The basics of Business knowledge fall into nine disciplines namely Marketing, Ethics, Accounting, Organizational Behavior, Quantitative Analysis, Finance, Operations, Economics, and Strategy. The combination of knowledge from all of these disciplines is what makes Business studies valuable. This synchronized, multidisciplinary approach is usually absent in apprentice business curriculum. By learning about business accounting concepts and ratio analysis at once, in one crash course, you have the opportunity to produce Business knowledge the way you would at the best business schools.
Course outline
Cash Basis accounting
- The method of recording transactions only when cash changes hands.
Accrual Basis Accounting
- The method of recording transactions that matches revenues and expenses regardless of cash flow movements
The Balance Sheet
- The listing of what a company owns and owes at a point in time
The Fundamental Accounting Equation
- Assets = Liabilities + Owners’ Equity
Net Working Capital
- Short-term assets less short-term liabilities
The Income Statement
- The summary of profit-generating activities during a period of time
Gross Margin
- Revenues less the direct cost of goods sold
The Statement of Cash Flows
- The summary of how a company generates and uses its cash during a period of time
Depreciation
- The cost of using equipment allocated over its useful life
The 8 Basic Ratios for Financial Statement Analysis
- A method of analyzing statements and comparing them to industry standards
Price and Volume Variances
- A method of explaining operational results by isolating the effects of price and volume differences from budgeted amounts
Activity-Based Costing (ABC)
- The method of allocating overhead expenses based on actual usage, not on arbitrary measure