Follow an estimation process to break down seemingly impossible estimates into bite-sized chunks.
- You live in Provo, Utah, correct?…- Correct.…- How far is that from Salt Lake City?…- It's about 35 miles south.…- Okay, I have a question for you about Salt Lake City.…- I'm ready.…- [Man] How many windshield wiper blades are sold…in Salt Lake City each year?…- What?…- How many windshield wiper blades are sold…in Salt Lake City each year?…- Well that's a bizarre question, I have no idea.…- [Man] Sure, you do.…Let me lead you through an estimation process…with some questions that break down…the seemingly impossible estimate into bite-sized chunks.…- Okay, lead away.…
- How many people live in Salt Lake City?…- [Man] Well I don't know exactly…where the official Salt Lake City boundaries end.…Let's broaden it to the Salt Lake City metropolitan area.…- Alright.…- [Man] In that area, I'd say…there are about a million people.…- [Man] Good, now, we're rolling.…Next question, how many cars per person are there…in Salt Lake City?…- [Man] Cars per person I'd say about half a car per person.…In other words, on average two people share one car.…
In this course, join accounting professors Jim and Kay Stice as they help you discover how to leverage the power of numbers to approach businesses problems and make everyday decisions. They explore the power of ratios and percentages, how to monitor and evaluate your budget, how to forecast the timing and amount of a business loan, and much more.
- The power of ratios and percentages
- Growth rates, rule of 72, and extrapolation
- Financial ratios to determine unpaid inventory
- How to convert to percentages
- Variance and the concept of risk
- Numerical planning and everyday decisions
- Creating, monitoring, and evaluating your budget
- Forecasting the timing and amount of a business loan
- The power of compound interest
- Loan payments and interest rates
Skill Level Beginner
Running a Profitable Business: Understanding Financial Ratioswith Jim Stice2h 13m Appropriate for all
Accounting Foundations: Bookkeepingwith Jim Stice1h 27m Beginner
1. The Power of Ratios and Percentages
2. Applied Probability and Statistics
3. Numerical Planning and Measurement
4. Interest: Paying and Earning
5. The Art of Numerical Estimation
- Mark as unwatched
- Mark all as unwatched
Are you sure you want to mark all the videos in this course as unwatched?
This will not affect your course history, your reports, or your certificates of completion for this course.Cancel
Take notes with your new membership!
Type in the entry box, then click Enter to save your note.
1:30Press on any video thumbnail to jump immediately to the timecode shown.
Notes are saved with you account but can also be exported as plain text, MS Word, PDF, Google Doc, or Evernote.