Version 1 and 2: Instruction is offered online through video lectures, study guides, required and supplemental readings, quizzes, homework, and final exams. Major topics include: definition of accounting and finance, annual report components, GAAP requirements, components of a balance sheet, reading a balance sheet for clues on financial stability, risk, and liquidity, assets, liabilities, shareholders’ equity, capital expenditures, the basic accounting equation, components of an income statement, income statement under general accounting principles, revenue, gross profit, operating expenses, questions to ask for income statement review, components of statements of cash flows, revenues versus profits versus cash flows, analyzing cash flow statements, common size analysis, trend analysis, ratio analysis, liquidity ratios versus market ratios, components of cost-volume-profit analysis, basic breakeven mode versus more advanced variations, fixed costs versus mixed cost, unit contribution margin, price inelasticity, time value of money, risk and present/future value, compounding, discounting and discount rate, five types of cash flows, lump sums versus annuities versus perpetuities, the tradeoffs between risk and return, the definition of beta and alpha, the capital asset pricing model, security market line, approaches for evaluating investment opportunities, the payback method vs. the book rate of return method versus net present value, evaluating investment opportunities beyond net present value, the shortcomings of net present value, internal rate of return, profitability index, equity multiple, the cost of debt versus the cost of equity, the weighted average cost of capital, convertible bonds, valuation of company stocks, fundamental analysis, market capitalization, enterprise value, EBITDA, price-earnings ratio, and price-to-EBITDA ratio.