This course focuses on the recognition, measurement and subsequent accounting for various types of liabilities. The content includes:
Accounting Analysis II: Measurement and Disclosure of Liabilities
Accounting Analysis II: Measurement and Disclosure of Liabilities
This course is part of Financial Reporting Specialization
Instructor: Scott Mendoza
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4.7
(120 reviews)
Intermediate level
Recommended experience
Flexible schedule
Approx. 33 hours
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What you'll learn
Describe the accounting process related to accounting for liabilities (from origination of transactions to disclosure in the financial statements)
Describe liabilities and contingencies and demonstrate the appropriate accounting treatment, including required disclosures
Demonstrate the accounting for bonds (including par, discount, and premium bonds)
Explain and demonstrate the accounting for pension plans
Skills you'll gain
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Assessments
67 assignments
Taught in English
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This course is part of the Financial Reporting Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 9 modules in this course
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
What's included
4 videos4 readings1 assignment1 discussion prompt1 plugin
In this module, you will be introduced to the concepts of current liabilities and contingencies. You will learn how to classify liabilities as current or long-term, including consideration of refinancing arrangements. The module also describes the criteria for recognizing and/or disclosing contingencies.
What's included
9 videos2 readings10 assignments
In this module, you will be introduced to the concept of long-term debt. You will learn about the different types of bonds and how each type results in different accounting, including bonds sold at a premium or discount. The module also explains the recognition of interest and bond extinguishment.
What's included
9 videos2 readings10 assignments
In this module, long-term debt will be discussed in more detail. Students will learn how to account for other aspects of bond accounting, including bond issue costs, fair value accounting, convertible debt, troubled debt restructuring, issuances between interest dates, and differences between U.S. GAAP and IFRS.
What's included
11 videos2 readings12 assignments
In this module, you will be introduced to the most recent lease accounting standards issued by the Financial Accounting Standards Board (FASB). Starting with the definition of a lease, this module will discuss features of the model related to both lessors and lessees. It will also illustrate the classification of leases, initial recognition, and subsequent measurement.
What's included
7 videos2 readings8 assignments
In this module, we continue the discussion of the lease accounting model. You will learn how to account for leased asset purchase options, leased asset residual values, sale leaseback accounting, and the differences between U.S. GAAP and IFRS when accounting for leases.
What's included
9 videos2 readings10 assignments
In this module, you will be introduced to accounting for pension benefits. We will explore the basic features of accounting for defined benefit plans, including benefit obligations, plan assets, and the components of net periodic benefit cost.
What's included
7 videos2 readings8 assignments
In this module, you will continue your study of accounting for employee retirement benefits. We will learn how to account for plan amendments and the recognition of pension gains and losses. We will also discuss a comprehensive recognition of pension activities. The module will conclude with a discussion of the major differences between U.S. GAAP and IFRS with respect to pension accounting.
What's included
8 videos2 readings8 assignments
This module is for you to tell us what you think of the course.
What's included
4 readings1 peer review1 discussion prompt1 plugin
Instructor
Instructor ratings
4.6 (35 ratings)Offered by
Recommended if you're interested in Business Essentials
University of Illinois Urbana-Champaign
University of Illinois Urbana-Champaign
IE Business School
University of Illinois Urbana-Champaign
Build toward a degree
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
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IM
5
Reviewed on Oct 10, 2020
The course was perfect as a whole. Easily understandable lectures. The course contents were extremely good. It helped a lot to improve my understanding on certain topics. Thank you so much.
BE
5
Reviewed on Jan 19, 2021
Adel Ibrahim is an excellent lecturer. This course is clear and presents technical information in full context, with excellent examples and supporting documentation.
VV
5
Reviewed on Aug 9, 2020
This course is too hard for me. I will review it after I learn a book.
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