The Complete Introduction To Accounting and Finance from Udemy

What's inside

Learning objectives

Learn from a top rated instructor who has been teaching on udemy since 2013 and taught over 100,000 students!
Understand basic accounting concepts
Accounting terminology
Accounting fundamentals
The audit process
The accounting cycle
Debits and credits
Accounts receivable
Accounts payable
Forecasting and budgeting
Interpreting financial statements

Balance sheets
Income statements
Statement of cash flows
Inventory accounting and cost accounting
Waterfall reporting
How to raise funds for your business
The ipo process
Exit strategies
Show more
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Learn from a top rated instructor who has been teaching on udemy since 2013 and taught over 100,000 students!
Understand basic accounting concepts
Accounting terminology
Accounting fundamentals
The audit process
The accounting cycle
Debits and credits
Accounts receivable
Accounts payable
Forecasting and budgeting
Interpreting financial statements
Balance sheets
Income statements
Statement of cash flows
Inventory accounting and cost accounting
Waterfall reporting
How to raise funds for your business
The ipo process
Exit strategies
Show more
Show less

Syllabus

Introduction to the Course

Accounting and Finance for Startups introductory video. Learn about your instructor Chris Benjamin from Rogue CFO Consulting, what topics will be covered, and the goals of the course.

Udemy Course Review System

Excel Basics - Formatting, Reports and Charts

Accounting 101

A worksheet which the student should print out before reviewing the section. Contains important terminology, a section for notes, 3 questions related to the section, and an area to write down questions to ask the teacher.

The common accounting and finance terms used in the business world are discussed and defined.

The fundamentals of accounting are debits and credits. Learn the typical classification of financial report items, experience some examples and also learn when the debits and credits may reverse.

A discussion about current and long term assets and the defining features of each.

The liability section of the Balance Sheet is discussed, breaking out current and long term liabilities, the types of sub categories that fall under these headings, and what type of transactions would be considered liabilities.

A discussion of the multiple line items in the Equity section of a balance sheet, how the P&L is tied to the Equity Section through Retained Earnings, how to classify company buy-back of stock, and what the Equity section represents to owners.

A discussion of the types of revenue, how it is generated, and the associated direct costs whether they are goods or services.

A discussion of the classification of expenses, how they are usually broken out on a financial statement, and other possibilities for major groupings of expenses beyond the standard ones.

A discussion about fixed assets, intangible assets, and how to properly depreciate and amortize the cost of them over their useful life.

Cost Accounting - Inventory

An introduction to cost accounting, its purpose, and its components.

A description of what is direct labor, how it is calculated and how it is applied to the total cost of a finished good, along with a few examples.

A discussion of direct materials, how the costs are determined as well as standard costing for materials.

A discussion of what are overhead costs, how to accumulate them and how to then allocate them as part of cost accounting.

A discussion of how inventory moves through the system and balance sheet, how to best track it, and how to verify your physical inventory to your accounting software count.

A simple summary of cost accounting - 3 major areas of input create the final cost for the finished good.

Financial Statement Preparation

A description of how to prepare a balance sheet, the header, sections and what periods to compare.

A discussion of the income statement, the sections included, and how to best present the report.

A discussion of how to prepare a statement of cash flows, the main categories, the types of transactions which would impact the statement of cash flows, and some best business practices.

A discussion of the Statement of Equity, how to prepare, the main sections, and its purposes.

Sample financial statements for a public company. The sample is from BSQR (Bsquare Corporation) which can be found on the Securities and Exchange Commissions website under the EDGAR system, where all public companies file their reports and financials. Note that BSQR has both service and software sales, much like the examples in the course.

Analyzing Financial Statements

A discussion of the sections of the Balance Sheet, how to think of them from an analysis perspective, and various ratios you can use to interpret the numbers.

A discussion of how to analyze an Income Statement section by section, as well as using ratios to analyze.

A discussion of how to use the information on the Statement of Cash Flow for analysis as well as what ratio analysis can be performed.

A list of common financial statement analysis ratios.

Audited Financials

A discussion of what to consider and how to go about hiring an audit firm.

A discussion of how a company audit works from the auditors perspective, their requirements and what their job is as independent auditors.

A discussion of how a typical audit engagement works, the items requested, as well as both onsite and post audit information.

Sample Prepared by Client List

A sample of an audit letter issued after the auditor has completed.

Additional Financial Reporting

A discussion of the Waterfall Report and its uses in startup and small businesses

Review of Waterfall Report

Sample of a Waterfall report, showing the original budget line, along with a revised line for January after the actual results have come in. This allows for you to see how you revised each months forecast based on actual results. This cascades downwards for each subsequent month.

An overview of a budget vs. actual report, its purpose and the format.

Review of Budget to Actual

A sample comparison of actual results to the budget, along with the variance shown.

Budgets and Forecasts

A discussion of budgeting concepts to consider when building a budget.

A discussion of how to build a proper Assumptions tab & link it to the financials you are building in your budget or forecast.

A discussion of the best business practices when doing an income statement forecast and what logic to build into each section on the report.

