Course Name (short): Accounting & Finance Essential
School: Continuing Ed & Corp Training
Program(s): Undeclared
Program Coordinator(s): Tba
Course Leader or Contact: Multiple Course Leaders
Originator: Gwendolyn D'Silva
Designate: Gwendolyn D'Silva
Version: 1.0
Status: Approved - Under Rev (AREV)

Calendar Description
This elective focuses on the finance and accounting essentials that are a vital part of any business success. The course equips non-financial managers with a clear understanding of the role finance and accounting play in business development during initiation, sustainment and growth. Participants will explore: basic bookkeeping, financial statements, accounting software, management accounting, business valuation and financing using both case studies and their real-life company financials. At the conclusion of this course, participants will prepare a sound financial plan, three year forecast and will identify and implement accounting solutions that support their business model.

Typical Instructional Format

Courses may be offered in other formats.

Section I Notes: N/A

Detailed Description
This elective focuses on the finance and accounting essentials that are a vital part of any business success. The course equips non-financial managers with a clear understanding of the role finance and accounting play in business development during initiation, sustainment and growth. Participants will explore: basic bookkeeping, financial statements, accounting software, management accounting, business valuation and financing using both case studies and their real-life company financials. At the conclusion of this course, participants will prepare a sound financial plan, three year forecast and will identify and implement accounting solutions that support their business model.

Program Context

 Critical Performance
By the end of this course, students will have demonstrated the ability
to prepare a sound financial plan, three year forecast and will
identify and implement accounting solutions that support their
business model. Participants will also gain a common framework and
language for communicating with stakeholders in regards to finances
and their business.


To achieve the critical performance, students will have demonstrated
the ability to: 

1. Explain and discuss the crucial roles finance and accounting play
   in your business
2. Create and use financial statements to manage your business
3. Review and select accounting options that support your business
   during the launch, stabilizing and growth phases of development

4. Calculate and apply financial ratio analysis to understand the
   risk, profitability and prospects of your business
5. Review and apply management accounting methods and principles to
   ensure successful implementation of your business strategy

6. Review and apply business valuation models to accurately identify
   the true financial "worth" of your company
7. Research sources of financing; articulate the pros and cons of
   bootstrapping, government grants, 'family, friends and fools'
8. Evaluate your personal capacity to finance your business

9. Communicate clearly and effectively in the language of financial
   accounting.


As this is a non-credit course, there will be no official exams or
graded assignments. Students will assess their learning via self, peer
and instructor feedback on weekly assignments.

N/A

Module 1:  Role of Finance and Accounting in Your Business (2 weeks)	

Lesson #1 - Introduction and Basics of Financial Accounting (blended:
online and in class)
Topics/Main Idea:  
- Participant Introductions: including business or idea pitch
- Rules of Engagement (confidentiality/collaboration etc.)
- Course Outcomes and participant goals/expectations
- Strategic Map: 
     o Life Cycle of a Business  - applicable financial strategies at
each phase
     o Importance of a financial road map
- Define and Differentiate The Three Disciplines:
     o Financial Accounting 
     o Management Accounting
     o Finance
- Basics of Financial Accounting:
     o Basic definitions: assets = liabilities + shareholder's equity
     o Case Study Practice: Performing bookkeeping entries in template
(excel)
- Takeaway Business Application Assignment:
     o Use bookkeeping template to perform basic entries with own
financials
Learning Outcome(s):  # 1, 2,  9
Learning Activities: self-assessment (non-graded), video,
Articles/pre-readings, case study, group discussion, individual
business application activity, reflection.

Lesson #2: Financial Statements (blended: online and in class)
Topics/Main Idea:  
- Financial Statements:
     o Income statement 
     o Balance Sheet
     o Statement of Cash flows
     o Statement of Owner's Equity
- Case Study Practice: Create the four financial statements (Excel or
paper template)
- Takeaway Assignment: 
     o Create the four financial statements using own business
financials using Excel 
     o Online Discussion: post findings, questions and receive
mentoring online
Learning Outcome(s):  # 1, 2,  9
Learning Activities: self-assessment (non-graded), video,
articles/pre-readings, case study, individual business application
activity, reflection, group discussion.

