Management and financial accounting: Know your numbers 1 from Coursera

What's inside

Syllabus

The building blocks

Welcome to the first week of Know Your Numbers 1. This week, we are going to take on the basics of two important topics in MBA programs: accounting and finance. Accounting is primarily concerned with the classification of financial values (expressed as assets, liabilities, and equity), while finance expands on this to consider the valuation of our assets and the way that we have funded them through debt or equity. As such, the two concepts are closely related, though their focal points differ somewhat.

Ratios and data: Why and how

Welcome to Week 2! This week, we are going to focus on some of the most useful ratios and measurements that are commonly used in business, so that you can take your skills in this area and apply them to the rest of your studies, and more importantly, your career and your life. These will serve as a starting point for looking into quantitative analysis for your own organisation as well as for considering the strategic choices available to competitors, or other firms in which you may have an interest.

Strategy and accounting

During this week, we shift our focus from financial analysis and ratios to broader questions regarding the strategy of our organisation. The reason we do this is so that we have a first glance into what links exist between qualitative change and the downstream quantitative impacts that we can expect.

Budgeting and forecasting

This week, we begin to explore the connection between strategy, tactics, operations, and the numbers that demonstrate the financial health of our organisation. The role of management accounting in this context is also drawn into the discussion here, as is the nature of our role as managers in having to interpret technical accounting analysis on one hand, and influence strategic change on another.

Modelling financial performance

This week, we are shifting up a gear as we start to consider the use of financials to model the financial performance characteristics of an organisation into the future. we are getting our hands on some basic tools that will help us to build the frameworks and the fundamental techniques that will be used for financial projections, and even business valuation, in the future. This starts with a clear understanding of financial and cash flow performance, as we have explored in previous weeks.

Corporate governance and accounting

As we conclude our first Know Your Numbers course, our focus shifts towards the application of concepts like agency theory, and some examples of where the pursuit of financial performance alone has led to the failure of an organisation. By exploring such failures in some detail, we are better equipped to avoid similar occurrences in the future, as well as to find ways to manage and govern organisations successfully with regard to a multitude of stakeholders.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores foundational concepts in financial and management accounting, which are widely used in business

Covers ratios and measurements commonly used in business, providing a starting point for quantitative analysis

Examines the connection between financial analysis and business strategy, highlighting the qualitative and quantitative impacts of strategic decisions

Explores the role of management accounting in the context of budgeting and forecasting, emphasizing the interpretation of technical accounting analysis and the influence on strategic change

Introduces basic tools for modeling financial performance to build frameworks for financial projections and business valuation

Discusses corporate governance and accounting, examining real-world examples of financial performance failures and exploring strategies for successful organizational management

Reviews summary

Financial accounting: corporate finance

Learners say that Financial Accounting: Corporate Finance is a well-structured course that provides a strong foundation in management and financial accounting. They find the instructor to be knowledgeable and engaging, and they appreciate the course's real-world examples and practical applications. Overall, students feel that this course is helpful for those looking to advance their careers in finance or accounting.

Expert in the field

"I really enjoyed the tutor's lectures, very easy to understand."

Interesting and relevant

"Enjoyed the course, very interesting and can relate it to work, the industry as well as business management"

"Great course. Concepts were explained in a succinct manner and brief. Suggested readings were helpful to reinforce the learning process."

Provides a solid understanding of core concepts

"Provides a good foundation for learning, but the course resources are limited and don't offer much in-dept exploration of the presented concepts. "

"Excellent course about management and financial accounting. I was expecting much more mathematics so it's a good surprise for me :) The foundations are well taught."

Practical applications

"This course covers a variety of topics managers should consider managing financials. Learning both theory and practical application was very useful to me to apply to my organisation. "

"This course is delivered in comprehensive and simple-wording, which makes me easily understand the subjects or course. Also, it includes realistic examples or cases, so I can imagine what happens to implement the knowledge."

Organized and easy to follow

"The course is well organized and is easy to understand."

"Course is well structured , informative and the supplementary reading section comprises of good resources that reinforce the concepts."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Management and financial accounting: Know your numbers 1 with these activities:

Excel for Financial Analysis

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Follow online tutorials to learn how to use Excel for financial data analysis.

Browse courses on Excel

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Identify relevant tutorials
Follow the tutorials step-by-step
Practice using Excel for financial analysis
Complete the tutorials

Connect with Accounting Professionals

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Seek guidance from experienced accountants to gain industry insights and career advice.

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Attend industry events or join online forums to network with accountants.
Reach out to professors or alumni for recommendations.
Request informational interviews to learn about career paths and best practices.

Financial Accounting - The Basics

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Brush up on the essential concepts of financial accounting to build a strong foundation for this course.

Browse courses on Financial Accounting

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Explore Khan Academy's introductory course on financial accounting.
Search YouTube for tutorial videos on double-entry bookkeeping.
Review the basics of debits and credits.

Nine other activities

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Show all 12 activities

Financial Statement Creation

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Create financial statements for a company based on provided financial data.

Browse courses on Financial Statements

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Gather necessary financial data
Create an income statement
Create a balance sheet
Create a cash flow statement
Analyze the financial statements

Excel for Financial Modeling

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Enhance your proficiency in Excel, a crucial tool for financial professionals.

Browse courses on Financial Modeling

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Take an online tutorial on Excel basics or financial modeling.
Practice building financial models in Excel using templates or examples.
Explore advanced Excel functions and formulas related to finance.

Create a Visual Glossary of Accounting Terms

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Enhance your understanding of key accounting concepts by creating a visual glossary.

