Go to Course: https://www.coursera.org/learn/accounting-fundamentals-project
# Course Review: Fundamentals of Accounting Capstone on Coursera If you're looking to deepen your understanding of accounting while applying that knowledge in a practical context, the **Fundamentals of Accounting Capstone** course on Coursera is an excellent choice. This course serves as a culmination of the knowledge and skills you've gained in the Fundamentals of Accounting Specialization, allowing you to engage in a comprehensive, hands-on project. ## Course Overview The **Fundamentals of Accounting Capstone** is designed specifically for learners who have completed all prerequisite courses in the specialization. In this capstone project, you will navigate the intricacies of managing a small business, making it a vibrant and relevant experience. Throughout the course, you’ll be tasked with applying theoretical concepts to real-world scenarios, reflecting the type of decisions and analyses you might encounter in any business environment. ## Syllabus Breakdown The capstone project is structured into six key milestones, each building upon the previous one as you construct the financial framework for your chosen business. ### **1. Capstone Introduction** You kick off the course with an introduction that sets the stage for the capstone project and familiarizes you with your instructor. This initial phase is crucial for understanding the expectations and objectives of the course. ### **2. Milestone 1: Business Description** In this milestone, you choose your business type. This foundational step is crucial as it dictates the direction of your project. Whether it's a retail shop, a service provider, or a non-profit organization, selecting your business aids in contextualizing all subsequent accounting tasks. ### **3. Milestone 2: Expenses and Selling Price** Here, you will dive into the costs associated with your business. You'll determine how much to charge for your products or services, or, in the case of a non-profit, how much funding you need to raise. This milestone teaches you to analyze expenses critically, a skill that is vital for any entrepreneur. ### **4. Milestone 3: Assets** Identifying the necessary assets to run your business and devising a funding strategy for these assets is the focus of this milestone. This involves thinking beyond just numbers and understanding the resources essential for operational success. ### **5. Milestone 4: Budgeted Income Statement and Analyses** After identifying your expenses and assets, you will evaluate your progress by preparing a budgeted income statement. This milestone is a pivotal learning point that encourages you to examine your financial projections critically. ### **6. Milestone 5: Internal Decision Making** Using the information gathered, you will learn how to make informed decisions that affect the direction of your business. This analysis helps illustrate the practical applications of accounting concepts in real-world situations. ### **7. Milestone 6: Pro-forma Financial Statements and External Decision Making** Finally, you will present pro-forma financial statements that predict the future financial outlook of your business. This last step emphasizes strategic decision-making based on your comprehensive financial analysis accumulated throughout the capstone. ## Conclusion: Recommendation The **Fundamentals of Accounting Capstone** is not just a course; it’s an integrated learning experience that challenges you to think like an accountant and a business owner at the same time. The structured milestones allow for a systematic approach to applying accounting principles, ensuring that you develop both foundational knowledge and practical skills. I highly recommend this course if you have already completed the necessary prerequisites as it encapsulates the essence of what it means to apply accounting in a real-world context. It's suitable for anyone looking to start their own business, those in management roles, or individuals wanting to enhance their understanding of financial decision-making within a business environment. With engaging content and practical applications, this capstone project is a worthwhile investment in your professional development. Take the plunge and get ready to elevate your accounting expertise to new heights!
Fundamentals of Accounting Capstone Introduction
You will get an introduction to the Capstone project and your instructor.
Milestone 1: Business DescriptionChoose your business!
Milestone 2: Expenses and Selling PriceWhat are the costs associated with your business and how much will you charge for your product or service? In the case of a not-for-profit organization, how much money will the business need to collect from donations or other funding sources?
Milestone 3: AssetsWhat assets do you need to run your business and how will you pay for these assets?
Milestone 4: Budgeted Income Statement and AnalysesEvaluate your progress in developing your business.
Milestone 5: Internal Decision MakingHow will you use the information that you have gathered and analyzed thus far to make decisions?
Milestone 6: Pro-forma Financial Statements and External Decision MakingWhat does the financial future of your business look like?
**You should complete all other courses in the Fundamentals of Accounting Specialization before beginning this course.** The capstone project will be set in the context of a realistic small-business enterprise, and will require you to think deeply and apply the accounting concepts presented in the other courses in the Fundamentals of Accounting. While navigating the daily operations of the business, you will have an opportunity to consider the accounting implications of the economic events enco
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