Business
Smarthinking builds business skills, from accounting to finance and more.
Using our proprietary virtual whiteboard for live, real-time collaboration, tutors guide students through solving problems. Smarthinking’s tutors do not give students answers or complete student work. Instead, tutors use a problem-solving based teaching style to help students learn underlying concepts. In this way, students learn to handle future assignments on their own.
- Business: Topics Covered
Introductory Accounting: Broad or basic overview of the following topics: accounting cycle, journal entries and T-accounts, creation of financial statements, merchandise inventory valuation, depreciation, long-term liabilities, capital stock transactions, financial ratios, job and process costing, cost-volume-profit (CVP) analysis, budgeting, variance analysis.
Economics: Topics covered in Principles Microeconomics and Principles Macroeconomics classes including topics such as Basic Price Theory, the Theory of the Firm, Public Economics, Analysis of the Market Structure, Resource Allocation and Welfare Analysis, National Income Analysis, Monetary System and the Federal Reserve, Business Cycles and Growth and International Trade. Smarthinking-Certified Tutors are also qualified to provide support to students taking Intermediate Microeconomics and Macroeconomics, Money and Banking, International Trade and Finance, Mathematical Economics and Industrial Organization on a pre-arranged basis.
Introductory Finance: Role and objective of financial management; review of the four basic financial statements; analysis of financial statements and financial performance; the financial environment: markets, institutions, interest rates, and taxes; risk and rates of return; time value of money; bonds and their valuation; stocks and their valuation; cost of capital; capital budgeting, including cash flow estimation, decision criteria, and risk analysis; capital structure and leverage; distributions to shareholders: dividends and share repurchases/treasury stock; managing current assets/working capital; financing current assets/managing current liabilities; financial planning, budgeting, and forecasting.
Statistics: Descriptive Statistics, Data Analysis (Graphic Representations, Measures of Central Tendency, Dispersion, Position, Regression and Correlation); Probability (Combinatorics, Random Variables, Probability Distributions for Discrete and Continuous Random Variables; Inferential Statistics (Sampling and Sampling Distributions, Central Limit Theorem, Confidence Intervals, Hypothesis Testing, Inference Concerning Correlation and Regression); Analysis of Variance (Categorical Data Analysis; Chi-square; Contingency Tables; Homogeneity tests; Decision Theory); Process and Quality Control (Control Charts)
Intermediate Accounting: Financial statement elements in-depth, income measurement, profitability analysis, time value of money concepts, investments, contingencies, leases, accounting for income taxes, pensions, accounting errors and changes, and share-based compensation.
Advanced Accounting: Mergers and acquisitions, stock investments, consolidated financial statements, intercompany transactions, foreign currency financials, segment and interim financial reporting.
Individual Income Tax: Gross income inclusions and exclusions, MACRS depreciation, employee business expenses, itemized deductions, investor losses, tax credits, capital gains/losses, Alternative Minimum Tax, accounting periods and methods.
Cost Accounting: In-depth management accounting focus, allocating costs, variance and CVP analysis, forecasting and budgeting, job and process costing.
Payroll Accounting: Wage computation, preparation of payroll tax forms and corresponding journal entries.
- Available Upon Request via Prescheduled Session:
Corporate Tax: Basic introduction to S corporations and partnerships, tax effects of distributions, elections and liquidations.
Governmental/Not-for-Profit Accounting: GASB vs. FASB, fund accounting, revenue accounting, budget procedure, inter-funds, financial statement preparation, fund and government financial statements.
Auditing: GAAS, Sarbanes-Oxley Act, industry standards, ethics, procedures and responsibilities, risk, sampling, reports.