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MBA Prep Courses

Spring 2017 Class Schedule: January 9–April 28 

Prerequisites are not required to enter into the Meinders MBA program. However, applicants must demonstrate a basic understanding of analytical techniques and have strong communication skills.  Meinders School of Business offers low-cost MBA prep courses to enhance the understanding of key subject areas. 

Business Math and Statistics

Class Tuition: $150 Enroll

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Chapters

Basic Business Math
Forecasting
Regression Analysis
Probability
Decision Analysis
Excel Spreadsheet Tutorial
Appendix A- An Introduction to Sampling
Appendix B- Binomial Distribution Table
Appendix C- Normal Distribution Table

Audience

Anyone needing to acquire the basic mathematical and statistical skills required to perform operations critical to business functions.

Abstract

Statistics and basic mathematics skills play an important role in understanding key functions within and external to the company. Therefore an understanding of these topics is important for managers. The purpose of the product is to give the user a broad overview of the basic math and statistics necessary for business and to introduce the most popular forms of forecasting techniques.

  • Chapter 1 reviews basic business math, including basic algebra, and introduces additional topics such as contribution margin and breakeven.
  • Chapter 2 discusses forecasting and introduces the reader to simple averages, moving averages and weighted averages.
  • Chapter 3 covers regression analysis, beginning with simple regression and advancing to multiple regression.  Topics include coefficient of determination, degrees of freedom, residuals and zero-one variables.
  • Chapter 4 introduces probability concepts ranging from simple probability to probability distributions with a particular emphasis on the Normal Distribution. An appendix on sampling follows Chapter 4.
  • Chapter 5 gives an overview of decision analysis. Decision modeling is emphasized. In particular the construction and interpretation of decision trees is reviewed.
  • Chapter 6 gives an introduction to using Excel to create spreadsheets.
Financial Accounting

Class Tuition: $150 Enroll

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Chapters

The Nature of Accounting
The Basic Financial Statements
The Accounting Cycle
Cash Flow Analysis
Analysis of Financial Statements

Audience

Any non-financial manager in such areas as marketing, sales, manufacturing, or engineering who requires a thorough understanding of the fundamental aspects of financial accounting.

Abstract

A working knowledge of accounting is critical to success in business. Accounting information underlies most strategic and operational decisions made by management. The purpose of this package is to supply managers with a knowledge of the objectives of accounting and to provide the tools necessary to interpret accounting information.

Financial Accounting: A Management Perspective

  • Chapter 1 begins with a discussion of the who, what, why, where, and how of accounting. The standard-setting process and the roles of the various parties in the development of (GAAP).
  • Chapter 2 presents the Basic Financial Statements, introduces the fundamental accounting equation, Assets = Liabilities + Owners' Equity, and uses it to construct, the balance sheet first, then the income statement. The interactive problems in Chapter 2 reinforce the use of T-accounts in developing the financial statements.
  • Chapter 3 students are immersed in the accounting cycle. They learn the significance of journal entries, ledger posting, and ultimately, statement creation. A variety of exercises are presented, requiring comprehension of topics such as the operating cycle (Purchase Inventory--> Incur Payables --> Sell Merchandise --> Collect Receivables), accruals, depreciation, and reconciliation of retained earnings.
  • Chapter 4 tackles Cash Flow, an important topic often ignored in introductory accounting texts. In this chapter, students learn the importance of accurate cash flow analysis and are provided with several tools, particularly the Coleman Cash Flow Model, for determining a firm's sources and uses of cash.
  • Chapter 5 provides an introduction into financial analysis by teaching a number of ratios frequently encountered in the business community.

Financial Accounting: A Management Perspective has been used by corporate training departments, graduate schools of business, consulting firms, trade associations, and individuals. The course requires approximately twelve to fifteen hours to complete, including text reading and computer time.

Managerial Accounting

Class Tuition: $150 Enroll

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Chapters

Introduction to Managerial Accounting
Job Order and Process Costing
Cost-Volume- Profit
Budgeting Variances and Activity Based Costing
Capital Budgeting

Audience

Anyone needing a fundamental understanding of managerial accounting and the role of the managerial accountant.

Abstract

A working knowledge of managerial accounting is critical to success in business. Although some individuals may not be aware of job order costing, variances and activity based costing, they are exposed to budgeting and in some cases, capital budgeting. This course is a good overview of all these topics.

