Reporting Use of Firm Resources and Taxation

About

We'll begin this course with a look at inventory and learn how to link inventory valuation to gross profit. We'll also explore the four principal inventory valuation methods and assess the pros and cons of each inventory valuation method. Next, we'll learn how to measure the cost of long-lived assets and distinguish between expenses and capitalized items. We'll learn how to compute depreciation under various depreciation methods and explain the effect of depreciation on cash flow. We'll also learn how to compute gains and losses on disposal of fixed assets as well as account for the impairment of tangible assets.

Next, we'll look at the concept of deferred taxes and learn how to distinguish between a deferred tax asset and liability. This course also teaches you on how to compute the value of a deferred tax liability and explains when and why a deferred tax liability would be considered an equity item.

This course is part 3 of the New York Institute of Finance's Financial Accounting Professional Certificate.

What you will learn

• Inventory
• Long-Lived Assets and Depreciation
• Taxes and Depreciation
• Deferred Taxes

Skills you learn

• Gross Profit
• Fixed Asset
• Deferred Tax
• Depreciation
• Finance
• Asset Liability Management
• Financial Accounting
• Inventory Valuation

Syllabus

• Mod 01: Inventory
• Mod 02: Long-Lived Assets and Depreciation
• Mod 03: Taxes and Depreciation
• Mod 04: Deferred Taxes

Auto Summary

This foundational course on edX, "Reporting Use of Firm Resources and Taxation," focuses on understanding the reporting uses of a firm's resources and taxation. Ideal for business and management enthusiasts, it spans 5 weeks and offers both Professional and Starter subscription options.