4.8
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406 évaluations

96 %

Greg Miller

30 243 déjà inscrits

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Accounting for Decision Making

Université du Michigan

À propos de ce cours

30 200 consultations récentes

Through this course, you will start by addressing the two “big questions” of accounting: “What do I have?” and “How did I do over time?” You will see how the two key financial statements – the balance sheet and the income statement - are designed to answer these questions and then move on to consider how individual transactions aggregate to make up these financial statements. After developing a broad understanding of accounting and financial statements, you will begin to develop a more nuanced understanding of individual components of doing business, such as making a sale or building inventory.  By considering many of the more common actions of a company, you will build your understanding of accounting, and explore these concepts by applying them across various types of transactions. Once you understand these individual concepts better, you will be ready to return to the overall financial statements and use them as informational tools, including building ratios.
You can do this course standalone or to qualify for the residential component of the Finance for Strategic Decision-Making Executive Education program.  For more information, see the FAQ below.

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Approx. 30 heures pour terminer

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Certificat partageable

Obtenez un Certificat lorsque vous terminez

100 % en ligne

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Niveau intermédiaire

Approx. 30 heures pour terminer

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Enseignant

Évaluation de l'enseignant

4,86/5 (89 évaluations)

Greg Miller

Professor

Ross School of Business

31 226 étudiants

3 cours

Offert par

Université du Michigan

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Programme de cours : ce que vous apprendrez dans ce cours

Évaluation du contenu96%(3,840 évaluations)

Semaine

Semaine 1

5 heures pour terminer

Why Do We Have Accounting and How Can You Make it Work for You?

Every organized society needs information about its activities and accomplishments. Accounting was created to fulfill this need. In this module we will explore how accounting was designed to meet the needs of decision makers and what this means to you as a user of accounting information. We will discuss the concept behind accrual accounting including introducing the two primary accrual accounting financial statements - the balance sheet and income statement. This module will discuss the purpose and goal of those financial statements, but we will save your experience in creating those statements until module two. In lesson two of this module, we will explore some basic bookkeeping tools that will get you ready to create a set of financial statements. The material in this module is likely to take less than a week, but we will make up for it in module two.

5 heures pour terminer

10 vidéos (Total 95 min), 8 lectures, 4 quiz

10 vidéos

Welcome14 min

Why Do We Have Accounting?10 min

What is Accrual Accounting?8 min

What is a Balance Sheet?9 min

What is an Income Statement?8 min

Comparing the Two Statements6 min

Transactions to Financial Statements4 min

Journal Entries10 min

T-Accounts15 min

Using T-Accounts for Account Analysis6 min

8 lectures

The Structure of the Course10 min

The Syllabus10 min

New Course Syllabus5 min

Help us learn more about you!10 min

Introduction and Overview of Lesson One2 min

Introduction and Overview of Lesson Two3 min

Notice for Auditing Learners: Assignment Submission10 min

Transactions for quiz10 min

4 exercices pour s'entraîner

Overview Material30 min

Transactions and Journal Entries30 min

T-Accounts and Other Ways to Post30 min

Module One Test30 min

Semaine

Semaine 2

5 heures pour terminer

The Accounting Cycle and Bookkeeping: Foundational Tools for a Deeper Understanding

In this module we will create a set of accrual accounting financial statements. We will use that experience to walk you through the accounting cycle - which is the process by which accounting captures and aggregates all of the transactions in the period into a set of financial statements. We will examine each step in the accounting cycle using a comprehensive example of a start up wholesale book retailer. You will learn how the steps combine to create the statements. In addition to the comprehensive example we will do together, there will be plenty of chances to practice each step yourself. This module ends with a chance for you to build your own set of financial statements for a start up company. Fair warning: in my opinion this is the least exciting material covered in any accounting class (including this one). It is the basic bookkeeping process, not the interesting part of building an understanding of the business. But just as you need to learn basic addition and subtraction before you can master the math to design a beautiful building, you also need to learn basic bookkeeping as a foundation for the more interesting accounting.

