Accounting and Finance for Entrepreneurs 5 credits

One typical feature of new ventures is a high degree of uncertainty about future outcomes of financial and business decisions. The main purpose of the course is to provide students with an understanding of the interrelationships between financing decisions and other aspects of new venture strategy under uncertainty. The course provides students with skills which are required for making prudent financial decisions in new ventures. Specifically, course participants will learn to: 1. Assess financial needs required to develop and grow a business 2. Make financial projections and value new businesses 3. Judge sources of equity and debt financing in terms of their ownership implication 4. Understand the basics of financial contract design. Moreover, the course also covers the role of venture capital and bank financing, as well as harvesting of venture investment. **Connection to research and practice** Students will develop both a contextual understanding and practical know-how of foundational accounting and financial practices and strategies necessary for the establishment, development, and survival of a new venture. Students will work through MS Excel-based exercises, developing their skill and expertise in the software package. In addition, students will be taught core entrepreneurial accounting and entrepreneurial finance concepts and models from the academic literature.