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Accounting Courses Online

Each of the following multiple-choice business management tests has 10 questions. No sign-up required, just straight to the test.
 
 

Accounting Courses:

Financial Accounting

Managerial Accounting

Financial Markets

Economic and Financial Crises

Investing Basics - Motley Fool

Financial Statements

IRS - federal income tax tables and forms

Sister States Tax Directory - state tax forms, publications and information

US Tax Code Online - complete text of the US Tax Code

Yahoo! Tax Center - tax explanations, tips on reducing taxes, and tax forms


Starting Your Own Business

MIT Entrepreneurs case studies of successful start-up companies by MIT alumni.

How to Write a Business Plan

The Art of Negotiation

Launch a Successful Startup Company

Zero-Cost Marketing Strategies

Online Marketing


Financial Management Courses Online

Sample Resumes - write an effective resume, and prepare for an interview

Series-7.com - stockbroker training and exam resources

CNN Money - business news

Bloomberg - financial market coverage

MBA Programs - world-wide directory of MBA programs

Reuters.com - financial news

SEC - Securities and Exchange

Data Libraries - beyond Google: invisible and comprehensive data resources

Stock Market Game - real-time trading simulation

Wall Street Executive Library - business reference

Certified Public Accountant – Now more than ever, the CPA degree is becoming a requirement for staying competitive in the accounting profession. Demand for Accounting Professionals with a CPA certificate is extremely high, as are CPA jobs. Each state has specific requirements for licensing, so you must refer to your state board of accountancy. In general, 150 semester credits from an accredited college or university, a minimum of a bachelor's degree, and a specified number of accounting and business courses is needed to pass the Uniform CPA Exam. In certain states it is also possible to earn a CPA certificate without having public accounting audit hours. However, you must still work under a CPA.

Balance Sheet

The accounting balance sheet is one of the major financial statements used by accountants and business owners. The other major financial statements are the income statement, statement of cash flows, and statement of stockholders' equity. The balance sheet presents a company's financial position at the end of a specified date. Because the balance sheet informs the reader of a company's financial position, as well as what it owes to other parties, this is valuable information.

Assets are the resources of the company, and have future economic value that can be measured in dollars. Assets commonly cover cash on hand, accounts receivable, buildings and equipment, but also include costs paid in advance such as prepaid advertising, prepaid insurance, prepaid legal fees, and prepaid rent. Examples of asset accounts that are reported on the balance sheet may include, but are not limited to:

• Cash
• Petty Cash
• Temporary Investments
• Accounts Receivable
• Inventory
• Supplies
• Prepaid Insurance
• Land & Improvements
• Buildings
• Equipment
• Goodwill
• Bond Issue Costs
• Allowance for Doubtful Accounts
• Accumulated Depreciation - Land & Buildings
• Accumulated Depreciation - Equipment
• Accumulated Depletion


Liabilities are obligations of the company, amounts owed to creditors for a past transaction, or payables such as wages, rents, or taxes. Along with owner's equity, liabilities can be thought of as a source of the company's assets, as well as a claim against a company's assets. Liabilities may also include amounts received in advance for future services, reported as Unearned Revenues or Customer Deposits. Typical liabilities include the following:

• Notes Payable
• Accounts Payable
• Salaries Payable
• Wages Payable
• Interest Payable
• Other Accrued Expenses Payable
• Income Taxes Payable
• Customer Deposits
• Warranty Liability
• Lawsuits Payable
• Unearned Revenues
• Bonds Payable
• Discount on Notes Payable
• Discount on Bonds Payable

A company's commitment to purchase goods may be legally binding, but is not considered a liability on the balance sheet until actual services or goods have been received. Commitments must be disclosed in the notes appending the balance sheet. Similarly, the leasing of an asset may appear to be a rental cost, but in substance it may involve an agreement to purchase the asset and finance it through monthly payments. Therefore, accountants must look past outward appearances, and focus on the substance of business transactions.

Contingent Liabilities include warranty of a company's products, the guarantee of another party's loan, and lawsuits filed against a company. If the contingent loss is highly probable, and the amount of the loss can be estimated, the company needs to record a liability on its balance sheet and a loss on its income statement. However, if the contingent loss is only a remote possibility, no liability or loss is recorded and there is no need at that time to include the matter in notes to the financial statements.

Income Statement

The income statement is often referred to as a profit and loss statement (P&L;), statement of operations, or statement of income. The income statement is important because it shows the profitability of a company during the time interval specified in its heading. The income statement shows revenues, expenses, gains, and losses, but it does not include cash receipts nor cash disbursements. This information is collected in a Statement of Cash Flows.