5 heures pour terminer

7 vidéos (Total 81 min), 6 lectures, 5 quiz

7 vidéos

An Overview of the Accounting Cycle12 min

Comprehensive Example Set Up4 min

Recording Externally Prompted Transactions23 min

Recording Adjusting Journal Entries10 min

Recording Closing Journal Entries9 min

Making an Income Statement7 min

Making a Balance Sheet11 min

6 lectures

Introduction and Overview of Lesson Three3 min

Introduction and Overview of Lesson Four3 min

Introduction and Overview of Lesson Five3 min

Introduction and Overview of Lesson Six5 min

Instructions for Quiz10 min

Transactions to be Used for the Quiz10 min

5 exercices pour s'entraîner

Quiz on Introduction to the Accounting Cycle30 min

Transaction Entries25 min

Adjusting and Closing Journal Entries30 min

Quiz Financial Statements30 min

Accounting Cycle Comprehensive Quiz1h 30min

Semaine

Semaine 3

3 heures pour terminer

Revenue, Accounts Receivable, Inventory and Cost of Goods Sold

In the last module we took an overview perspective to get a sense of the structure of financial statements. For the next three modules we are going to delve into the details of specific items on the accrual financial statements. We will work through the most common items on the balance sheet and income statement to develop an understanding of those items. While we will consider specific items, we will also be building a thought process that we can apply to any future accounting items - even if they are topics that we do not cover in this course. That will allow you to confidently use accounting for years to come, regardless of changes in items or in the specific accounting rules.

3 heures pour terminer

7 vidéos (Total 63 min), 2 lectures, 4 quiz

7 vidéos

The Economics of Value Creation9 min

Accounting Guidance on Revenue Recognition8 min

Bookkeeping for Revenue Recognition3 min

Accounting for the Allowance for Doubtful Accounts and the Bad Debt Expense9 min

What goes into Inventory and Cost of Goods Sold14 min

Which One Did We Sell? Inventory Cost Flow Assumptions14 min

Bookkeeping for Inventory Transactions4 min

2 lectures

Introduction and Overview of Lesson Seven5 min

Introduction and Overview of Lesson Eight5 min

4 exercices pour s'entraîner

Revenue20 min

Allowance for Doubtful Accounts20 min

Inventory and Cost of Goods Sold20 min

Module Three Test30 min

Semaine

Semaine 4

5 heures pour terminer

Long-Lived Assets

As firms operate, they often use long-lived assets to execute their business models. Some of these assets are tangible, such as factories or computers. Others are intangible, such as trademarks and brands. In either case, managers face the issue of determining how much of these items were used in each period as well as the related question of how much remains. In this module, we will examine the economics of such transactions as well how accountants reflect them on financial statements. This module will also cover the most nebulous of intangible assets - goodwill.

5 heures pour terminer

10 vidéos (Total 64 min), 5 lectures, 6 quiz

10 vidéos

How Do We Think About Long Lived Assets?9 min

Basic Bookkeeping for Depreciation5 min

Changing Depreciation Estimates4 min

Selling an Asset6 min

When an Asset is used to make another Asset9 min

How Do We Think About Non-Physical Assets?7 min

Bookkeeping for Amortization and Intangibles3 min

What is Goodwill?4 min

Calculating Goodwill8 min

Asset Impairments6 min

5 lectures

Introduction and Overview of Lesson Nine2 min

Introduction and Overview of Lesson Ten3 min

Introduction and Overview of Lesson Eleven1 min

Introduction and Overview for Lesson Twelve2 min

Introduction and Overview of Lesson Thteen2 min

6 exercices pour s'entraîner

Basics of Depreciation30 min

Liabilities and Stockholders Equity

In the last two modules we have been exploring assets and their impact on both the balance sheet and income statement. In this module we will turn to discussing the other two components of the balance sheet: liabilities and owners equity.As firms operate, they make promise to deliver value to other entities. Accountants call these promises liabilities. You have already seen some liabilities as we discussed assets - after all, you get many assets by promising to give up future value. We will review those liabilities here as well as introducing a few new ones.

3 heures pour terminer

7 vidéos (Total 56 min), 4 lectures, 5 quiz

7 vidéos

An Overview of Liabilities5 min

Deferred Revenue5 min

What is a Contingent Liability?9 min

Bookkeeping for Contingent Liabilities9 min

The Economics of Interacting with Owners6 min

Basic Bookkeeping for Equity9 min

Treasury Stock9 min

4 lectures

Introduction and Overview Lesson Fourteen3 min

Introduction and Overview Lesson Fifteen3 min

Introduction and Overview Lesson Sixteen10 min

Introduction and Overview for Lesson Seventeen2 min

5 exercices pour s'entraîner

Basic Liabilities, including Deferred Revenue30 min

Contingent Liabilities30 min

Basic Equity Transactions20 min

Treasury Stock10 min

Liabilities and Stockholders Equity30 min

Semaine

Semaine 6

3 heures pour terminer

Cash Flow Statements

We have been spending our time developing the concepts of accrual accounting. We started with the big picture, learned how to use bookkeeping to construct accrual statements and then spent the last three modules deep diving into various accrual accounting topics that help to create a useful set of financial statements. Throughout that time we have focused on capturing economics, not just cash flow. Of course, many of you still want to know about cash (so do I - it is important). But I have put off the cash flow statement for two reasons. First, I wanted you to really give accrual accounting a chance. If we mix cash in from the beginning, most students seem to drift back to cash every time things get a little complicated. But we have demonstrated that often leads to misinformed choices.

