Using Financial Data to Transform Your Small Business
Issued by
Kansas State University
The earner demonstrated the ability to use specific tools to create and analyze financial statements and budgets, thus making informed business decisions.
- Time Hours
Skills
Earning Criteria
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Understand the value of using financial statements to make decisions in your business
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Understand the power of budgeting for proactive decision-making (as opposed to reactive) in your business
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Learn to answer questions such as: Why don’t I have more cash? How much should I charge? Should I increase prices? Where are my costs increasing?
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Create financial statements for the fictitious company: World’s Best Cup of Coffee
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Create financial statement forecasts and budgets (based on current financial statements and future expectations) for World’s Best Cup of Coffee
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Demonstrate your mastery of the badge concepts by completing the quiz. You may retake the quiz up to three times; only your highest score will count.
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Identify and demonstrate the effects of transactions and economic events on the financial statements in corporations and other business entities.
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Prepare the fundamental financial statements.
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Analyze and interpret the information presented in the financial statements.
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Measure the value of assets, liabilities, and stockholders’ equity (including an introduction to fair value accounting).
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Project/forecast the financial statements
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Construct basic budgets based on financial statement forecasts
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Use the financial statements (current and projected) and budgets to make informed business decisions
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Understand how to use financial statements and budgets to make good "data driven" business decisions.
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Content requires approximately 20 to 25 hours to complete.