Browse courses on Accounting Terminology

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Identify the essential accounting terms covered in the course.
Design a visual representation for each term using diagrams, charts, or infographics.
Create a digital or physical glossary for easy reference.

Financial Ratio Calculations

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Practice calculating and interpreting key financial ratios to assess a company's financial health.

Browse courses on Financial Ratios

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Identify the relevant ratios to calculate
Gather the necessary financial data
Perform the ratio calculations
Interpret the results

Study Group Discussions

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Engage with classmates to clarify concepts, exchange insights, and strengthen your understanding.

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Join or form a study group.
Discuss lecture materials, review homework problems, and prepare for assessments.
Share different perspectives and learn from your peers.

Ratio Analysis Practice Problems

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Test your comprehension of financial ratios and improve your analytical skills.

Browse courses on Financial Ratios

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Solve practice problems on liquidity, profitability, and leverage ratios.
Analyze ratio trends and interpret their implications.
Use online resources or textbooks for additional practice.

Financial Case Study Analysis

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Analyze real-world financial data and make recommendations to improve a company's financial performance.

Browse courses on Financial Analysis

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Identify a relevant case study
Gather and analyze financial data
Develop recommendations for improvement

Case Study: Financial Analysis for a Small Business

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Apply your knowledge to a real-world financial analysis project.

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Select a small business or organization to analyze.
Gather financial data and conduct a ratio analysis.
Present your findings and recommendations in a formal report.

Financial Blog or Article

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Create a written piece that explains a specific financial concept or topic in a clear and engaging way.

Browse courses on Financial Literacy

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Choose a topic to write about
Research the topic thoroughly
Write a draft of the blog or article
Edit and proofread the final product
Publish the blog or article

Career center

Learners who complete Management and financial accounting: Know your numbers 1 will develop knowledge and skills that may be useful to these careers:

Certified Public Accountant

Certified Public Accountants are responsible for auditing financial statements and providing financial advice to businesses and individuals. This course can help you develop the skills you need to be a successful CPA, including financial accounting, management accounting, and financial analysis. This course will also provide you with a strong foundation in financial reporting and auditing standards. If you are interested in a career as a CPA, this course is a great place to start.

See salaries and explore the career path for Certified Public Accountant

Financial Analyst

Financial analysts provide financial advice to businesses and individuals. They analyze financial data to make recommendations on investments, acquisitions, and other financial decisions. This course can help you develop the skills you need to be a successful financial analyst, including financial modeling, financial analysis, and investment analysis. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Financial Analyst

Investment Banker

Investment bankers provide financial advice to businesses and governments on mergers and acquisitions, capital raising, and other financial transactions. This course can help you develop the skills you need to be a successful investment banker, including financial modeling, financial analysis, and valuation. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Investment Banker

Management Consultant

Management consultants provide advice to businesses on a wide range of topics, including strategy, operations, and finance. This course can help you develop the skills you need to be a successful management consultant, including financial analysis, strategic planning, and project management. This course will also provide you with a strong foundation in business theory and practice.

See salaries and explore the career path for Management Consultant

Auditor

Auditors review financial records to ensure that they are accurate and compliant with regulations. This course can help you develop the skills you need to be a successful auditor, including financial accounting, auditing standards, and risk management. This course will also provide you with a strong foundation in financial reporting and auditing.

See salaries and explore the career path for Auditor

Budget Analyst

Budget analysts develop and manage budgets for businesses and organizations. This course can help you develop the skills you need to be a successful budget analyst, including financial planning, budgeting, and cost control. This course will also provide you with a strong foundation in financial management and accounting.

See salaries and explore the career path for Budget Analyst

Chief Financial Officer

Chief Financial Officers are responsible for overseeing the financial operations of a business. This course can help you develop the skills you need to be a successful CFO, including financial management, accounting, and financial reporting. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Chief Financial Officer

Comptroller

Comptrollers are responsible for managing the financial operations of a business. This course can help you develop the skills you need to be a successful comptroller, including financial accounting, financial management, and financial reporting. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Comptroller

Financial Manager

Financial managers are responsible for managing the financial operations of a business. This course can help you develop the skills you need to be a successful financial manager, including financial accounting, financial management, and financial reporting. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Financial Manager

Financial Controller

Financial controllers are responsible for managing the financial operations of a business. This course can help you develop the skills you need to be a successful financial controller, including financial accounting, financial management, and financial reporting. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Financial Controller

Portfolio Manager

Portfolio managers manage investment portfolios for individuals and businesses. This course can help you develop the skills you need to be a successful portfolio manager, including investment management, portfolio management, and risk management. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Portfolio Manager

Financial Planner

Financial planners help individuals and businesses plan for their financial futures. This course can help you develop the skills you need to be a successful financial planner, including financial planning, investment planning, and retirement planning. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Financial Planner

Fund Manager

Fund managers manage investment funds for individuals and businesses. This course can help you develop the skills you need to be a successful fund manager, including investment management, portfolio management, and risk management. This course will also provide you with a strong foundation in financial theory and practice.

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Investment Advisor

Investment advisors provide financial advice to individuals and businesses. This course can help you develop the skills you need to be a successful investment advisor, including investment planning, portfolio management, and risk management. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Investment Advisor

Risk Manager

Risk managers identify and manage risks for businesses and organizations. This course can help you develop the skills you need to be a successful risk manager, including risk assessment, risk management, and risk mitigation. This course will also provide you with a strong foundation in financial theory and practice.

See salaries and explore the career path for Risk Manager