|
Forget debits & credits, this is accounting for finance! (more)
Overview of Courses
Our three day Financial Accounting Bootcamp is specifically built as a pre-requisite for our finance, valuation, financial modeling and more complex course topics. The bootcamp is structured as an interactive discussion in which we cover definitions and terminology thru examples and case studies. Oftentimes, learning and teaching accounting is associated with boring definitions; however, our approach is to tell a story, illustrate what the numbers mean through interesting examples, not by reading slides or textbooks. We stress learning through application, practice and repetition not memorization. We emphasize, hone and re-hone concepts via one large integrated case study in which the focus is not on debits/credits and t-accounts, but rather financial analysis. This is geared towards those with little to no accounting background (i.e. liberal arts majors) and is perfect as a refresher of the most important concepts for those having previously taken "Accounting 101" courses.
|
|
Course Goals & Overview:
Our Financial Accounting Intensive Bootcamp is specifically built as a pre-requisite for our finance, valuation, financial modeling and more complex course topics. The bootcamp is structured as an interactive discussion in which we cover definitions and terminology thru examples and case studies. Oftentimes, learning and teaching accounting is associated with boring definitions; however, our approach is to tell a story, illustrate what the numbers mean through interesting examples, not by reading slides or textbooks. We stress learning through application, practice and repetition not memorization. We emphasize, hone and re-hone concepts via one large integrated case study in which the focus is not on debits/credits and t-accounts, but rather financial analysis. This is geared towards those with little to no accounting background (i.e. liberal arts majors) and is perfect as a refresher of the most important concepts for those having previously taken "Accounting 101" courses.
Course Sections:
Ten Ways to Cook the Books
Overview of importance of accounting, accounting as a performance measurement tool and discussion of
various stakeholders involved
Accrual concept of accounting, revenue recognition and matching principle
Classification and construction of financial statements
Comprehend the basic concepts underlying the Income Statement and Balance Sheet and the relationship between the two
Ten ways to cook the books, significance of & how to spot them from a financial point of view; how to:
- Overstate revenue and prematurely recognize income
- Distort performance measurement by including non-recurring items
- Manipulate and decrease expenses and distort profit
- Fail to recognize losses through write-offs and allowances
- Use LIFO/FIFO accounting methods to manipulate profits and inventories
- Analyze off-balance sheet items such as operating (and capital) leases to distort debt and profitability
- Over / under - value marketable securities to distort profitability
- Hide pension expenses and create phantom income
- Manipulate cost vs. equity accounting methods and minority interest overview
- Manage earnings by modifying reserve valuation estimates
Detailed Income Statement review, including definition, significance and application of:
Revenue, COGS, Gross Profit, SG&A, Operating Income (EBIT) & EBITDA
Interest Expense and Income, Pre-Tax Income, Taxes (Current & Deferred)
Net Income, Shares Outstanding (Basic and Diluted), Earnings per Share
Detailed Balance Sheet review, including definition, significance and application of:
Current Assets (Cash, Inventories, Accounts Receivables, Pre-paid Expenses),
Fixed Assets (PPE), Long-Term Assets (Equity Investments)
Goodwill and Intangibles
Current Liabilities (Accounts Payable and Deferred Revenue)
Long-Term Liabilities (Debt and Capital Leases)
Minority Interest
Equity (Common Stock, Additional Paid in Capital, Retained Earnings, Treasury Stock and Other Comprehensive Income)
Review of working capital and understanding its impact on a business and cash flow
Understand how depreciation, amortization and other non-cash expenses are accounted for and how they
impact the financial statements
Detailed Cash Flow Statement review, including definition, significance and application of:
- CFO: Cash Flow from Operations (Net Income, Depreciation & Amortization, Changes in Working Capital)
- CFI: Cash Flow from Investing (Capital Expenditures, Acquisitions, Divestitures)
- CFF: Cash Flow from Financing (Dividends, Stock Issuances, Repurchases, Debt Borrowings & Paydown)
Understand why the Cash Flow Statement is the "ultimate balancer and equalizer"
Appreciate the information content of the Income Statement, Balance Sheet and Cash Flow Statement and their inter-relationships
Analyze financial statements from a high-level context and how to spot inconsistencies on the Income Statement and Balance Sheet ("cooking the books") that appear and cannot be hidden on the Cash Flow Statement ("cash is king" – can’t hide cash or lack of cash)
Understand the process by which an entity’s financial activities ultimately get reflected in its financial statements
Wrap-up & Summary
Begin hands-on, interactive case study creating major financial statements
Modify and enhance case study by interjecting ways to “cook the books” and analyzing the results
Continuation, analysis and wrap-up of hands-on, interactive case study
Conclusion of case study demonstrating, illustrating and highlighting all key discussion points, definitions and examples
Discussion of deferred tax liabilities and deferred tax assets; permanent vs. temporary differences and effect on effective tax rates
Review of important financial and accounting ratios
Compute, compare and contrast performance measures (internal liquidity ratios, asset management and efficiency metrics, profitability measures, external liquidity statistics and debt management)
Prerequisites:
Desire to learn accounting terminology, general business smarts and common sense
Video Length / Estimated Total Course Time:
11 hours / 16 hours
Individual Course Price:
$250
Click here to register now!
|
|
Sample Video Clips
Accounting & Financial Statements Intensive Bootcamp