Course details
Manage your small business successfully with these finance essentials from accounting professors Jim and Kay Stice. They explain the five reasons so many small businesses fail and outline strategies—such as tracking your accounting, managing your operating cycle, and forecasting cash flow—that will help you manage your small business better. They also provide valuable perspective on pricing strategies and the dangers of fast growth.
Instructors
Jim SticeLinkedIn Learning Instructor at LinkedInJim Stice is a professor of accounting at BYU.
James D. Stice, PhD, is the Distinguished Teaching Professor of Accounting in the School of Accountancy at Brigham Young University (BYU). He teaches business and accounting to university students and to business professionals around the world. Professor Stice has been at BYU since 1988. He has co-authored three accounting textbooks and published numerous professional and academic articles. In addition, Professor Stice has been involved in executive education for Ernst & Young, Bank of America Corporation, International Business Machines Corporation, RSM, and AngloGold Limited and has taught at INSEAD (in both France and Singapore) and CEIBS (in China). He has been recognized for teaching excellence by his department, his college, and the university. Professor Stice currently serves on the audit committee of Deseret Management Corporation and served on the board of directors of a publicly traded company until it was taken private.
Professor Jim Stice received a PhD from the University of Washington as well as master’s and bachelor’s degrees from BYU, all in accounting.
Five characteristics of businesses that fail
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– Hi, I’m Jim Stice. I’m a professor of accounting at Brigham Young University. This is my brother Kay. – I’m also a professor of accounting at Brigham Young University. – As accounting professors we teach financial analysis, cash flow projections, product costing and cash management. – All of these topics are important to the management of a small business. In fact, all of them highlight ways in which small business owners put their businesses at risk. – In this course we will explore five characteristics of small businesses that make them more likely to fail. – Those five characteristics are insufficient capital, poor cash management, poor record keeping and controls, improper product pricing, and uncontrolled growth. We have designed this Financial Essentials for Small Business course to be self-contained and we carefully explain any terminology that we use. – In short, this is an introductory course with no prior…