  • Chapter 1 introduces the role of the management accountant, cost behavior such as fixed costs, variable costs, semifixed, etc. Also, the contrast between manufacturing companies and merchandising companies is explored.
  • Chapter 2 deals with job order costing and process costing. Direct materials, direct labor and overhead are introduced along with under and over application of overhead. Process costing is explained with particular emphasis on the equivalent unit.
  • Chapter 3 covers fixed and variable costs, breakeven and contribution margin. The concepts of variable costing and absorption costing are explained.
  • Chapter 4 discusses budgeting-the static budget and a flexible budget. The entire manufacturing budget scenario is described starting with the sales budget, the production budget, the manufacturing overhead budget, the cost of goods sold budget, and finally the budgeted income statement and balance sheet.
  • Chapter 5 covers variances and introduces the topic of activity based costing (ABC). Standards for materials, labor, and overhead are discussed along with the associated variances. A simplistic example of ABC is given and contrasted with a base application of overhead.
  • Chapter 6 introduces the concept of present value followed by the steps in the capital budgeting process.
Fundamentals of Economics

Class Tuition: $150 Enroll

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Chapters

Comparative Advantage and the Benefits of Trade
Demand & Supply
Costs of Production and Profit Maximization
Economic Performance Metrics
Money & Banking
Aggregate Demand & Aggregate Supply

Audience 

Anyone needing to acquire the basic mathematical and statistical skills required to perform operations critical to business functions.

Abstract

The purpose of this package is to provide managers with fundamental economic principles, which they may use to think critically about micro and macro economic events.

  • Chapter 1 introduces the concepts of opportunity cost and comparative advantage. The chapter offers a discussion of how these concepts are used to prove the mutual advantage of individuals, businesses or countries specializing in things with which they have a comparative advantage and trading for the rest. The chapter also introduces the factors of production, production possibilities frontiers, increasing opportunity cost, and absolute advantage.
  • Chapter 2 provides an introduction to the model of demand and supply. Economists use the model of demand and supply to analyze how buyers and sellers interact in the marketplace. It shows how market prices are determined and it demonstrates how many units of a good or service will be bought and sold. Elasticity concepts are discussed in detail. And many applications of the model of demand and supply are offered, including price controls and tax analysis.
  • Chapter 3 introduces short run and long run economic costs of production concepts. The profit maximizing rule is applied to both a perfectly competitive business environment and a monopolistic business environment.
  • Chapter 4 we shift gears from studying the underlying microeconomic foundations of consumers and businesses to studying the elements of macroeconomic behavior. Macroeconomics offers a set of tools and concepts that both economists and policymakers use to try to figure out the overall pulse of the economy. The most important of these tools are introduced in this chapter; they are: real gross domestic product, the national income identity, the consumer price index, the producer price index, the inflation rate, and the unemployment rate.
  • Chapter 5 introduces the functions of money, the types of money, the classifications of the money supply, the central bank, the money creation process, and the monetary policy tools used by a central bank.
  • Chapter 6 This chapter provides an introduction to the model of aggregate demand and aggregate supply.  Economists use the model of aggregate demand and aggregate supply to analyze the economy-wide (or macro) effect of economic events. Inflationary gaps and deflationary gaps are discussed. Using the model of aggregate demand and aggregate supply, fiscal policy and monetary policy are introduced as tools to diminish the effect of an inflationary or a deflationary gap.  Differential analysis is emphasized as well as discounted cash flow techniques such as net present value and the internal rate of return.
Understanding Corporate Finance

Class Tuition: $150 Enroll

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Chapters

Analyzing Financial Statements
Projecting Earnings and Cash Flow
Creating Value for Stockholders
Capital Budgeting
Calculating the Cost of Raising Capital
Assessing Merger and Acquisition Targets
Financing Investments

Audience

Managers and analysts responsible for investment, finance, or credit decisions, as well as those people who need to understand the role of finance within a corporation.

Abstract

A practitioner-oriented text and software package, Understanding Corporate Finance is designed to provide the reader with the basic analytical skills common to all disciplines within the field of finance. 

  • Chapter 1 begins with an extensive discussion of financial statement analysis, initially focusing upon the role of accounting and the information presented in corporate financial statements. In the second half of Chapter 1, financial analysis using ratios, vertical and horizontal percentages, and comparative methodologies is investigated.
  • Chapter 2 discusses those processes vital to corporate and financial planner, and credit analysts- projecting financial statements into the future. The chapter emphasizes both the quantitative and qualitative factors to be considered when making projections.
  • Chapter 3 takes a more theoretical slant by discussing the financial objective of a business entity- the creation of value for its owners. Value can be created through financing decisions, in effect, taking advantage of capital market inefficiencies, and through investments which yield returns in excess of those required by the suppliers of capital. The concepts of present and future value are introduced in this chapter.
  • Chapters 4 and 5 consider the measurement of the returns (capital budgeting) and the cost of the associated capital (Weighted Average Cost of Capital, Capital Asset Pricing Model, and other models).
  • Chapter 6 the contemporary topic of value creation through mergers and acquisitions is introduced. Students will learn of several methods of determining the value of a firm.
  • Chapter 7 students will be cast into the role of financial manager, using FRICTO analysis (Flexibility, Risk, Income, Control, Timing, and other factors) to determine whether to use debit, equity, or a combination of the two to finance investment plans.

