Small business owners in addition to understanding the business also need to understand two basic subjects. Finance and accounting. Here are two free online courses on accounting and finance that provide introductory training in accounting and finance. You can jump straight in or take a more detailed tour that follows:
- Corporate Finance Training: First Course in Corporate Finance – Training Guide
- Basic Accounting Training: First course in accounting for small business – Training Guide
Accounting Crash Course
The basic accounting short course for small business was put together as a quick accounting survival guide for accounting neophytes. As small business owners while most of us understand debit and credit and the concept of Journals and Ledgers, some of us missed the formal organization of an accounting course. The course starts with the very basics of accounting and builds up to the trial balance. The next part of this course will review the 3 financial statements including the balance sheet, the P&L and the statement of cash flows.
For those of you new to the topics of finance and accounting a quick terminology refresher may be useful. You may want to see the first course in finance before you start on the accounting materials.
- Basic Accounting training: Accounting training for small businesses
- Basic accounting training: Accounting training for small businesses – Introducing Debit & Credit
- Basic accounting training: Accounting training for small businesses – Preparing the T-account
- Accounting training: Small business accounting training – Books of Original Entry – Journals and Ledgers
- Accounting training: Small Business Accounting Training – Sales Journal and Sales Ledgers
- Accounting training: Small Business Accounting Training – Sales Journal, Sales Ledger and Trade discounts
- Accounting training: Small Business Accounting Training – Purchases Journal and Purchases Ledger
- Basic Accounting training: Small Business Accounting Training- Integrating Sales, Purchases & Returns
- Basic Accounting training: Accounting Training for small businesses- Cash Book and recording cash discounts
- Basic Accounting training: Small Business Accounting Training: Cash Book Example
- Basic accounting training: Small business accounting training – General Ledger example
- Accounting Short training: Small Business accounting training – The Trial Balance and accounting control
- Accounting short training: Small business accounting training – Reviewing the Trial balance example
First Course in Corporate Finance
The first course in Corporate Finance introduces concepts of Financial Statements, Time Value of Money, Risk and Return, Opportunity Cost, Cost of Capital, Weighted Average Cost of Capital and Return measures. It includes a case study on Electronic Arts valuation.
- The first training course in Corporate Finance – Session Zero
- Corporate Finance Training: Financial Statements – Balance Sheet, Profit & Loss and Cash flows
- Corporate Finance Training: The Balance Sheet, Assets, Depreciation
- Corporate Finance Training: Balance Sheet: Liabilities & Working Capital
- Corporate Finance Training: Equity and the Income Statement
- Corporate Finance Training: Risk & Return
- Corporate Finance Training: The many faces of Return: ROE, ROIC and Payback
- Corporate Finance Training: Discount rate and time value of money
- Corporate Finance Training: Present Value in Action
- Corporate Finance Training: Calculating Internal Rate of Return or IRR
- Corporate Finance Training: Opportunity Cost and Cost of Capital
- Corporate Finance Training: Beta, Calculating WACC or Weighted Average Cost of Capital
- Corporate Finance Training: Case Study: Electronic Arts (EA): Session IV
I’ve been in Finance for so long that I’ve decided that I wnated to do a different degree that was along the lines of my future goals Law. I did my BBA in Legal Studies. I was a Finance major at first. I will suggest that you stick with the Finance Major vs the Business Administration. I mean if you think about what exactly is the B.A. offering you when the bottom line of the degree is in Business Administration? To have a specialty gives you a know-how’ that makes you more adept in taking on positions that offer stellar pay as Finance and Accounting is known for. Each person is different in terms of what they want to do with their future goals. I normally see students minor in Business Administration if their Undergraduate Degree is in a totally different realm. This is only to signal to the employer that you are versatile and have business skills. If you are a business student I suggest Finance if this is what you want. Finance is definitely interesting and keeps you on the toes not just in the sense of performing statistical analysis but also conducting market and financial research including technical analysis which keeps you in the loop of world news as much as national news. You begin to witness the chain in global commerce media and how it effects one another and inevitably effects the market as well as consumers far and near. Another point that comes to mind is the institution that is granting the Finance degree. What is their reputation in the Finance Department? Are they first class? Are they top-rated? Usually the glamourous pay but slave to your job are firms off of W-Street which hit Ivy league schools to join their Associate or Summer programs. These programs, once selected ..highly selective, gear you up for positions such as equity or fixed-income analysts. Again, the pay is here, the perks are there, but you get no life. If you’re looking to have that lifestyle then ensure your alma-matter can deliver. Your grades will obviously have to stand on its own and well .. if you have connections then use them.If you want something more exciting in Business then go for Marketing. I’m leaning to the Marketing aspect in my MBA program which will play instrumental in my Entertainment Law (Law, Marketing, Finance (Budgeting)).Good luck with everything. P.S. I suggest you take a few finance classes (required and as an elective) before you decide.