Financial Accounting, Financial Statement, Accounting, Generally Accepted Accounting Principles, Accounting Terminology
Jan 30, 2019
It got tougher as it went along, but Professor Brian Bushee never failed to make it interesting or at the very least, understandable. His virtual students livened things up!
Feb 13, 2018
This entire course was very well done. I liked the professor and his virtual students. They asked (for the most part) relevant questions that added to my understanding.
Now that we have a solid grasp of the foundations from the Introduction to Financial Accounting course, we are going to work our way around the Balance Sheet to discuss various types of Assets, Liabilities, and Stockholders' Equity (along with their associated Revenues and Expenses) in more detail. We kick off with Accounts Receivable and the problem that some customers that buy goods on credit will not actually pay us. We will look at the computation, disclosure, and analysis of such "Bad Debts". We will also briefly discuss other Accounts Receivable issues such as Factoring and Securitization. Then, we will move on to Inventory. We will discuss how Inventory accounting differs between retail and manufacturing firms. We will see how companies figure out the cost of the inventory they sold, which requires assumptions about cost flows. This discussion will lead us into covering one of the most infamous accounting topics: LIFO.