BTEC 622 - Principles of Accounting and Finance

(3 semester hours)
Prerequisites: None
Description: This course is offered to expose the student to a basic introduction to principles of accounting and finance for the life science industry. Accounting and finance take different shades when one compares revenues for giants like Target with that for a pharma company. The student studies life science companies and their accounting procedures. Impact of significant adjustments and estimates on revenue counting, health insurance, managed care, and governmental contracts is covered. Also covered are accounting practices related to multi‐round private financing and IPO timing for start-ups. The student is taught the basics of money management, the language and vocabulary of finance, how to communicate scientific concepts to potential investors, and how to generate fiscal plans/milestones. Course activities enable the student to create and analyze financial documents such as a term sheet, a contract and a balance sheet. The student is also presented the concepts of financial risk and the time value of money. This course will use real company scenarios and case studies from life sciences companies.