Module 2:  Accounting Options That Support Your Business (2 weeks)

Lesson #3 - Selecting Accounting Options (online)
Topics/Main Idea: 
- Advantages and disadvantages of accounting/bookkeeping options 
(Individual/Group research):
     o Do It Yourself (DIY) (paper, Excel, software)
     o Hire a Bookkeeper
     o Accountant
     o Other
- Online Discussion: Factors to consider (size, cash, competency etc.)
How needs change as a business grows. 
- Takeaway assignment: 
     o Identify which option makes sense for your own business. 
     o Download Sage Simply Accounting software free trial in
preparation for week 4
Learning Outcome(s):  # 2, 3, 9    
Learning Activities: individual/group research, poll, readings, and
group discussion, individual business application activity, reflection


Lesson #4 - Using Sage Simply Accounting for Accounting and Financial
Statements (In Class)
Topics/Main Idea: 
- Sage Simply Accounting Software
- The Chart of Accounts 
- Producing financial statements using Sage Simply Accounting: Income
statement, Balance Sheet, Statement of Cash Flows, Statement of
Owner's Equity
- Takeaway Assignment: 
     o Using Sage for Your Own Business Financials:
     o Entering basic bookkeeping entries 
     o Enter a chart of accounts.
     o Producing financial statements:
Learning Outcome(s):  # 2,3,9
Learning Activities: Case Study/active practice, group discussion,
peer and instructor guidance,
Individual business application activity, reflection


Module 3:  Financial Ratio Analysis (1 week)  

Lesson#5: Financial Ratio Analysis (Blended: Online and In Class)
Topics/Main Idea:
- Financial Ratios and How to Calculate Them:
     o Liquidity
       o Current Ratio
       o Quick Ratio
       o Current Cash to Debt Coverage Ratio
     o Profitability
       o Profit Margin on Sales
       o Return on Assets
       o Return on Investment (ROI)
       o Dupont Method
- Understanding the basics of profit generation:
     o Using assets to generate revenues
     o Increasing income per dollar of revenue
- Takeaway Assignment: 
     o Calculate ratios for your own company financials. 
     o Compare ratios of different companies with your own (using
Google Finance, Edgar.com or Sedar.com. Post findings online.
Learning Outcome(s): # 4, 9
Learning Activities: online lecture/demo, active practice with case
study, compare and contrast analysis, group discussion, individual
business application activity, reflection


Module 4 Management Accounting Methods and Principles (1 week)  

Lesson#6 - Management Accounting (Blended: Online and In Class)
Topics/Main Idea: 
- Converting the Income Statement to a Contribution Margin format
(Variable Income Statement)
- Cost-Volume-Profit Relationships
- Degree of operating leverage 
- Calculating break even point
- Proforma income statement projections (multi-year)
- Relevant costs as a means to accepting an order
- Case Study: Creating multi-year projection, calculating break-even
point, Calculating sales volume required to meet operating income
expectations, Evaluating risk by calculating the Margin of Safety.
- Takeaway Assignment: 
     o Create a multi year income statement projection for your
business (proforma).
Learning Outcome(s): # 5, 9
Learning Activities: online lecture/demo, case study, active practice,
group discussion, individual business application activity, reflection


Module 5: Business Valuation: The True Financial "Worth" of Your
Company (1 week)

Lesson#7 - Business Valuation Models (Blended: Online and In Class)
Topics/Main Idea:  
- Formulas for assessing the value of money and the financial "worth"
of a company: 
     o Simple and Compound Interest
     o Time Value of Money
     o Finance Annuities
     o Finance Period Rate
     o Net Present Value of Cash flow
     o Finance Valuation - Dividend Discount Model
     o Finance Valuation - Market Risk
     o CAPM Model (Capital Asset Pricing)
     o Excel Functions
     o Beta - Google Finance
- Takeaway Business Application:
     o Calculate your own company's value using CAPM Model and
Dividend Discount Model
Learning Outcome(s):  # 6,9
Learning Activities: In class lecture and group discussion, case
study, online group discussion, individual business application
assignment, reflection


Module 6: Financing Your Business Venture (2 weeks)

Lesson#8 - Sources of Financing (Online)
Topics/Main Idea:  
- Research Project - Sources of financing:
     o Self Financing/ Bootstrapping
     o Friends and Family
     o Angel Investors
     o Venture Capitalists
     o Banks - Debt Financing
     o Government Grants
- Identifying advantages and disadvantages of each financing option
- How to identify what makes sense given your own business, given
factors such as:
     o Company size, 
     o Personal situation, 
     o Cash available,
     o Appetite for risk, etc.
Learning Outcome(s): # 7,9
Learning Activities: individual/group research, group discussion,
individual business application activity, reflection 

Lesson#9 - Financing Your Business Venture (Blended: Online and In Class)
Topics/Main Idea:  
- Self-Assessment: What is your risk appetite? 
- Evaluating your personal capacity to finance. Key considerations to
make:
     o What is required financially? (using savings, mortgage, credit
lines, friends)
     o Risks and liabilities
     o Tax implications
     o Emotional factors (ability to deal with stress & risk)
- How to calculate a business owner's capacity to finance their business
     o Personal safety margin
     o Burn rate of loan or mortgage
- Takeaway Business Application:
     o Calculate your own personal capacity to finance your business