Advanced Accounting: Costing, Auditing, and Fraud

via Coursera

Go to class Write review

Overview

Google, IBM & Meta Certificates – 40% Off

One Coursera Plus subscription covers most Professional Certificates on Coursera.

Unlock All Certificates

This course explores advanced accounting topics, including cost accounting, financial management strategies, internal controls, auditing, and fraud detection. Learners will deepen their understanding of how organizations manage costs, ensure accuracy, and safeguard assets. Covering job and activity-based costing, variance analysis, pricing strategies, and inventory management, this course equips learners to handle complex financial scenarios. It also addresses debt financing, business acquisitions, regulatory compliance, and the critical areas of internal controls, auditing, and fraud prevention. Learners will be prepared to identify risks, evaluate controls, and contribute to ethical financial management. With a focus on practical application and critical thinking, the course presents advanced accounting concepts in an accessible manner. Learners will gain the expertise needed to analyze, control, and protect organizational finances in dynamic business environments. This course is part three of a three-course Specialization designed to build a complete and cohesive understanding of the subject. While it offers valuable skills on its own, you'll gain the most benefit by progressing through all three courses as a structured learning journey. This course is based on Accounting All-in-One For Dummies, by Michael Taillard. From Accounting All-in-One For Dummies Copyright © 2022 by John Wiley & Sons, Inc., Hoboken, New Jersey Used by arrangement with John Wiley & Sons, Inc.

Syllabus

Costing Jobs
- This module provides an in-depth exploration of job costing methods, focusing on how to calculate and track direct and indirect costs for project-based financial management. Learners will discover how to apply these concepts in manufacturing environments and understand the flow of costs through a production system. By the end, they will be able to implement job costing strategies effectively.
Costing by the ABCs
- This module covers the principles and practical application of activity-based costing (ABC), helping learners understand how to allocate costs more accurately by linking them to specific activities. It provides insights into designing and testing ABC systems, as well as using ABC to determine product costs, profitability, and pricing strategies.
Contributing to the Margin
- This module provides an in-depth exploration of contribution margin, cost-volume-profit analysis, and break-even calculations. Learners will gain practical skills in analyzing how business decisions impact profitability and understand the role of operating leverage in financial planning. It also covers methods to determine target profit and assess financial performance.
Accounting for Change with Variance Analysis
- This module covers the fundamentals of variance analysis and standard costing, providing learners with the skills to measure financial uncertainty, calculate variances, and understand how overhead and labor costs impact financial estimates.
Pricing Wisely
- This module explores various pricing strategies, including cost-plus pricing, variable-cost pricing, and target costing, and how they influence business decisions and profitability. It provides insights into how businesses align pricing with cost structures and customer value perceptions. Learners will gain the ability to evaluate and apply different pricing models in real-world scenarios.
Formulating Equations
- This module focuses on understanding key financial metrics such as profitability, asset efficiency, liquidity, and solvency. Learners will gain the skills to analyze financial data and make informed business decisions based on quantitative analysis.
Matching Costs with Revenue
- This module covers the fundamentals of tangible assets, depreciation, and how costs are allocated over time to match revenue. Learners will understand the importance of accurate financial reporting and the impact of depreciation methods on a company's financial statements. The module also explores how businesses manage and schedule depreciation for fixed assets.
Exploring Inventory Cost Flows
- This module covers the classification of inventory types for merchandising and manufacturing companies, along with the application of inventory valuation methods such as FIFO, LIFO, and weighted average. Learners will gain a clear understanding of how to calculate the cost of goods sold and distinguish between different inventory categories.
Buying Wisely
- This module covers key financial evaluation techniques used in capital project decision-making, including payback period, net present value, and internal rate of return. Learners will gain an understanding of how to analyze and assess long-term investment opportunities using time value of money principles. The module equips learners with practical skills to evaluate project viability and make informed financial decisions.
Financing with Debt
- This module explores the strategic use of debt in business financing, covering key attributes like security, maturity, and sourcing options. Learners will gain insights into how different forms of debt can support business growth and financial stability. It also provides practical knowledge on evaluating and using various debt instruments.
Managing Results
- This module provides learners with the skills to interpret financial statements, understand the relationship between net income and cash flow, and analyze earnings per share trends to evaluate a company's financial health and make informed decisions.
Acquiring New Business
- This module explores how accountants play a crucial role in business sales by preparing financial disclosures, analyzing value drivers, and supporting due diligence processes. Learners will gain insights into the challenges and strategies involved in facilitating successful business transactions.
Regulating Securities
- This module explores key U.S. securities regulations, focusing on the Sarbanes-Oxley Act and the Securities Exchange Act of 1934. It explains how these laws shape financial reporting and investor protection. Learners will gain insight into the scope and impact of securities compliance requirements.
Preventing Cash Losses from Embezzlement and Fraud
- This module covers essential strategies for preventing cash losses due to embezzlement and fraud. It focuses on implementing internal controls, such as duty segregation and cost-benefit analysis, to protect business assets while maintaining operational efficiency.
Assessing Audit Risk
- This module explores the fundamentals of audit risk, including how to identify and assess inherent and control risks, understand materiality, and evaluate the effectiveness of internal controls. Learners will gain insights into the key factors that influence audit decisions and develop skills to apply risk assessment procedures effectively.
Discovering Audits
- This module covers the essential elements of audit evidence, including its types, reliability, and sufficiency. Learners will gain an understanding of how to assess internal controls, evaluate audit risks, and apply professional judgment in audit processes. The module equips students with practical skills for conducting effective audits and forming accurate audit opinions.
Auditing Internal Controls
- This module covers the essential aspects of auditing internal controls, including identifying key components, evaluating their effectiveness, and determining appropriate audit strategies. Learners will gain skills in assessing control reliability and making informed decisions about audit procedures.
Scheming Scams
- This module provides an in-depth look at various types of business fraud, including money laundering and employee theft, and equips learners with the ability to recognize and assess fraudulent activities in financial settings.
Cooking the Books
- This module explores techniques for analyzing financial statements, identifying fraud indicators, and detecting hidden liabilities. Learners will gain insights into assessing financial transparency and evaluating risks in public filings and accounting practices.