Revenues from primary activities are often referred to as operating revenues. The primary activities of a business are purchasing merchandise or raw materials and selling products, referred to as sales revenues or sales. The primary activities of a company that provides services involve selling expertise to clients. For companies providing services, the revenues from their primary services are referred to as service revenues or fees. It is common in business to extend a modest amount of time to repeat customers to pay for purchases. For example, if a retailer gives customers 30 days to pay, revenues occur (and are reported) when the merchandise is sold to the buyer, not when the cash is received 30 days later.

Non-operating Revenues are amounts a business earns outside of purchasing and selling goods and services. For example, when a retail business earns interest on some of its idle cash, or sells an commodity investment for a capital gain, these revenues result from an activity outside of buying and selling merchandise. As a result the revenues are reported on the income statement separate from its primary activity of sales or service income.

Expenses involved in primary activities are expenses that are incurred in order to earn normal operating revenues. Under the accrual basis of accounting, the cost of goods sold and expenses are matched to sales and the accounting period when they are used, not the period in which they are paid. Because of the cost principle and inflation, the expenses shown on the income statement reflect costs that may have different present values. An accountant, though, is not allowed the luxury of waiting until things are known with certainty, so in order to properly account for revenues when they are earned, and expenses when they are incurred, accountants must often use cost estimates.

Secondary Expenses are referred to as non-operating expenses. For example, interest expense is a non-operating expense because it involves the finance function of the business, rather than the primary activities of buying, producing and selling merchandise. Losses such as the loss from the sale of long-term assets, or the loss on lawsuits result from a transaction that is outside of a business's primary activities. A loss is reported as the net of two amounts: the amount listed for the item on the company's books (book value) minus the proceeds received from the sale. A loss occurs when the proceeds are less than the original book value.

Net Income occurs when the net amount of revenues and gains minus expenses and losses is positive, the bottom line of the company's performance. If the net amount is negative, there is a net loss. A company's ability to operate profitably is paramount to both lenders and investors, company management, labor unions, and government regulators.

Liquidity Ratios: Acid Test

Liquidity ratios are used to help assess whether a business has sufficient cash or equivalent current assets to be able to pay its debts as they fall due within the year. A business that finds that it does not have the cash to settle its debts becomes insolvent. The formula for the acid test ratio is Current Assets minus Inventory, divided by Liabilities. The reason is that not all assets can liquidated into cash at fair market value. Notably, raw materials and large inventories of product must first be sold, and then cash collected from debtor accounts.

The Acid Test Ratio, sometimes also called the Quick Ratio, adjusts the Current Ratio to eliminate those current assets that are not already in cash form. An acid test ratio of over 1.0 is good news; the business is well-placed to be able to pay its debts even if it cannot turn inventories into cash. Care has to be taken when interpreting the acid test ratio. The value of inventory that a business needs to hold will vary considerably. For example, you wouldn’t expect a law firm to carry inventory, but a major supermarket carries a large dollar value of inventory at any given time.

Topics in Accounting

Managerial Finance
Business Financing
Stock Reports
IPO Summary
Financial Software
Offshore Accounts
Annuities
Retirement
Tax Planning
Wills & Estate Planning
Identity Theft
Bankruptcy
Debts
Capital Gains


Cash Flow Statements
Assets
Cash
Debts
Securities
Liabilities
Short-term Liabilities
Bank Lines of Credit
Accounts Payable
Long-term Liabilities
Mortgages
Lease payments
Income Statement
Sales
Customers
Credit
Accounts Receivable
Expenses
Product Costs
Suppliers
Raw materials
Manufacturing Costs
Factory Costs
Logistics
Cost of Doing Business
Wages
Leases
Mortgages
Utilities
Supplies
Interest Payments
Investing (gain/loss)
Gross Income
Taxes
Profits
Reinvestment
Dividends
Retained Earnings


NASDAQ Market

The art of investments is based on the mathematical principle of doublings over time. While a typical business venture is happy to receive an ROI of 10% yearly, more aggressive returns are possible in the internet age, without incurring undue risk. This page will explore the new medium of MROI, a monthly return on investment.

Along more traditional lines, NASDAQ offers a wealth of investing tutorials, and live streams of data from it's online network of websites, headquartered at Nasdaq.com. At a minimum, browse their stock screener and financial analysis pages. Below, find links directly to Nasdaq pages, offering updated interactive charts, volume trading, summary quotes, and IPO disclosures.

