Businesses use accounting to create financial statements and analyze the contents of those statements to keep track of their finances. In order for that information to be meaningful and represent companies fairly across the board, they all have to play by the same set of rules. Those principles are what we'll be talking about in this course. The principles of accounting include the various standards used throughout the world and why and how they differ. We'll discuss the U.S. standard, in particular, and some of the most important principles within it. These principles aim to make financial reporting useful to both investors and creditors, as well as those involved in making financial decisions and improving company performance.

Accounting jargon is a language all its own. If you're not familiar with the terminology, having an accounting-based conversation is virtually impossible. In this program, we'll help you learn to translate common financial terms so you can feel more comfortable interpreting and even engaging in corporate finance discussions. We'll go over four useful terms to give you a solid foundation for understanding and discussing company finances.

When a company tracks its income and expenses, the method it uses is called its "basis of accounting." The two most commonly used methods are called "cash basis" and "accrual basis." In this course, we'll talk about what these two methods are, how they differ, and the pros and cons of each.

Fraud is a biggie in the financial world. It can affect companies of every size, so one of the biggest concerns for any company should be the avoidance of fraud. Understanding what constitutes fraud can help make sure you have procedures in place to avoid it. In this program, we'll be discussing what fraud is, why it happens, and what can be done to prevent it.