Financial Accounting Made Fun: Eliminating Your Fears | BabsonX on edX | Course About Video


DOCTOR PETER WILSON: Have you ever
been in a meeting or in a discussion with colleagues when someone
starts talking finance and you find yourself
quickly losing interest, because you can’t really
follow the conversation? Let’s face it. The accountants and finance
folks have their own language, which could easily qualify as a
foreign language to most of us. Not only do they have
their own words for things, they seem to have multiple
words for the same thing. Sometimes they talk about revenues. Sometimes they’re called
sales, or even net sales. And in some places, they
refer to it as turnover. One minute they’re
talking about revenues, then profits, then EBIT
or EBITDA, then cash flow. It’s almost like they’re trying
to confuse the rest of us, rather than tell us what’s really
going on in their business. Or maybe you’re starting
your own business. Congratulations. You have a great idea
for a product or service. You know there’s significant
market potential. But when you present your
idea to potential investors all they want to know is how
much revenue will you generate and what the profits or
cash flows are going to be. There are those terms again. You can’t escape them. They’re everywhere. Well, if you would like to get a
better understanding of the language of business and finance, learn how
to read the financial statements so you can evaluate a company’s
profitability or solvency, or simply learn how to forecast an
income statement or balance sheet, then this is the right course for you. My name is Peter Wilson. I’m on the faculty at Babson
College in Wellesley, Massachusetts. And I’ve been making
accounting and finance fun for my students for 20 years. I hope you’ll join me for this adventure
into the world of financial accounting, where we will take the
mystery out of the numbers, eliminate your fear of
the financial statements, and have some fun along the way.

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