Accounting for Corporations - Financial Accounting

Introduction

Are you looking to deepen your understanding of corporate financial accounting? Whether you're an accounting student, a budding entrepreneur, or a seasoned professional, mastering the intricacies of corporate accounting can be a game-changer for your career. The course "Accounting for Corporations - Financial Accounting" offers a comprehensive dive into the world of corporate financials, setting you apart in the competitive business landscape. This course not only enhances your knowledge of corporate transactions but also equips you with practical skills to navigate the complexities of corporate finance. Let's explore how this course can transform your understanding and application of financial accounting in a corporate context.

Course Details

Course Curriculum Overview

The "Accounting for Corporations - Financial Accounting" course is meticulously structured to cover all essential aspects of corporate accounting. You'll start by analyzing the differences and similarities between corporations and other business entities like partnerships and sole proprietorships. The curriculum progresses to evaluating financial transactions related to issuing corporate stock, both for cash and non-cash assets. You'll delve into the accounting principles governing cash dividends and stock dividends, and gain a thorough understanding of preferred stock, including its accounting implications and strategic reasons for issuance or acquisition.

Further, the course covers treasury stock, contrasting it with preferred and common stock, and explores the equity section of financial statements in detail. You'll dissect the Statement of Stockholders’ Equity and the Statement of Retained Earnings, understanding their unique aspects compared to other business entities. The course also includes a comparative study of the corporate closing process and emphasizes the calculation and significance of earnings per share.

Key Learning Outcomes

Analyze the differences and similarities between corporations and other business entities.
Evaluate financial transactions related to issuing corporate stock.
Apply accounting principles to record transactions related to dividends.
Explain the concept and implications of preferred stock.
Compare treasury stock with other types of stock.
Interpret the equity section of financial statements.
Demonstrate understanding of the corporate closing process.
Calculate earnings per share and articulate its significance.
Create accounting solutions using Excel for various corporate scenarios.

Target Audience and Prerequisites

This course is ideal for accounting students, entrepreneurs considering corporate structures, and accounting professionals looking to upskill. To get the most out of this course, you should have a basic understanding of accounting principles, including the accounting equation, double-entry bookkeeping, and familiarity with financial statements. Additionally, a basic knowledge of different business entities and a willingness to actively participate in discussions and problem-solving exercises is essential.

Course Duration and Format

The course spans 12 hours of on-demand video content, supplemented with assignments and 26 downloadable resources. It is accessible on mobile and TV, allowing for flexible learning. Upon completion, you will receive a certificate of completion.

Instructor Background

The course is led by Robert (Bob) Steele, a seasoned professional with a robust background in accounting. Bob is a Certified Public Accountant (CPA), a Chartered Global Management Accountant (CGMA), and holds a Master of Science in Taxation. As a Certified Post-Secondary Instructor (CPS) and a Curriculum Development Expert, Bob brings a wealth of experience teaching accounting and working with students in business-related fields. His blend of technical expertise and teaching acumen ensures a comprehensive and engaging learning experience.

Benefits & Applications

Practical Skills Gained

This course equips you with practical skills crucial for managing corporate financials. You'll learn how to record and analyze complex transactions, such as issuing stock and dividends, using real-world scenarios. The hands-on approach with Excel practice files allows you to apply these skills directly, enhancing your proficiency in corporate accounting.

Real-World Applications

The knowledge gained from this course has direct applications in corporate environments. Whether you're preparing financial statements, advising on stock issuance, or managing dividend payments, the skills you acquire will be immediately applicable. The course's focus on real-world examples ensures you're prepared to handle actual corporate accounting challenges.

Career Relevance

Understanding corporate accounting is essential for careers in finance, accounting, and business management. This course can significantly enhance your resume, making you a valuable asset to corporations looking for skilled financial professionals. It's particularly relevant for those aiming to transition into roles that require a deep understanding of corporate financials.

Industry Alignment

The course aligns well with the needs of the corporate sector, where understanding the nuances of stock issuance, dividends, and equity management is crucial. It prepares you for roles in corporate finance, investment banking, and financial analysis, aligning with industry standards and practices.

Standout Features

Unique Course Elements

One of the standout features of this course is its emphasis on practical application. The inclusion of Excel practice files allows you to work on real accounting scenarios, reinforcing theoretical knowledge with hands-on experience. Additionally, the course offers multiple-choice example questions and short calculation questions, enhancing your test-taking skills and numerical problem-solving abilities.