Basic math and accounting.

Course Description

This course covers everything business people and managers need to know about accounting and finance. It is directed at the businessperson who needs financial and accounting know-how but who has not had formal training in these areas. The entrepreneur or sole proprietor also needs this knowledge; he or she may have brilliant product ideas, but not the slightest idea about financing. The goal of the course is to provide a working knowledge of the fundamentals of finance and accounting that can be applied in the real world, regardless of firm size. It gives nonfinancial managers the understanding they need to function effectively with their colleagues in finance.


Delta Publishing

For many years, Delta Publishing has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.

Course Specifics

Feb 13, 2018
Basic math and accounting.

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify the scope, role, and importance of finance
  • List and define the responsibilities of financial managers
  • Distinguish between accounting and finance
  • Identify the financial and operating environments

Chapter 2 

  • Cite important concepts of cost data
  • List and describe the types of costs
  • Identify other cost concepts used for planning, control, and decision making
  • Define the concept of cost behavior
  • Identify how to segregate fixed cost and variable cost
  • Compute the factors in cost analysis 

Chapter 3

  • Define contribution analysis
  • Identify how to price a special order
  • Cite how to determine a bid price
  • Identify how to determine profit from year to year
  • Cite how to utilize limited capacity

Chapter 4

  • Identify the relationships among costs, volume, and profit
  • Cite important concepts related to break-even sales
  • Define the concept of margin of safety
  • Determine the cash break-even point
  • Identify the importance of sales mix to profit making

Chapter 5

  • Identify relevant costs
  • Identify how to accept or reject a special order
  • Identify how to price standard products
  • Determine whether to sell or process further
  • Identify whether to add or drop a product line
  • List qualitative factors

Chapter 6

  • Cite the uses of sales forecasts
  • Identify how to prepare a financial forecast
  • Cite important tenants of the percent-of-sales method of financial forecasting
  • Diagram the basic structure of the budget
  • Identify a shortcut approach to formulating the budget
  • Identify ways that an electronic spreadsheet can be used to develop a budget
  • Identify computer-based models used for financial planning and budgeting

Chapter 7

  • Define standards
  • Identify useful aspects of variance analysis
  • Identify how to set standards
  • Calculate sales variances
  • Identify and list cost variances
  • Cite the use of flexible budgets in performance reports
  • Identify variances in warehousing costs

Chapter 8

  • Define working capital
  • Cite how to finance an asset
  • Identify how to manage cash properly and get money faster
  • Identify how to delay cash payments
  • Compute the opportunity cost of foregoing a cash discount

Chapter 9

  • Define credit references
  • Identify steps to create a credit policy
  • Identify the relationship between accounts receivable and credit

Chapter 10

  • List inventory management considerations
  • Define inventory analysis
  • Identify carrying and ordering costs
  • Cite how to avoid stock-outs
  • Determine the most efficient reorder point
  • Cite the concepts of the ABC inventory control method

Chapter 11

  • Determine future values
  • Calculate intra-year compounding
  • Calculate the future value of an annuity
  • Calculate the present value
  • Cite present values of mixed streams of cash flows
  • Calculate the present value of an annuity
  • Define perpetuities
  • List applications of future values and present values

Chapter 12

  • Identify the types of capital budgeting decisions
  • Name basic capital budgeting techniques
  • Identify how to select the best mix of projects with a limited capital-spending budget
  • Cite how income tax factors affect investment decisions
  • List the various types of depreciation methods
  • Identify the effect of modified accelerated cost recovery system (MACRS) on capital budgeting decisions
  • Compute a firm's cost of capital

Chapter 13

  • Calculate the rate of return on investments (ROI)
  • Identify the basic components of the Du Pont formula
  • Cite how to use the Du Pont formula for profit improvement
  • Cite important aspects regarding the relationship between ROI and return on equity (ROE)
  • Define the concepts of financial leverage and the stockholder's return

Chapter 14

  • Identify ways to appraise manager performance
  • List the types of responsibility centers
  • Differentiate between the ROI and residual income (RI)

Chapter 15

  • Identify how to use trade credit
  • Calculate cash discounts
  • Identify how to obtain bank loans
  • Cite how to take out a commercial finance company loan
  • Identify inventory financing methods

Chapter 16

  • Cite important aspect when using intermediate-term bank loans
  • Identify uses for revolving credit
  • List insurance company term loans
  • Identify how to finance with equipment
  • Identify the benefits of leasing
  • Differentiate between lease purchasing options

Chapter 17

  • Cite elements the process of investment banking
  • Differentiate between publicly and privately placed securities
  • Identify how to go public and prepare an initial public offering (IPO)
  • Define venture capital financing
  • List examples of types of long-term debt
  • Differentiate between types of equity securities
  • Identify how to obtain financing online

