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Accountant’s Guide to Financial Management (Course Id 23)

QAS / Registry
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 10.0
IRS Credits : 0
Price : $99.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Finance - Finance for Course Id 23

Description :

This course is designed for accountants who must have financial knowledge but has not had formal training in finance. Topics include: The Sarbanes-Oxley Act financial reporting requirements, uses and analysis of financial statements, financial forecasting and cash budgeting, risk and return, valuation of stocks and bonds, time value of money, investing and financing, leverage, optimal capital structure, portfolio selection, management of financial resources, and international finance. The goals of the course are fourfold:

    1. It provides an understanding and working knowledge of the fundamentals of financial decision making and strategy that can be put to practical application in day-to-day jobs of accountants and managers.
    2. It also concentrates on providing a working vocabulary for communication.
    3. It uses examples and illustrations, with emphasis on the practical application of financial concepts, tools, and methodology.
    4. It also includes checklists, guidelines, rules of thumb, diagrams, graphs, and tables to aid your comprehension of the subjects discussed.

Usage Rank : 0
Release : 2012
Version : 999
Prerequisites : Basic math
Basic statistics
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 22-Sep-2012
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 23

Keywords :
Learning Objectives :

Chapter 1
AN OVERVIEW OF FINANCIAL MANAGEMENT

After reading this chapter, you should be able to:
    Identify the goal of the firm.
    Distinguish between profit maximization and stockholder wealth maximization.
    Explain how agency problems may interfere with the goal of stockholder wealth maximization.
    Describe the scope and role of finance.
    Define some key finance vocabularies.
    Explain the role of financial managers.
    Describe the relationship between accounting and finance.
    Explain the financial and operating environment in which financial managers operate.
    Compare the various legal forms of business organization.

Chapter 2
FINANCIAL STATEMENTS AND CASH FLOW

After reading this chapter, you should be able to:
    Read and interpret the basic financial statements: the balance sheet, income statement, and statement of cash flows.
    Explain how the balance sheet portrays a company's financial position.
    Describe how the income statement reveals the entity's operating performance .
    Determine and assess a company's cash inflows and cash outflows.
    Outline the many types of accounts that may exist in the accounting system.
    Explain what the annual report is and read and list its components, including the financial statements, footnotes, review of operations, auditor's report, and supplementary schedules.
    Describe what managements discussion and analysis (MD&A) involves.
    Summarize how the Sarbanes-Oxley 404 reporting differs from traditional reporting.

Chapter 3
EVALUATING A FIRM'S FINANCIAL PERFORMANCE

After reading this chapter, you should be able to:
    Explain what financial statement analysis is and why it is important.
    Compare horizontal analysis and vertical analysis.
    List the basic components of ratio analysis.
    Distinguish between trend analysis and industry comparison.
    Calculate a comprehensive set of financial ratios and interpret them.
    Explain the limitations of ratio analysis.

Chapter 4
IMPROVING FINANCIAL PERFORMANCE

After reading this chapter, you should be able to:
    Define ROI.
    Identify the basic components of the Du Pont formula and to explain how it can be used for profit improvement.
    Analyze how financial leverage affects the stockholder's return.

Chapter 5
BUDGETING, PLANNING, AND FINANCIAL FORECASTING

After reading this chapter, you should be able to:
    Apply the percent-of-sales method to determine the amount of external financing needed.
    Diagram the firm's budgetary system, including the cash budget and the forecasted (pro forma) income statement and balance sheet.
    Calculate a firm's sustainable rate of growth.
    Formulate the master budget, step by step.
    Discuss why budgeting is used for profit planning and "what-if" analysis.

Chapter 6
THE TIME VALUE OF MONEY

After reading this chapter, you should be able to:
    Outline the concept of future value, with both annual and intrayear compounding.
    Distinguish between future value and present value concepts.
    Calculate the future value of a single payment and an annuity.
    Calculate the present value of a single payment and an annuity.
    Compare and contrast future value and present value tables.
    Determine some important financial variables such as a sinking fund amount, the monthly payment of an amortized loan, and annual percentage rate (APR).

Chapter 7
THE MEANING AND MEASUREMENT OF RISK AND RATES OF RETURN

After reading this chapter, you should be able to:
    Define return and describe how it is measured.
    Distinguish between arithmetic return and geometric return.
    Calculate and state risk statistics: the variance, standard deviation, and coefficient of variation.
    Identify the types of risk.
    Explain the nature of diversification and how it reduces risk.
    Calculate portfolio return and portfolio risk.
    Compare the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Model (APM).
    Calculate a beta value and describe its use in designing a portfolio.

