of cash flows using direct and indirect methods to assess financial health and operational efficiency.
  • Define and differentiate the three categories of cash flows—operating, investing, and financing activities—and explain their role in financial decision-making.
  • Define and compare the concepts of cash flow and working capital, illustrating their distinct roles in assessing a company's financial health and liquidity.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
 
Course Title: Accounting Level 2: Company Financials
Course Number: 57700109
Languages: English - United States, Canada and other English speaking countries
Availability: This course is accessible online throughout all states, including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. It's also available in top English-speaking countries like the United Kingdom, Canada, Australia, and New Zealand.
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

Choose Your Subscription Plan

Course Only
One Course
No Certificate / No CEUs
$95
for 6 months
 
Add to Cart
Billed once
This course only
Includes certificate X
Includes CEUs X
Self-paced Yes
Instructor support Yes
Time to complete 6 months
No. of courses 1 course
Certificate Course
One Course
Certificate & CEUs
$120
for 6 months
 
Add to Cart
Billed once
This course only
Includes certificate Yes
Includes CEUs Yes
Self-paced Yes
Instructor support Yes
Time to complete 6 months
No. of courses 1 course
Platinum Yearly
ALL COURSES
Certificates & CEUs
$189
per year
 
Start Now
Billed once
Includes all 600+ courses
Includes certificate Yes
Includes CEUs Yes
Self-paced Yes
Instructor support Yes
Time to complete 12 Months
No. of courses 600+
Platinum 2 Years
ALL COURSES
Certificates & CEUs
$299
for 2 years
You save $79.00!
Start Now
Billed once
Includes all 600+ courses
Includes certificate Yes
Includes CEUs Yes
Self-paced Yes
Instructor support Yes
Time to complete 24 Months
No. of courses 600+
 

Related Courses