[b]Jules J Schwatrz - Finance and Accounting for the Non-Financial Manager [Video - 17 MP4][/b]
English | Size: 7.21 GB
In 1494, a Franciscan monk and professor of sacred theology in Venice wrote the first textbook of modern accounting.
Five centuries later, businesspeople the world over, American or Italian, Japanese or Nigerian, still speak the fundamental language of business created by Luca Pacioli.
Investors, business owners, and managers have always had a deep need to become fluent in the lexicon of accounting and finance.
Understanding the Language of Profit Is Now Essential
But as firms catch the wave of open-book and profit-share management, everyone who works at these firms now needs to become proficient in the language of profit.
If you are in any of these groups, there are key concepts you need to understand, including:
- income statements
- balance sheets
- cash flow analysis
- net present value
- debt-to-equity ratios
- the vast differences between profits and cash
- the host of financial measurements that constitute the bottom line.
Accessible, Useful, and Fun to Learn
This course is designed to teach you those concepts in a way that is accessible, immediately useful, interesting, andâ€“in the hands of teacher Jules Schwartzâ€“even fun.
Professor Schwartzâ€™s varied and successful background in business, investment banking, and academics includes being the recipient of Boston Universityâ€™s Metcalf Prize for distinguished teaching, making him an ideal choice to teach this course.
His lectures are illustrated with computer-generated graphics to display financial statements, definitions, formulas, and equations.
One concept at a time, he clearly explains many of the crucial aspects of the world of business and how they are connected to one another, ranging from the balance sheet to debentures, from the learning curve to the Lang effect.
And to ensure that you master each type of business problem covered in the lectures, the outline booklet that accompanies the course includes example problems and their solutions.
Lecture by lecture, you gain fluency in the language of accounting.
And you also add a vital dimension to your understanding as you learn to see how the numbers from a financial statement impact a firmâ€™s strategy, growth, and sources of revenue to pay for its activities.
Lecture 1: Balance Sheet: Assets (44:21)
This first lecture introduces the balance sheet, or statement of a companyâ€™s condition.
Professor Schwartz explains this â€œsnapshotâ€ of a companyâ€™s assets and offers an explanation of where funds come from to buy these assets.
Lecture 2: Balance Sheet: Liabilities and Equity (44:48)
This lecture discusses the sources of investment funds open to a company. You learn the advantages and disadvantages of debt and equity financing.
Lecture 3: Income Statement: The Nature of Costs (44:51)
This lecture explores the income statement, a report on the profit results for the accounting period. You examine how the nature of cost influences both results and financial decisions.
Lecture 4: Economies of Scale and Cash Flow (43:42)
You learn how to approach what is an important goal for every business: maximizing the amount of cash it generates relative to the amount it has invested.
Lecture 5: Financial Reports I (41:10)
In a two-lecture lesson on financial reports, you get a chance to examine a real report in detail as Professor Schwartz unveils the 1972 Annual Report of the United States Steel Company.
As you go through the numbers, you gain an understanding of both the level of precision you can expect in such information and the degree of discretion management exercises in presenting information to its shareholders.
Lecture 6: Financial Reports II (43:23)
This lecture continues the examination of the U.S. Steel Annual Report by explaining how this firm may have increased reported earnings by $80 million through its discretionary decisions.
Lecture 7: Learning Curves and Cost Reduction (45:03)
Professor Schwartz examines some of the factors that influence costs. You also learn about the phenomenon called the â€œlearning effectâ€ and how it can create strategic opportunities.
Lecture 8: Scale and Transportation Effects (42:48)
You learn more about two other cost factors that significantly affect the decisions of a company: scale and transportation costs.
[/b]Lecture 9: Financial Decisions (45:05)[/b]
Companies invest money today to realize returns tomorrow. This lecture teaches you how to deal with the concept of present value and the discounting of any expected future payments.
Lecture 10: The Costs of Capital (45:15)
What is the price a firm must pay for the use of the funds provided to it by its creditors and shareholders? You learn that the weighted average of these costs is the corporationâ€™s cost of capital.
Lecture 11: Return on Sales, Assets, and Equity (45:16)
In this lecture, you consider the three traditional measures of corporate performance:
- return on sales
You learn that no single criterion is sufficient. They are all related, and different standards apply at different levels in the company.
Lecture 12: Financial Limits of Growth (45:26)
You learn how to develop a formula that defines the maximum rate at which a company is likely to grow. You also learn how growth, an important measure of corporate performance, is directly related to its return on equity.
Lecture 13: Strategic Signatures Case I (43:59)
You get a chance to examine the financial data of 10 well-known American companies. Your task is to match the data to the right company.
This exercise gives you an opportunity to apply many of the concepts previously learned in order to determine what each company should look like.
Lecture 14 : Strategic Signatures Case II (44:29)
In this lecture, you use the strategy definitions derived for the 10 companies in the Strategic Signatures Case I, along with the strategic variables you will have defined, to determine which set of financials belongs to which company.
You see that accountants do a reasonably good job of describing each company in financial terms, despite, in Professor Schwartzâ€™s words, â€œthe limitations of their craft and the odd results one expects to see within Generally Accepted Accounting Principles.â€
Lecture 15: Measuring and Controlling (44:30)
Professor Schwartz explores additional uses of accounting data and financial analysis. You learn about some of the problems inherent in measuring the performance of people and units.
Lecture 16: Legal Issues and Summary (45:08)
To conclude the course, Professor Schwartz considers some of the regulatory issues that influence managementâ€™s financial policies and examines the rules applying to patents, trademarks, and copyrights. You also look at the laws that govern competition.
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