Course Overview
This course will enable you to interpret the financial statement line items that capture the most central and important operations of any enterprise: the revenue and other cash inflows earned from customers and the related expenses or losses.
You are required to have completed the following courses or have equivalent experience before taking this course:
- Foundations of Financial Statements
- Accruals and Cash Flows
Key Course Takeaways
- Determine if revenue will be received for a transaction based on meeting the legal qualifications for consideration
- Record revenue for a transaction accurately over time by identifying the five steps of revenue recognition
- Analyze a transaction and performance obligations
- Allocate transaction prices by applying a deferred revenue schedule
- Accurately account for discounts, returns, and allowances within financial statements over time
- Adjust financial statements for accounts receivable and bad debts
- Adjust financial statements for the aging of accounts receivable to report on how much and how long a firm has been owed revenue
- Discuss and identify different forms of measure management associated with revenue and receivables
- Distinguish between physical and accounting flows of inventory and identify costs that are and are not categorized with inventory
- Compare and contrast the “Last In, First Out (LIFO)” method of inventory to the “First In, First Out (FIFO)” method, outlining the circumstances in which each may be beneficial
- Create entries for the life cycle of inventory under a variety of accounting flow assumptions
- Explain and identify different forms of measure management associated with inventory
Download Brochure
Fill out the form below to download program information and connect
with us.
Download a Brochure
Not ready to enroll but want to learn more? Download the course brochure to review program details.How It Works
Course Length
2 weeks
Effort
5 to 7 hours of study per week
Format
100% online, instructor-led
Course Author
Robert Bloomfield
Professor
Cornell SC Johnson College of Business
Who Should Enroll
- Individuals seeking to enter the field of accounting or auditing
- Managers involved in financial forecasting and investments
- Entrepreneurs seeking investors and/or investment opportunities
- Pre-MBA students interested in gaining an accounting background
Get It Done
100% Online
100% Online
Our programs are expressly designed to fit the lives of busy professionals like you.
Learn From
cornell's Top Minds
cornell's Top Minds
Courses are personally developed by faculty experts to help you gain today's most in-demand skills.
Power Your
career
career
Cornell's internationally recognized standard of excellence can set you apart.
Stack To A Certificate
Request Information Now by completing the form below.
Act today—courses are filling fast.