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Corporate Finance and ERM (CFE) Track Old Exam DP - Design and Pricing

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Old 09-16-2013, 04:50 PM
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Mary Pat Campbell
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 93,714
Blog Entries: 6
Default Financial Accounting Course - free on Coursera

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Course Schedule
Week One: Introduction and Balance Sheet:

Video lectures posted on September 16, 2013 (all videos will be posted by 12:01 am U.S. Eastern Time on the start date)

Homework #1 based on this material due by September 29, 2013 (note that an extra week is given to accommodate late starters)

To learn a foreign language like Accounting, you need quite a bit of practice in the basic foundations (grammar, syntax, idioms, etc.). This material is not fun, but it is absolutely essentially for being able to read and to understand books written in the language (in our case, financial statements.). This week, we will starting building these foundations. We will start with an overview of financial reporting. What types of reports are required? Who makes the rules? Who enforces the rules? Then, we will cover the balance sheet equation and define/discuss Assets, Liabilities, and Stockholders' Equity. We will introduce debit-credit bookkeeping and do lots of practice in translating transactions into debits and credits. Finally, we will introduce a case of a start-up company to provide you insights into all of the steps necessary to go from recording the first transactions of a new business all the way through its first set of financial statements.

Week Two: Accrual Accounting and the Income Statement:

Video lectures posted on September 23, 2013

Homework #2 based on this material due by September 29, 2013

More foundations this week. If you are not sick and tired of journal entries by the end of this week, then I have not done my job! We will start with a discussion of Accrual Accounting and how it affects the recognition of the Income Statement accounts: Revenues and Expenses. Then, we will cover adjusting entries, which are needed to prepare our internal books for the upcoming financial statements. Finally, we will discuss closing entries and the preparation of the Balance Sheet and Income Statement. At each stage, we will continue to work on the case of our start-up company.

Week Three: Cash Flows:

Video lectures posted on September 30, 2013

Homework #3 based on this material due by October 6, 2013

Cash is King! In what will be our last "foundations" week (i.e., hard and not that much fun), we will talk about cash flows. We will start with the classification of cash flows into operating, investing, and financing activities. Then, we will work on preparing and analyzing the Statement of Cash Flows. We will wrap up the case on the start-up company by preparing and analyzing its Statement of Cash Flows. Finally, we will discuss the differences between Earnings, Cash from Operations, EBITDA, and Free Cash Flow.

Week Four: Working Capital Assets:

Video lectures posted on October 7, 2013

Homework #4 based on this material due by October 13, 2013

Now that we have a solid grasp of the foundations, we are going to work our way around the Balance Sheet to discuss various types of Assets, Liabilities, and Stockholders' Equity (along with their associated Revenues and Expenses) in more detail. We kick off with Accounts Receivable and the problem that some customers that buy goods on credit will not actually pay us. We will look at the computation, disclosure, and analysis of such "Bad Debts". We will also briefly discuss other Accounts Receivable issues such as Factoring and Securitization. Then, we will move on to Inventory. We will discuss how Inventory accounting differs between retail and manufacturing firms. We will see how companies figure out the cost of the inventory they sold, which requires assumptions about cost flows. This discussion will lead us into covering one of the most infamous accounting topics: LIFO.

Week Five: Ratio Analysis and Mid-course Exam:

Video lectures posted on October 14, 2013

Mid-course Exam posted on October 16, 2013, due by October 22, 2013

We will have our first of two exams this week. Because of the exam, I will cover Ratio Analysis, which will not involve any "new" material. While we will define and discuss a number of ratios, they will all basically involve dividing one accounting number by another. But, the analysis of what those ratios mean will involve a deep understanding of Balance Sheet and Income Statement accounts. Thus, the Ratio Analysis videos will help provide a nice review of the material so far, which will help you prepare for the exam.

Week Six: Long-lived Assets and Marketable Securities:

Video lectures posted on October 21, 2013

Homework #5 based on this material due by October 27, 2013

Back to new material! This week, we will cover assets that represent longer-term investments. We will start with Property, Plant, and Equipment, covering questions like: What gets included in these accounts? How are they depreciated? What happens if their value is impaired? Then, we will cover similar questions for Intangible Assets, including Goodwill. Finally, we will discuss how companies account for investments in debt and equity securities and how the treatment for equity investments in other companies is determined by how much of the other company is owned.

Week Seven: Liabilities and Long-term Debt:

Video lectures posted on October 28, 2013

Homework #6 based on this material due by November 3, 2013

We move to the right-hand side of the Balance Sheet this week with a look at Liabilities. We will start by covering time-value of money, which is the idea that $1 today is not worth the same as $1 in the future. Almost all liabilities involve a consideration of the time-value of money, so this will be an important foundation piece for you to understand. Then, we will cover accounting for bank debt, mortgages, and bonds. Next, we will move into the topic of "off-balance-sheet" liabilities with a discussion of Contingent Liabilities and Leases.

Week Eight: Deferred Taxes:

Video lectures posted on November 4, 2013

Homework #7 based on this material due by November 10, 2013

There are two certainties in life, and we will cover one of them this week (the other is beyond the scope of the course). We will NOT teach you how to prepare your own tax return. Instead, we will discuss how companies have to prepare "two sets of books": their financial statements and their tax returns. The rules are different for these two sets of books, leading to permanent differences and to temporary differences. We will cover both types of differences, with a main focus on "deferred taxes", which are the byproduct of temporary or timing differences between tax reporting and financial reporting. Finally, we will touch on other tax issues, such as Net Operating Loss Carryforwards and the rule that requires companies to disclose how much they are trying to cheat on their taxes (sorry, that should say "use tax planning strategies to manage their taxable income").

Week Nine: Stockholders' Equity:

Video lectures posted on November 11, 2013

Homework #8 based on this material due by November 17, 2013

Our final week of new material ends at the bottom of the Balance Sheet: Shareholders' Equity. We will talk about issuing stock, repurchasing stock, Treasury Stock, stock dividends and splits, Accumulated Other Comprehensive Income, and stock-based compensation. We will also finally cover the fourth required financial statement: the Statement of Stockholders' Equity.

Week Ten: How to Read an Annual Report and Final Exam:

Video lectures posted on November 18, 2013

Final Exam posted on November 20, 2013, due by November 27, 2013

Final Exam week! The video lectures will give tips on how to read an annual report. These lectures will also surreptitiously review the material that we covered in the course. The final exam will be posted mid-week and be due by November 27, 2013, which is the day before Thanksgiving Day in the United States. Even if you are not an American, you will certainly be giving thanks on November 28 because the course will be over and you will be able to impress your family, friends, and co-workers with your vast knowledge of Financial Accounting!

This might be helpful for people on this track.
It's STUMP - meep on public finance, pensions, mortality, and more

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