Chapter 18

  • Cite important aspect in preparing an income statement and balance sheet
  • List the components of the income statement
  • Name the components of the balance sheet
  • Identify how to prepare a statement of cash flows

Chapter 19

  • Define the double entry system and the accounting equation
  • Identify ways to apply transaction analysis to simple business transaction in terms of the accounting model: Assets = Liabilities + Equity
  • Cite methods to prepare accounting records
  • Identify how to post accounts to the various ledgers
  • List the entries entered into the journal

Chapter 20

  • Identify reasons for financial statement analysis
  • Distinguish between horizontal and vertical analysis
  • Differentiate between industry comparison and trend analysis
  • Identify uses for financial ratios

Table of Contents

Chapter 1 – Essentials of Accounting and Finance

Learning Objectives

The Manager’s Concern with Finance

The Scope and Role of Finance

The Importance of Finance

The What and Why of Finance

What Are Financial Managers Supposed to Do?

What Is the Relationship Between Accounting and Finance?

Financial and Operating Environment

Financial Institutions and Markets

Financial Assets versus Real Assets

Basic Forms of Business Organizations

Sole Proprietorship



Subchapter S Corporation

Limited Liability Company and Limited Liability Partnership


Chapter 1 Review Questions

Chapter 2 – Types of Cost Data and Cost Analysis

Learning Objectives

Importance of Cost Data

Types of Costs

Costs by Function

Costs by Ease of Traceability

Costs by Timing of Charges against Revenue

Costs by Behavior

Costs by Averaging

Costs by Controllability

Other Important Cost Concepts Useful for Planning, Control, and Decision Making

How Do Your Costs Behave?

Costs by Behavior

Segregating Fixed Cost and Variable Cost

Cost Allocation

Cost Analysis

What You Can Learn from the Latest Practices


Chapter 2 Review Questions

Chapter 3 – Contribution Analysis

Learning Objectives

Should You Accept a Special Order?

How Do You Determine a Bid Price?

Determining Profit from Year to Year

Are You Utilizing Capacity?


Chapter 3 Review Questions

Chapter 4 – Break-even and Cost-volume-profit Analysis

Learning Objectives

What Is Cost-Volume-Profit Analysis?

What and Why of Break-Even Sales

What Is Margin of Safety?

Cash Break-Even Point

What Is Operating Leverage?

Sales Mix Analysis


Chapter 4 Review Questions

Chapter 5 – Relevant Cost and Making Short-Term Decisions

Learning Objectives

What Costs Are Relevant to You?

Accepting or Rejecting a Special Order

Pricing Standard Products

Analyzing the Make-or-Outsource Decision

Determining Whether to Sell or Process Further

Adding or Dropping a Product Line

Utilizing Scarce Resources

Don’t Forget the Qualitative Factors


Chapter 5 Review Questions

Chapter 6 – Forecasting Cash Needs and Budgeting

Learning Objectives


Using Forecasts

Preparing Financial Forecasts

Percent-of-Sales Method of Financial Forecasting


What Assumptions Must Be Made?


he Structure of the Budget?

The Sales Budget

The Production Budget

The Direct Material Budget

The Direct Labor Budget

The Factory Overhead Budget

The Ending Inventory

The Selling and Administrative Expense Budget

The Cash Budget

The Budgeted Income Statement

The Budgeted Balance Sheet

A Shortcut Approach to Formulating the Budget

Computer-Based Models for Financial Planning and Budgeting


Chapter 6 Review Questions

Chapter 7 – Cost Control and Variance Analysis

Learning Objectives

Defining a Standard

The Usefulness of Variance Analysis

Setting Standards

Determining and Evaluating Sales Variances

Cost Variances

Labor Variances

Overhead Variances

The Use of Flexible Budgets in Performance Reports

Standards and Variances in Marketing

Sales Standards

Analyzing Salesperson Variances

Variances in Warehousing Costs


Chapter 7 Review Questions

Chapter 8 – Managing Financial Assets

Learning Objectives

Working Capital

Financing Assets

Managing Cash Properly

Getting Money Faster

Delaying Cash Payments

Opportunity Cost of Foregoing a Cash Discount

Volume Discounts


Chapter 8 Review Questions

Chapter 9 – Managing Accounts Receivable and Credit

Learning Objectives

Credit References

Credit Policy

Analyzing Accounts Receivable


Chapter 9 Review Questions

Chapter 10 – Managing Inventory

Learning Objectives

Inventory Management Considerations

Inventory Analysis

Determining the Carrying and Ordering Costs

The Economic Order Quantity (EOQ)

Avoiding Stockouts

Determining the Reorder Point or Economic Order Point (EOP)

The ABC Inventory Control Method


Chapter 10 Review Questions

Chapter 11 – The Time Value of Money

Learning Objectives

Future Values: How Money Grows

Intra-year Compounding

Future Value of an Annuity

Present Value - How Much Money Is Worth Now?

