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Last updated:

November 1, 2022

Duration:

Unlimited Duration

FREE

This course includes:

Unlimited Duration

Badge on Completion

Certificate of completion

Unlimited Duration

Description

Our goal is to help you develop a framework for understanding financial, managerial, and tax reports.

The course goal is divided into five subordinate challenges that can help you organize the way you learn accounting:

  1. The record keeping and reporting challenge
  2. The computation challenge
  3. The judgment challenge
  4. The usage challenge
  5. The search challenge

The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events generating them. Restricted to first-year Sloan MBA students.

Acknowledgements

Acknowledgment is hereby given to Professor G. Peter Wilson for his authorship of the following content in this course:

  • The Five Challenges (see Syllabus and Lecture 1)
  • “What Do Intel and Accountants Have in Common?” (see Lecture 1)
  • A Conceptual Framework for Financial Accounting (see Lecture 1)

Course Curriculum

  • Overview and Introduction – Setting the Stage and the Course Framework Unlimited
  • Principles of Accrual Accounting Unlimited
  • Elements of an Annual Report and Financial Ratios Unlimited
  • Revenue Recognition and Accounts Receivable Unlimited
  • Accounting for Inventory and COGS Unlimited
  • The Matching Principle and Long-lived Assets Unlimited
  • The Statement of Cash Flow Unlimited
  • Note on Cash Flow Statements Unlimited
  • Marketable Securities and Valuation Adjustments Unlimited
  • Current Liabilities and Contingencies and an Introduction to Long-Term Debt Unlimited
  • Long-Term Debt Unlimited
  • Leases Unlimited
  • Stockholders’ Equity Unlimited
  • Acquisitions Unlimited

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Massachusetts Institute of Technology