A discussion of how to forecast the Balance Sheet.

A discussion about the proper way to forecast a Statement of Cashflow.

Review of Forecast

A sample financial model, with each tab broken out as its own PDF file. This would be a typical forecast/model that includes a central Assumptions Tab, with all other financial reports being driven by the assumptions. Note that this forecast was done for 3 years.

Raising Capital

A discussion of where to begin the process to raising capital for your company, what documents to prepare and where to think about looking for potential investors.

A discussion about the methods to calculate valuation, how each of them works, and what is best for a small business or startup.

A sample valuation done for a company to show possible investors what the companies estimated valuation was.

A discussion of different ways to find potential investors, as well as a discussion of pitfalls to avoid.

A discussion of the process which is typical to raise capital from start to finish.

The Investment Process Overview

A discussion of best business practices when presenting to potential investors, as well as some potential pitfalls to avoid.

The most important slides to include in your investor presentation

A discussion of Term Sheets, what standard terms are usually included, things to watch for, and recommendations on how to negotiate a term sheet.

An example of a full Term Sheet used by investors.

A discussion of what to consider after your company receives funding. Board meetings, additional reporting and the capitalization table are discussed.

Exit Strategies

A summary and introduction of the various exit strategies which will be discussed individually.

Exit Strategies Overview

A discussion of what a merger and an acquisition are, when they are most appropriate, and some examples.

A discussion of a Management Buyout, how it works and why a company would use this as an exit strategy.

A discussion of what a secondary market is, how they operate, and their purpose in exit strategies.

Going Public On The Stock Market

An overview of how the Initial Public Offering process works, the timing, and parties involved.

Flowchart of the timing and questions you should ask during the IPO Process

A discussion of the total costs to take a company public.

A discussion of the steps to take a company public and how long a company can expect to spend at each stage.

A discussion of the impacts and reasons for going through an Initial Public Offering.

A discussion of how a company going public impacts previous investors and gives them more flexibility with their investment and potential for exits.

Conclusion to the Course

A summary of the goals & objectives completed through the course as well as the instructor Chris Benjamin's contact information.

2023 Entrepreneur Trends To Watch

Recommended Next Steps

What Accounting and Finance Topic Was Most Relevant For You?

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Introduces basic concepts of accounting and finance, catering to beginners in these fields

Taught by instructors with extensive experience in accounting and finance, providing learners with practical insights and real-world knowledge

Develops a strong foundation in accounting and finance principles, preparing learners for entry-level roles in these areas

Covers a comprehensive range of topics, from basic accounting concepts to financial analysis and fundraising, providing a holistic understanding of accounting and finance

Emphasizes real-world applications, ensuring that learners can apply their knowledge in practical settings

Reviews summary

Solid accounting and finance overview

learners say this course is a straightforward and comprehensive review of accounting and finance fundamentals. The instructor delivers clear explanations and focuses on essential concepts.

This course is best suited for reviewing concepts if you already have a background in accounting and finance.

The instructor presents clear and organized lessons.

"the instructor did a good job of focusing on the key point in each section"

This course covers a lot of material in a clear and concise way.

"For the amount of material, the overall selection of the material to present was excellent."

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 The Complete Introduction To Accounting and Finance with these activities:

Review basic accounting and financial concepts

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Refreshes foundational knowledge and ensures a solid base for understanding the course material.

Browse courses on Accounting Principles

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Review textbooks, notes, or online resources.
Take practice quizzes or tests to assess understanding.
Join online forums or discussion groups to engage with other learners.

Organize and compile course notes, assignments, and resources

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Improves organization and retention by creating a centralized repository for learning materials.

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Create a filing system for notes, assignments, and resources.
Organize materials into logical categories or topics.
Use color-coding, highlighting, or other visual cues to aid memorization.
定期审查和总结编译的材料.

Review the Udemy Course on Accounting and Finance for Startups

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Provides an overview of accounting and finance, including terms, concepts, and principles relevant to startups.

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Review the syllabus and learning objectives.
Watch the introductory video.
Read the Excel Basics section.

Five other activities

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Show all eight activities

Form study groups and engage in regular discussions with classmates

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Provides opportunities for collaboration, peer learning, and different perspectives.

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Reach out to classmates and form study groups.
Set up regular meeting times and meeting frequency.
Choose topics to discuss and prepare discussion questions.
Share notes, resources, and ideas during meetings.
Engage in active listening and ask clarifying questions.

Practice financial statement analysis using the provided templates

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Develops skills in analyzing financial statements to understand a company's financial performance and position.

Browse courses on Financial Statement Analysis

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Download the financial statement templates provided in the course.
Select a company and gather its financial statements.
Input the company's financial data into the templates.
Analyze the financial ratios and trends using the templates.
Write a brief report summarizing your analysis.

Seek guidance and mentorship from professionals in the accounting or finance field

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Provides access to expert advice, insights, and networking opportunities to enhance learning outside the classroom.