Chapter 8
VALUATION OF STOCKS AND BONDS

After reading this chapter, you should be able to:
    Outline the key inputs and concepts underlying the security valuation process.
    Determine the value of bonds.
    Identify and calculate various yields on a bond.
    Distinguish between preferred stock and common stock.
    Describe the various methods of common stock valuation.
    Determine the investor's expected rate of return on preferred stock and common stock.

Chapter 9
THE COST OF CAPITAL

After reading this chapter, you should be able to:
    Compute individual costs of financing including long-term debt, bonds, preferred stock, common stock, and retained earnings.
    Determine the overall cost of capital.
    Discuss the various weighting schemes.
    Explain how the weighted marginal cost of capital can be used with the investment opportunity schedule to find the optimal capital budget

Chapter 10
CAPITAL BUDGETING: TECHNIQUES AND PRACTICE

After reading this chapter, you should be able to:
    Describe the types and special features of capital budgeting decisions.
    Calculate, interpret, and evaluate five capital budgeting techniques.
    Select the best mix of projects with a limited capital spending budget.
    Discuss how income tax factors affect investment decisions.
    Explain the types of depreciation methods.
    Discuss the effect of Modified Accelerated Cost Recovery System (MACRS) on capital budgeting decisions.

Chapter 11
DETERMINING THE FINANCING MIX

After reading this chapter, you should be able to:
    Discuss the basics of break-even analysis and operating leverage and how they relate to each other.
    Measure operating leverage and financial leverage and distinguish between them.
    Apply the EBIT-EPS approach to evaluate alternative financing plans.
    Explain how to determine the best capital structure.

Chapter 12
MANAGING LIQUID ASSETS

After reading this chapter, you should be able to:
    Accelerate cash receipts.
    Delay cash payments.
    Determine an optimal cash balance.
    Identify the types of marketable securities.
    Explain how to manage accounts receivable.
    Describe what credit and discount policies may be advisable.
    Outline some ways to manage inventory.
    Compute the carrying cost and ordering cost of inventory.
    Determine how much inventory to order each time and when to order it.

Chapter 13
SHORT TERM FINANCING

After reading this chapter, you should be able to:
    Explain the different short term financing instruments and when each one is most appropriate.
    List the advantages of trade credit.
    Identify the types of bank loans and how they work.
    Compute interest.
    Outline the attributes of commercial paper financing.
    Finance using receivables and inventory as collateral.
    Distinguish between short term and long term financing.
    List the advantages and disadvantages of leasing.

Chapter 14
DEBT FINANCING

After reading this chapter, you should be able to:
    Identify the types of bonds that can be issued.
    Outline the advantages of using bonds for long term financing.
    Discuss how bond interest is calculated and paid.
    Decide if a bond issue should be refunded before maturity.

Chapter 15
EQUITY FINANCING

After reading this chapter, you should be able to:
    Outline the advantages and disadvantages of the different kinds of stock and other equity securities.
    List the characteristics of the different classes of stock.
    Describe the role of the investment banker.
    Explain the importance of making wise capital structure decisions .
    Distinguish difference between a private and public placement of securities.

Chapter 16
INTERNATIONAL FINANCE

After reading this chapter, you should be able to:
    Outline the key features of the financial management of a multinational corporation (MNC).
    Describe some popular financial goals of MNCs.
    Distinguish between spot and forward foreign exchange rate.
    Explain ways to control currency risk.
    Outline three different types of foreign exchange exposure.
    Explain long versus short position.
    List some key questions to ask that help to identify foreign exchange risk.
    Identify the ways to forecast foreign exchange rates.
    Analyze foreign investments.
    Measure political risk and deal with political risk.
    Identify various international sources of financing.
Course Contents :

Chapter 1:      An Overview of Financial Management

 

Chapter 2:      Financial Statements and Cash Flow

 

Chapter 3:      Evaluating a Firm's Financial Performance

 

Chapter 4:      Improving Financial Performance

 

Chapter 5:      Budgeting, Planning, and Financial Forecasting   

 

Chapter 6:      The Time Value of Money      

 

Chapter 7:      The Meaning and Measurement of Risk and Rates of Return 

 

Chapter 8:      Valuation of Stocks and Bonds

 

Chapter 9:      The Cost of Capital

 

Chapter 10:    Capital Budgeting: Techniques and Practice

 

Chapter 11:    Determining the Financing Mix

 

Chapter 12:    Managing Liquid Assets

 

Chapter 13:    Short‑Term Financing

 

Chapter 14:    Debt Financing

 

Chapter 15:    Equity Financing

 

Chapter 16:    International Finance

 

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