The computer coursework embellishes each of the chapters through a series of pretests, problems, and final exercise. The entire course requires a fifteen- or twenty-hour investment of time, including text reading and computer time.

Principles of Management

Class Tuition: $150 Enroll

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Chapters

Management and Its Environment
Planning
Organizing
Leading
Controlling

Audience

New managers, management trainees, engineers or other professionals with supervisory responsibility, and incoming MBA students who need to review the contemporary principles which contribute to success in management.

Abstract

Many years of research have contributed to the development of a generally accepted set of management principles which are associated with higher levels of individual and organizational performance. This product reviews the critical essentials that the practicing manager, professional, or business student needs to master in order to succeed as a manager and/or to demonstrate competency on a formal examination assessing understanding of management principles. It blends research conclusions with practical applications and the theoretical underpinnings needed to understand and manage human issues in the dynamic, 21st century workplace. The self-paced, interactive learning format promotes rapid mastery through active learning exercises with detailed feedback that maintains ongoing student engagement.

  • Chapter 1 describes the general nature of management in terms of management levels, functions, roles, and skills. It evaluates components of the organizational environment, including the global environment and the social and ethical environment.
  • Chapter 2 details the first function of management: planning. It provides an overview of planning, describes categories of plans, and presents an analysis of strategic management. Finally, it reviews the basics of managerial decision making.
  • Chapter 3 reviews several components of the organizing function of management. It describes the nature of organizing and touches on the essentials of organization design, job design, organizational culture, and human resource management.
  • Chapter 4 outlines the leadership function, covering both the practical aspects and the theoretical underpinnings of leadership, motivation, groups and teams, interpersonal communication, and managing change in organizations.
  • Chapter 5 describes the control function. Topics covered include the nature of and approaches to control, types of control, information management, and operations management.

Taken together, these five chapters summarize the critical essentials of a university level principles of management course in a manner designed to promote practitioner success.

Principles of Marketing

Class Tuition: $150 Enroll

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Chapters

Marketing Planning
Understanding Buyer Behavior
Segmentation, Targeting and Positioning
Product and Promotion Strategy
Distribution and Pricing Strategy

Audience

Designed for incoming MBA or MS MKT students or practicing managers who have not completed a Principles of Marketing course within the last few years.

Abstract

This package provides managers or those who aspire to be managers a framework to understand the role of marketing in an organization's planning activities. The focus is on key marketing principles, theories, models and terminology.

  • Chapter 1 provides a framework that summarizes the process of developing and implementing marketing strategy. The chapter defines the concept of marketing and reviews the history of how this concept has evolved into today's marketing practices. The chapter also discusses the interplay between a marketing organization's internal and external environments and illustrates that a thorough understanding of the marketing environment is the first step in the Marketing Planning Process.
  • Chapter 2 provides an explanation of buyer behavior by considering consumers, who purchase products for their own personal use, and business buyers, customers who purchase products for an organization's use. The chapter details factors that influence customers’ buying decisions. It further discusses the marketing research process, the mechanism by which companies gather information about customers and their buying habits.
  • Chapter 3 introduces the important marketing concepts of segmentation, targeting and positioning. It details the process organizations use to segment markets and describes how a company selects and attempts to satisfy its target market(s).
  • Chapter 4 the discussion focuses on product and promotion strategies, two of the four elements in an organization's Marketing Mix. Product strategy decisions revolve around a company's product mix, branding, packaging and labeling. The promotional strategy discussion provides information on how a company can effectively communicate with its target market(s) about products through Integrated Marketing Communications.
  • Chapter 5 introduces the final two pieces of the Marketing Mix: distribution and pricing strategies. Distribution decisions discussed include composition of the distribution channel and the physical and ownership transfers involved in moving the product from producer to customer. Discussion of the pricing component involves both strategic and tactical decisions regarding setting the product's selling price.
Excel for MBAs

Class Tuition: $150 Enroll

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Excel for MBAs responds to the need for Excel functions that would typically be used throughout an MBA program. The module is a series of digitized videos where the instructor reviews each function. The student is given a spreadsheet that is used to follow along and practice each function after viewing it on the screen. After completing each section, the student completes a quiz along with a comprehensive module final exam. The module is divided into 4 sections: Basics, Manipulating Data, Analyzing Data and Statistics.