What you'll learn:
- How to Apply Accounting Principles to Real-World Applications
- How to Buy a Business, The Most Important Number in the World (Earnings per share)
- Stock Applications Within a Business, Hope VS. Reality in Investing, Risks in Investing, Argument for Capitalism
- Regulatory Bodies, Why Study Accounting?
- Information System and its Applications, Moore's Law in Industry, Database Applications, Future of the Accounting Profession
- How an MBA can help you, Real-world Implications of Business Fraud, Fraud Statistics, Internal Controls, Preventing Fraud,
- Taxes, USA Tax system, Constitutionality of Income Tax, Optimal Tax Rate, Laffer Curve, Tax Strategies
- Retirement Planning, How to Minimize Taxes, Ethics of Tax Planning, Tax Avoidance vs Tax Evasion, Tax Loopholes, Careers in Taxation
- Stock Marketing Investing Fundamentals, Should I Invest?/ P/E ratios, Earnings Per Share, Mutual Funds, Stock advice, Start Early
- History of Management Accounting, ROI, Toyota as an Example, Just In Time (JIT),Managed Care as a Business, Balanced Scorecard, Careers
- Personal Financing and Future Planning, Marriage and Money, The Power of a Budget, How to Use Credit Cards, Financial Wisdom
- Rent vs. Buying a car, Lease vs. Buying a House, Insurance, Extended Warranties, Retirement, How to Save Money for the Future
- Career Choices, How to Find your Passion in Life, Stewardship vs. Ownership, Why Major in Business?
- What is True Financial Independence, Temptations of Wealth, Multi-Level Marketing Pitfalls, How to Make big Life Choices
- Don't Rush, Why Education is Never a Waste of Time, Living Modestly Gives You Freedom!
Welcome to the Norm Nemrow AC 5 - Accounting Course 5 of 5
This is where the rubber hits the road. In the 4 main courses you learned the nuts and bolts of accounting and here in this 5th course we teach you how those fundamental principles apply to the REAL WORLD. In the 4 courses we learn knowledge, but here we learn wisdom with real-life examples. As you can see below, we present 8 new lessons that will help you see how an accounting education relates to the world around you. This is an eye-opening experience.
For example, In Course #1, Lesson 10, you learned how to analyze the Financial Statements. Then in Course #5, Lesson #5 below, we help you see how to take your knowledge of the financial statements and use that understanding to invest in the stock market. Although, not intended to be a full investment course, these lessons show you how to APPLY what you have learned.
In some respects, these 8 Lessons are the most powerful presentations we offer. These lessons are taught by world experts in their respective fields of study, and you will see how accounting applies to world around you like never before. While its impossible to cover all the applications that an accounting education can influence, we cover many of them here which will give you an excellent foundation as you continue with your education.
These lectures are so powerful for our on-campus students that every semester we DOUBLE the amount of students who are interested in majoring in our world-renowned accounting program. No other university program on the planet has that level of recruitment and we tie that interest to these specific lessons in course #5. Why is that? Because when students see HOW accounting principles can be applied to the real world, their minds open up and they see the VALUE and WISDOM of an accounting education.
This is what makes our course so powerful, the ability to focus on the core ideas and then learn how we can take those principles and create real change in our lives and companies. Awesome things happen when we take theory and apply it!
Courses Offered (All FIVE courses build on each other in order - Although Course 5 can be generally viewed after Course 1 & 2. We do make specific recommendations in the "Watch After" section):
Course 1: Introduction to Financial Accounting
Course 2: Introduction to Managerial Accounting
Course 3: Advanced Financial Accounting
Course 4: Advanced Managerial Accounting
Course 5: Accounting Capstone (THISCOURSE)
Course 5 Lesson Descriptions and Minimum Pre-Requisite Lessons
(While it's not absolutely crucial you watch the noted pre-requisite lessons, you are likely to comprehend these lessons better once you have studied the pre-requisite material.)
Lesson 1: The Importance of Financial Accounting in the U.S. and Global Economies
Description: In this lesson we discuss the most powerful number in the world - EARNINGSPERSHARE (EPS). No other number moves the world like this one. Understanding EPS and how to calculate it can dramatically change your life as you venture into the stock market. We also discuss some ideas relative to buying a business, the lessons from the .COM boom and bust, and why capitalism is so beneficial in today's global economy.
Watch After: Course 1: Lesson 1
Lesson 2: The Impact of Information Technology on Accounting and Business
Description: In this Lesson we discuss information technology and how we use computers to make decisions in our businesses, which is a crucial aspect of management accounting. We also discuss database technology and Moore's law as well as many other applications within Information Technology.
Watch After: Course 2: Lesson 1
Lesson 3:
Business Fraud, Ethics, and the Accounting Profession
Description: In this lesson, we learn about fraud, which may not sound super interesting at first glance, but what we have to share could save your business. Fraud is unfortunately a huge part of our world and is more around you than you might think. It's important to learn the the biggest risk factors of fraud, the different kinds of fraud and most importantly, how to prevent it.
Watch After: Course 1: Lesson 7
Lesson 4: Introduction to Tax Planning and Career Options in Taxation
Description: Dreaded TAXES! They are never fun to pay, but it is fun to learn how to pay the least legal amount. Here we help you see how to plan effectively for taxes, tax loopholes, and even careers in tax. You'll either be manhandled by taxes or learn how manage them with wisdom... we opt for the latter.
Watch After: Course 1: Lesson 7 & Course 3: Lesson 6
Lesson 5:
Description: Accounting, Finance, and Stock Marketing Investing
This is often the most exciting lesson for students! You learned a lot of theory and principles inCourse #1 relative to financial statements and stocks, but here we teach you how to take what you have learned and venture into the stock market itself. We love the reaction of our students when they "get it" and see how everything they have learned relates to the real-world of Wall Street.
Watch After: Course 1: Lesson 10 & Course 3: Lesson 11
Lesson 6:
Money, Family, and Career Choices
Description: This is Norm at his BEST! In this lesson Norm presents his wisdom from decades of experience as an educator and successful businessman. Norm found his passion in life and gives you the secrets on how to find yours. This may be the most powerful set of concepts we present in all our courses. Norm also discusses the truth and secrets behind "Financial Independence" and what it means to be a steward and owner and meaning of money. You won't find this kind of wisdom anywhere else... we strongly recommend you take notes.
Watch After: Course 1: Lesson 1-5 & Financial Practice Set (This lesson is so good, please don't delay too long :) )
Lesson 7:
Managerial Accounting: Current Trends in Practice and Career Opportunities
Description: This is a must for anyone thinking of pursing management accounting as a career. Here we discuss the managerial trends by analyzing Toyota and Dupont and other examples. We also discuss JIT (Just in Time) production, which is a powerful concept. We also focus on future trends in the industry.
Watch After: Course 2: Lesson 1 & Course 4: Lesson 1
Lesson 8:
Key Elements in Successful Personal Financial Planning
Description: In this Lesson Norm gives his advice in how to run your financial life within a family and how to plan for the future. Learn how soft drinks can cost you over a $100,000? ... don't believe him... watch the lesson. Although Budgets aren't super fun to think about, Norm makes a compelling case how it can change your life and give you more freedom to pursue your life mission. Listen to Norm when he says, "Live modestly" and it will change your life for the better.
Watch After: Course 1: Lesson 1-5 & Financial Practice Set
