Overview
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Learn accounting. Get an introduction to the four basic types: financial accounting, managerial accounting, income tax accounting, and bookkeeping.
Syllabus
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Introduction
- The importance of accounting
- What you should know
- The four flavors of accounting
- Bookkeeping
- Financial accounting
- Managerial accounting
- Income taxes
- Who uses financial statements?
- The accounting equation
- Assets
- Liabilities
- Equity
- Balance sheet example: Walmart assets
- Balance sheet example: Walmart liabilities and equity
- Limitations of the balance sheet
- The balance sheet and the income statement
- Overview of the income statement
- Earnings per share
- Income statement example: Walmart revenues
- Income statement example: Walmart expenses
- Overview of the cash flow statement
- Cash flow example
- Summary of financial reporting
- DuPont and managerial accounting
- A closer look at managerial accounting
- Product costing: Materials and labor
- Product costing: Overhead
- Break-even analysis: Computations
- Break-even analysis: Interpretation and use
- Budgets: Realistic benchmarks
- Budgets: Solving problems in advance
- Performance evaluation example: Drilling contest
- Performance evaluation example: Optometrist
- Performance evaluation example: Stice boys
- The history of income taxes
- Tax brackets
- Average and marginal tax rates
- Tax deductions and credits
- Capital gains vs. ordinary income
- Income tax summary
- Conclusion