Investing Basics

Stocks
Options
Commodities
Bonds
Forex
Mutual Funds
Investing Tools
Stock Screener

NASDAQ Stock Market

Stock Quotes
Basic Charts
Interactive Charts
Most Active
Unusual Volume
IPO Summary

Company Data

Stock Reports
Financials
Analyst Research

 

Accounting Department Rankings - Undergraduate

An Associate Degree can serve as a starting point for some entry-level accounting positions and as a basis for earning a bachelor’s degree later on. By far, the most common accounting degree is a bachelor’s degree, required for most accounting positions.
 1. Stanford University - Stanford, CA
 2. University of Chicago - Chicago, IL
 3. University of Pennsylvania - Philadelphia, PA
 4. New York University (NYU) - New York, NY
 5. Princeton University - Princeton, NJ
 6. University of Michigan - Ann Arbor, MI
 7. Duke University - Durham, NC
 8. University of Texas Austin - Austin, TX
 9. Northwestern University - Evanston, IL
10. Boston College - Chestnut Hill, MA
11. Carnegie Mellon University - Pittsburgh, PA
12. Michigan State University - East Lansing, MI
13. Penn State University - State College, PA
14. Purdue University - West Lafayette, IN
15. University of Illinois Urbana-Champaign - Champaign, IL
16. University of North Carolina (UNC) - Chapel Hill, NC
17. University of Southern California (USC) - Los Angeles, CA
18. University of Wisconsin - Madison, WI
19. Georgetown University - Washington, DC
20. University of Oregon - Eugene, OR
21. Indiana University - Bloomington, IN
22. Johns Hopkins University - Baltimore, MD
23. Rutgers University - Camden, NJ
24. University of California San Diego (UCSD) - La Jolla, CA
25. University of Florida - Gainesville, FL
26. University of Maryland - College Park, MD
27. University of Virginia - Charlottesville, VA
28. Brigham Young University - Provo, UT
29. City University of New York (CUNY) - New York, NY
30. Iowa State University - Ames, IA

    Source: US News, Forbes, and Bloomberg

Accounting Jobs - Listings

As the economy improves, many firms are beginning to hire. The median entry level salary in public accounting is $59,000. After five years, you can expect to make somewhere between $70,000 to $85,000. Accounting salaries are higher on average in the private sector as compared to government jobs, and higher again if employed at the Big 4 accounting firms such as PWC, E&Y;, Deloitte and KPMG. Hiring managers typically post new jobs on targeted job sites at attract qualified applicants. Browse current job openings below by clicking on the type of position you'd like to pursue.

Each link below lists current openings:Starting Salary
(up to)
10 Year Salary
(up to)
Accountants$60,670$84,050
Actuaries$67,810$91,810
Advertising Managers$65,140$125,140
Advertising Sales$51,370$71,280
Appraisers Of Real Estate$51,110$86,140
Bill Collectors$30,640$53,930
Bookkeeping$31,780$46,020
Budget Analysts$63,920$93,080
Business Managers$74,070$124,070
Cashiers$17,930$27,210
Chief Executives$120,600$224,000
Claims Investigators$42,750$79,170
Commercial Divers$45,410$75,770
Couriers And Messengers$32,580$47,680
Credit Analysts$60,190$80,280
Editors$53,220$87,400
Employment Specialists$46,060$90,030
Executive Secretaries$39,160$59,740
Financial Analysts$71,240$118,000
Financial Managers$60,800$120,380
Hotel Clerks$25,480$37,030
Human Resources$32,200$48,320
Insurance Appraisers$49,980$68,420
Insurance Sales$58,450$85,090
Loan Officers$61,930$97,040
Marketing$67,610$107,610
Property Management$52,290$85,170
Public Relations$40,670$79,880
Purchasing$43,730$78,650
Receptionists$23,810$33,750
Retail Salespersons$27,200$42,930
Sales Managers$62,730$112,730
Secretaries$28,460$41,550
Shipping Clerks$27,480$40,590
Tax Preparers$33,160$56,640
Telemarketers$24,190$58,430
Tellers$34,900$56,610
Title Examiners$40,660$63,650
Transportation And Logistics$45,370$75,310
Wholesale And Retail Buyers$51,010$83,080


Top 20 Accounting Firms

1. PwC - New York, NY
2. Ernst & Young - New York, NY
3. Deloitte - New York, NY
4. KPMG - New York, NY
5. Grant Thornton - Chicago, IL
6. BDO USA - Chicago, IL
7. McGladrey - Chicago, IL
8. Plante Moran - Southfield, MI
9. Baker Tilly Virchow Krause - Chicago, IL
10. Crowe Horwath - Chicago, IL
11. Moss Adams - Seattle, WA
12. Rothstein Kass - Roseland, NJ
13. Friedman - New York, NY
14. Dixon Hughes Goodman - Charlotte, NC
15. Eide Bailly - Fargo, ND
16. Armanino - San Ramon, CA
17. Withum Smith Brown - Princeton, NJ
18. Brown Smith Wallace - St Louis, MO
19. Cohn Reznick - New York, NY
20. Berdon - New York, NY


  Source: Vault.com

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