Accounting and IP Valuation for Non-Accountants
Finance and accounting are the language of business, yet this language is not well understood by people in non-profit or scientific research institutions who work with for-profit companies. This course will give an overview of how companies keep score, and how outsiders can understand the financial health of internal activities. The course will make extensive use of financial statements (Annual and Quarterly Reports) from well-known companies and use these reports to introduce principles of financial accounting. These principles will be tied to an understanding of: (1) how an individual can assess the financial stability and capabilities of a partner; (2) how financial issues can impact potential collaborations and deals with companies; (3) how financial issues directly impact agreements in which students may participate. The class will also look at the operation of financial markets, and how the reported financial issues of a company interact with the broader financial markets. Students will make extensive use of publicly available financial information that may be found online. The class will have periodic assignments that will provide an opportunity for students to present their analyses in class.
Experience with or interest in collaborations or agreements with for-profit organizations.
- Develop basic understanding of accounting principles and financial statements as they apply to biotech and other life-science companies
- Utilize transactions as the basis for building balance sheets, income statement, and other financial statements
- Analyze the performance of public biotech and life science companies using standard financial tools