Present Value of Mixed Streams of Cash Flows

Present Value of an Annuity


Applications of Future Values and Present Values

Deposits to Accumulate a Future Sum (or Sinking Fund)

Amortized Loans

Annual Percentage Rate (APR)

Rates of Growth

Compound Annual Rate of Interest

Bond Values


Chapter 11 Review Questions

Chapter 12 – Capital Budgeting Decisions

Learning Objectives

What Are the Types of Investment Projects?

What Are the Features of Investment Projects?

How Do You Measure Investment Worth?

Payback Period

Accounting Rate of Return

Net Present Value

Internal Rate of Return

Profitability Index

Select the Best Mix of Projects with a Limited Budget

Income Taxes and Investment Decisions

Types of Depreciation Methods

Straight-Line Method

Sum-of-the-Years’-Digits (SYD) Method

Double-Declining-Balance (DDB) Method

How Does MACRS Affect Investment Decisions?

The Cost of Capital

Cost of Debt and Preferred Stock

Cost of Retained Earnings

Measuring the Overall Cost of Capital


Chapter 12 Review Questions

Chapter 13 – Improving Managerial Performance

Learning Objectives

What Is Return On Investment (ROI)?

What Does ROI Consist of? —Du Pont Formula

ROI and Profit Objective

ROI and Profit Planning

ROI and Return on Equity (ROE)

A Word of Caution


Chapter 13 Review Questions

Chapter 14 – Evaluating and Improving Your Department's Performance

Learning Objectives

Appraising Manager Performance

Responsibility Center

Revenue Center

Cost Center

Profit Center

Transfer Pricing

Investment Center

Return on Investment (ROI)

Residual Income (RI)

Decisions under ROI and RI


Chapter 14 Review Questions

Chapter 15 – Sources of Short-Term Financing

Learning Objectives

How to Use Trade Credit

Cash Discounts

When Are Bank Loans Advisable?

Are You Eligible for an Unsecured Loan?

What Will You Give to Obtain a Secured Loan?

What Line of Credit Can You Get?

What Is an Installment Loan?

How Do You Compute Interest?

Working with a Bank

What Are Bankers’ Acceptances?

Are You Forced to Take Out a Commercial Finance Company Loan?

Issuing Commercial Paper

Using Receivables for Financing?

Using Inventories for Financing?

What Other Assets May Be Used for Financing?


Chapter 15 Review Questions

Chapter 16 – Considering Term Loans and Leasing

Learning Objectives

Intermediate-Term Bank Loans

Using Revolving Credit

Insurance Company Term Loans

Financing with Equipment


Lease-Purchase Decision


Chapter 16 Review Questions

Chapter 17 – Long-Term Debt and Equity Financing

Learning Objectives

Investment Banking

Publicly and Privately Placed Securities

Going Public—Initial Public Offerings (IPO)

How Does Going Public Work?

The Pros of Going Public

The Cons of Going Public

How to Avoid the Drawbacks of Going Public

What Is the Process for Going Public?

Alternatives to Going Public

Venture Capital Financing

Types of Long-Term Debt



Computing Interest

Types of Bonds

Bond Ratings

The Advantages and Disadvantages of Debt Financing

Bond Refunding

Equity Securities

Preferred Stock

Common Stock Features

Stock Rights

How Should You Finance?

Working a Loan Online

Raising Equity and Venture Capital Online


Chapter 17 Review Questions

Chapter 18 – Interpreting Financial Statements

Learning Objectives

The Income Statement and Balance Sheet



Net Income (Loss)




The Statement of Cash Flows

FASB Requirements

Accrual Basis of Accounting

Operating Activities

Investing Activities

Financing Activities


Chapter 18 Review Questions

Chapter 19 – Accounting Conventions and Recording Financial Data

Learning Objectives

Double Entry and the Accounting Equation

The Accounting Equation

The Account


A Chart of Accounts

The System of Debits and Credits

The “How and Why” of Debits and Credits



Chapter 19 Review Questions

Chapter 20 – Assessing Financial Health and Fitness

Learning Objectives

The What and Why of Financial Statement Analysis

Horizontal and Vertical Analysis

Working with Financial Ratios


Asset Utilization

Solvency (Leverage and Debt Service)


Market Value

An Overall Evaluation – Summary of Financial Ratios


Chapter 20 Review Questions

Review Question Answers and Rationales



Qualified Assessment

Answer Sheet

Course Evaluation

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