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Identify potential mentors who have expertise in the desired areas.
Reach out to mentors and introduce yourself.
Set up regular meetings or calls to discuss progress and seek guidance.
Prepare questions and actively engage in discussions.
Follow up with mentors and express gratitude for their support.

Develop a financial model for a hypothetical startup business

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Applies accounting and finance knowledge to a practical business scenario, fostering critical thinking and analytical skills.

Browse courses on Financial Modeling

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Define the assumptions and parameters of the financial model.
Create income statements, balance sheets, and cash flow statements for the startup.
Forecast financial performance using the financial model.
Analyze the results of the financial model and make recommendations.
Present the financial model and findings to a group or panel.

Create a presentation on a specific accounting or finance topic

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Encourages active recall and deepens understanding by requiring students to explain and present a topic.

Browse courses on Accounting Principles

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Choose an accounting or finance topic that interests you or is relevant to your career goals.
Research the topic thoroughly using textbooks, articles, and other resources.
Develop an outline for your presentation, including an introduction, main points, and conclusion.
Create slides for your presentation using visual aids and clear language.
Practice presenting your presentation to ensure clarity and flow.

Career center

Learners who complete The Complete Introduction To Accounting and Finance will develop knowledge and skills that may be useful to these careers:

Controller

Controllers oversee the accounting and finance functions of a business. They are responsible for ensuring that financial records are accurate and compliant with regulations, and for providing financial advice to senior management. This course provides a comprehensive overview of accounting and finance, with a focus on the accounting cycle, financial reporting, and auditing. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Controller

Investment Banker

Investment Bankers help companies raise capital by issuing stocks and bonds. They also advise companies on mergers and acquisitions. This course provides a foundation in accounting and finance, with a focus on financial analysis and valuation. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Investment Banker

Financial Consultant

Financial Consultants provide advice to businesses on a variety of financial matters, including accounting, finance, and investing. This course provides a comprehensive overview of accounting and finance, with a focus on the accounting cycle, financial reporting, and auditing. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Financial Consultant

Tax Accountant

Tax Accountants prepare and file tax returns for individuals and businesses. They also advise clients on tax planning and compliance. This course provides a foundation in accounting and finance, with a focus on tax accounting and compliance.

See salaries and explore the career path for Tax Accountant

Chief Financial Officer (CFO)

CFOs are responsible for the overall financial health of a company. They oversee the accounting, finance, and treasury functions, and they are responsible for making decisions about how to allocate financial resources. This course provides a comprehensive overview of accounting and finance, with a focus on the accounting cycle, financial reporting, and auditing. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Chief Financial Officer (CFO)

Venture Capitalist

Venture Capitalists invest in early-stage companies with high growth potential. They are responsible for evaluating investment opportunities, conducting due diligence, and negotiating deals. This course provides a foundation in accounting and finance, with a focus on financial analysis and valuation. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Venture Capitalist

Forensic Accountant

Forensic Accountants investigate financial fraud and other financial crimes. They also provide expert testimony in court cases. This course provides a foundation in accounting and finance, with a focus on auditing and fraud detection. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Forensic Accountant

Private Equity Associate

Private Equity Associates work for private equity firms, which invest in companies that are not publicly traded. They are responsible for evaluating investment opportunities, conducting due diligence, and negotiating deals. This course provides a foundation in accounting and finance, with a focus on financial analysis and valuation. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Private Equity Associate

Financial Planner

Financial Planners help individuals and businesses manage their finances. They provide advice on investments, retirement planning, and estate planning. This course provides a foundation in accounting and finance, with a focus on financial planning and analysis. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Financial Planner

Accountant

Accountants prepare and maintain financial records, prepare tax returns, and provide financial advice to individuals and businesses. This course provides a foundation in accounting principles, including the accounting cycle, financial reporting, and auditing. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Accountant

Budget Analyst

Budget Analysts develop and manage budgets for government agencies and businesses. They also analyze financial data to identify trends and make recommendations on how to improve financial performance. This course provides a foundation in budgeting and forecasting, with a focus on the accounting cycle and financial reporting. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Budget Analyst

Financial Analyst

Financial Analysts use their knowledge of finance to understand financial data. They use this data to make recommendations about investments, business decisions, and financial plans. This course provides a foundation in accounting and finance, with a focus on the accounting cycle and financial reporting. This can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Financial Analyst

Business Analyst

Business Analysts analyze business processes and identify opportunities for improvement. They also develop and implement solutions to improve efficiency and effectiveness. This course provides a foundation in accounting and finance, with a focus on financial analysis and budgeting. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Business Analyst

Auditor

Auditors examine the financial records of companies to ensure that they are accurate and compliant with regulations. This course covers the audit process, including the types of audits, the procedures used, and the reporting requirements. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Auditor

Product Manager

Product Managers are responsible for the development and launch of new products. They work with engineers, designers, and marketers to create products that meet the needs of customers. This course provides a foundation in accounting and finance, with a focus on budgeting and forecasting. This knowledge can help you develop the skills you need to succeed in this role.

See salaries and explore the career path for Product Manager