Second, the cash flow statement effectively requires you to "undo" accrual accounting. That means you have to know accrual accounting pretty well to do a cash flow statement. I am going to be honest (I have all along, after all). The cash flow statement is tough. It seems like it should be really straight forward. Parts of it are. But a few choices were made when the cash flow statement rules were set. The choices make sense (well, somewhat), but they also make cash flow statements hard. We will break it down into pieces to make it approachable, but it is my experience that people need to see this multiple times. Lucky for you, the videos can be watched as often as you want. In this module I will systematically walk you through how cash flow statements are constructed. We will start with a cash T account and build statements from there. Our goal is to build an understanding of what information you can take from a cash flow statement. We are going to spend an entire week just on the cash flow statement. At the end of that week, I will expect you can understand an overall statement, but I will not expect you to be able to build one from scratch. Finally, I want to point out that this module is an inflection point in the course. We started looking at the idea of financial statements and creating broad statements in modules one and two. In modules three through five we began to look at the financial statements one item at a time. With this module we are moving back to the overall statement level, which is the perspective we will also take next module (which will be our last).

3 heures pour terminer

7 vidéos (Total 64 min), 3 lectures, 4 quiz

7 vidéos

Why Do We Have Cash Flow Statements?5 min

Putting Cash into Categories8 min

Direct Cash Flow Example7 min

What is an Indirect Cash Flow Statement14 min

Indirect Cash Flow Example8 min

Changes in Working Capital13 min

Indirect with Changes in Working Capital Example4 min

3 lectures

Introduction and Overview of Lesson Eighteen4 min

Introduction and Overview of Lesson Nineteen4 min

Introduction and Overview Lesson Twenty3 min

4 exercices pour s'entraîner

Introduction to Cash Flows and Direct Cash Flow Statements30 min

Indirect Cash Flow Statements30 min

Changes in Working Capital Approach15 min

Cash Flow Statements30 min

Semaine

Semaine 7

5 heures pour terminer

Ratios and Course End Assessment

We have covered a lot of ground. You now are familiar with financial statements and the underlying transactions that create them. Our goal is to help you use accounting to make decisions and you have surely gotten much better at that. Now we get the big payoff - we learn how to build ratios to provide insights regarding the decisions we are making (maybe even to help us decide what types of decisions we should consider). We have seen a few ratios as we went through the course, but in this module we are going to discuss how to go about making your own ratios related to whatever question you want to answer. I think you will be surprised to find how easy it is now that you understand accounting. In fact, it is so easy that it will be just a couple of short lessons.

5 heures pour terminer

8 vidéos (Total 43 min), 6 lectures, 4 quiz

8 vidéos

What is a Ratio?6 min

Warnings About Ratios9 min

Build Your Own Ratios7 min

Stock Over Stock3 min

Flow Over Flow3 min

Stock and Flow Ratios5 min

Congratulations1 min

Greg Miller and Gautam Kaul4 min

6 lectures

Introduction and Overview of Session Twenty One2 min

Introduction and Overview of Lesson Twenty Two1 min

Comprehensive Evaluation3 min

Go further10 min

Post-Course Survey10 min

Keep Learning with Michigan Online10 min

4 exercices pour s'entraîner

Introduction to Ratios30 min

Build Your Own Ratios30 min

Ratios30 min

Cumulative Final Exam2 h

Avis

4.8

111 avis

5 stars
83,99 %
4 stars
12,06 %
3 stars
1,97 %
2 stars
0,98 %
1 star
0,98 %

Meilleurs avis pour ACCOUNTING FOR DECISION MAKING

par NS9 oct. 2018

With no prior knowledge of accounting it's surprising how easy it is to progress through the course. professor Miller has an amazing ability to explain new concepts in an easy to understand manner!

par UR7 nov. 2020

adding merchandising operations would have been great. Otherwise, it's a very informative course.

par JS4 nov. 2022

Excellent course..

trainer explained the topics in very simple and effective manner.

par JS6 sept. 2022

This course is very helpful and teach a lot of things about accounting, finacing, and calculating , goodwill, incoming statement etc.

