Small Business Accounting

Course Descriptions:

This online accounting course explores the important aspects in accounting for small businesses. Types of business ownership, the framework for financial accounting, debts and credits, income statements, retail pricing, job order costing, interest, time value of money, and the statement of cash flows will be discussed in-depth throughout this course.

Students will Learn:

Learners will be able to identify the various types of business ownership, understand the communication through financial statements, identify a contribution margin income statement, assess job order costing, analyze cash and credit policy when offering and taking discounts, and understand the preparation and format of the statement of cash flows.

Course Modules:

Module 1 – Types of Business & The Accounting Ledger

  • Learning Objective: Identify the types of business ownership including LLCs, S-Corps, and Public ownership, assess the framework for financial accounting, understand communication through financial statements, analyze debts and credits, and gain a thorough understanding of the reporting and closing processes.

Module 2 – Statements & Cost-Volume-Profit

  • Learning Objective: Assess the multi-step income statement, describe the classified balance sheet and the links between statements, identify a contribution margin income statement, analyze prime and conversion costs, and identify payroll taxes and fringe benefits.

Module 3 – Breakeven & Other Analyses

  • Learning Objective: Evaluate breakeven analysis and mixed costs, identify target income, margin of safety, and degree of operating leverage, analyze an example of multiple product breakeven using sales mix, assess job order costing, and evaluate the markups and markdowns of retail pricing.

Module 4 – The Time Value of Money & Inventory

  • Learning Objective: Define simple and compound interest, understand the future and present value of a lump sum, assess future value examples and the time value of money in pricing, analyze cash and credit policy when offering and taking discounts, and define the lower-of-cost/market method.

Module 5 – Earned Capital & More Analyses

  • Learning Objective: Define stockholder’s equity, dividends, and ratio analysis, analyze careers in accounting, assess corporate ownership and the various types of stocks, understand the preparation and format of the statement of cash flows, and evaluate using ratios to assess risk and profitability.

Recommended Background:

  • The Small Business Accounting course is targeted toward independent learners, working professionals, and students that wish to gain or improve their accounting skills for small business.
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