Lynda Accounting

Learn about bookkeeping, financial, managerial, and tax accounting and how they work together to help businesses make decisions. Jim and Kay Stice review the accounting equation, the three basic types of financial statements, how to use accounting to drive decision making, and how taxes figure into business decisions.

In this course, accounting professors Jim and Kay Stice cover all the fundamentals, including costs and cost behaviors, cost-volume-profit (CVP) relationships, cost flows, standard costing and activity-based costing, and budgeting.

Revenue recognition determines when a sale should be recorded: This month or next month? This year or next year? This seems like an easy question until you consider situations in which a company sells a package of goods and services for one joint price, aka multi-element transactions. But without recognizing revenue, a company can't hope to report any profit. Accordingly, company management is typically under great pressure to recognize revenue as soon as possible. Want to understand these concepts better? Join professors Jim and Kay Stice as they introduce the theory, practice, and implications of revenue recognition.

Accounting and finance professors Jim and Kay Stice will make filing this year's taxes a bit easier for you by explaining basic taxation concepts and terminology. In this course, they cover topics such as taxable income, tax brackets, average tax rates, withholdings, deductions, and credits, and explain the motivation behind federal tax deductions for mortgages, dependents, and charitable giving.

Most musicians count themselves lucky to make money at a career they love. But income means taxes, and taxes can lead to many questions. What exactly counts as income? What can you write off? What happens if you get audited?In this music business course, author Rich Stim covers the most important tax issues for musicians.