Voir tous les avis

Foire Aux Questions

Quand aurai-je accès aux vidéos de cours et aux devoirs ?
L’accès à des vidéos de cours et des devoirs dépend de votre type d’inscription. Si vous suivez un cours en mode auditeur libre, vous pourrez voir la plupart des contenus de cours gratuitement. Pour accéder aux devoirs notés et obtenir un certificat, vous devrez acheter une expérience de certificat, pendant ou après avoir assister au cours en tant qu’auditeur libre. Si vous ne visualisez pas l’option auditeur libre :
Il est possible que le cours ne propose pas d’option auditeur libre. Vous pouvez en revanche accéder à un essai gratuit ou faire une demande d'aide financière.
Le cours propose peut-être « Cours complet, aucun certificat » à la place. Cette option vous permet de voir tous les contenus de cours, de soumettre les évaluations requises et d'obtenir une note finale. Cependant, vous ne pourrez pas acheter une expérience de certificat.
À quoi ai-je droit si j'achète le Certificat ?
Lorsque vous achetez un Certificat, vous bénéficiez d'un accès à tout le contenu du cours, y compris les devoirs notés. Lorsque vous avez terminé et réussi le cours, votre Certificat électronique est ajouté à votre page Accomplissements. À partir de cette page, vous pouvez imprimer votre Certificat ou l'ajouter à votre profil LinkedIn. Si vous souhaitez seulement lire et visualiser le contenu du cours, vous pouvez accéder gratuitement au cours en tant qu'auditeur libre.
Une aide financière est-elle possible ?
Oui. Dans certains programmes d’apprentissage, vous pouvez demander une aide financière ou une bourse d’études si vous ne pouvez pas payer les frais d’inscription. Si une aide financière ou une bourse d’études est disponible pour le programme d’apprentissage choisi, vous trouverez un lien pour faire une demande sur la page de description.
What are the various ways in which I can take this course?
You can do this course standalone or to qualify for the residential component of the Finance for Strategic Decision-Making Executive Education program.
Q. What is the Finance for Strategic Decision-Making Executive Education program?
The Finance for Strategic Decision-Making Executive Education program is a hybrid learning opportunity consisting of two digital courses in Accounting and Finance and a companion in-person experience working hands-on with the faculty and your classmates with data and real world problems to identify solutions and opportunities. With this new blended learning program, Michigan Ross is the 1st to combine the ease of access via digital learning with a unique, in-person direct application experience, all with the rigor expected from a globally top ranked business school. You will have to earn a verified certificate in the course to be eligible for the face-to-face program at the Ross School of Business. To learn more, visit http://michiganross.umich.edu/financestrategy.
Why is the pricing of the verified certificates different from the Finance course?
The pricing of the verified certificate is different depending on whether the course is stand alone, as is the case with the Accounting course, or if the course is part of a Specialization, as is the Finance course. All specializations are offered on a monthly subscription model.
For the Finance for Strategic Decision-Making Executive Education program, do I need to to take the courses in any particular order?
While the online courses can be taken in any order, generally completion of the Accounting course is recommended before the Finance portion as the application of concepts of Accounting are helpful to completing the Finance course.
What would I gain from taking the Strategic Decision-Making Executive Education program?
You will gain:
-An understanding of the structure of accounting information that is used to make decisions
-Comfort in using financial statement information to analyze a situation.
-The ability to synthesize information from various sources to develop a deeper understanding of a situation
-The skills to analyze financial ratios as well as creating ratios and metric that are custom to the issue you are studying
-A deep understanding of analytical and financial frameworks to make value-enhancing decisions
-The ability to conduct detailed and rigorous valuation analyses of both projects and companies
-Comfort in understanding the financial analyses conducted by colleagues in your organization in proposals and critiques

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Accounting for Decision Making

Accounting for Decision Making

À propos de ce cours

Enseignant

Greg Miller

Offert par

Université du Michigan

Programme de cours : ce que vous apprendrez dans ce cours

Why Do We Have Accounting and How Can You Make it Work for You?

The Accounting Cycle and Bookkeeping: Foundational Tools for a Deeper Understanding

Revenue, Accounts Receivable, Inventory and Cost of Goods Sold

Long-Lived Assets

Liabilities and Stockholders Equity

Cash Flow Statements

Ratios and Course End Assessment

Avis

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Accounting for Decision Making

Accounting for Decision Making

À propos de ce cours

Enseignant

Greg Miller

Offert par

Université du Michigan

Programme de cours : ce que vous apprendrez dans ce cours

Why Do We Have Accounting and How Can You Make it Work for You?

The Accounting Cycle and Bookkeeping: Foundational Tools for a Deeper Understanding

Revenue, Accounts Receivable, Inventory and Cost of Goods Sold

Long-Lived Assets

Liabilities and Stockholders Equity

Cash Flow Statements

Ratios and Course End Assessment

Avis

Meilleurs avis pour ACCOUNTING FOR DECISION MAKING

Foire Aux Questions

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