About this Course
4.8
6 ratings
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Hours to complete

Approx. 35 hours to complete

Suggested: 8 weeks of study, 6-8 hours a week...
Available languages

English

Subtitles: English...
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Hours to complete

Approx. 35 hours to complete

Suggested: 8 weeks of study, 6-8 hours a week...
Available languages

English

Subtitles: English...

Syllabus - What you will learn from this course

Week
1
Hours to complete
1 hour to complete

About the 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....
Reading
2 videos (Total 10 min), 4 readings, 1 quiz
Video2 videos
About Prof Hepp2m
Reading4 readings
Syllabus10m
About the Discussion Forums10m
Update Your Profile10m
Build a Learning Community with Social Media10m
Quiz1 practice exercise
Orientation Quiz8m
Hours to complete
3 hours to complete

Module 1: Current Liabilities and Contingencies

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 provisions of loan agreements with call options. You will also identify the criteria for recognizing or and/or disclosing contingencies...
Reading
7 videos (Total 72 min), 1 reading, 6 quizzes
Video7 videos
Current Liabilities12m
Exceptional Situations12m
Examples and Presentation7m
Excel Segment7m
Contingencies16m
Examples: Contingencies8m
Reading1 reading
Module 1 Overview and Resources10m
Quiz6 practice exercises
Lesson 1.1 Knowledge Check4m
Lesson 1.2 Knowledge Check4m
Lesson 1.3 Knowledge Check6m
Lesson 1.4 Knowledge Check4m
Lesson 1.5-1.6 Knowledge Check4m
Module 1 Quiz30m
Week
2
Hours to complete
3 hours to complete

Module 2: Long-Term Debt Part 1

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, sold at a discount, and sold with issuance costs attached. The module also describes the fair value option that is offered for accounting for a bond....
Reading
6 videos (Total 83 min), 1 reading, 6 quizzes
Video6 videos
Bonds: The Simple Case16m
Bonds: Between Interest Dates6m
Bonds: Discount and Premium18m
Bonds: Discount and Issuance Costs16m
Fair Value Option - A Counter Intuitive Result11m
Reading1 reading
Module 2 Overview and Resources10m
Quiz6 practice exercises
Lesson 2.1 Knowledge Check2m
Lesson 2.2 Knowledge Check6m
Lesson 2.3 Knowledge Check4m
Lesson 2.4-2.5 Knowledge Check14m
Lesson 2.6 Knowledge Check6m
Module 2 Quiz30m
Week
3
Hours to complete
2 hours to complete

Module 3: Long-Term Debt Part 2

In this module, long-term debt will be discussed more in-depth. Students will learn how to account for bonds sold at a discount or premium, between interest dates, or with conversion features. Early extinguishment of debt, modifications and troubled debt restructuring are also discussed....
Reading
5 videos (Total 51 min), 1 reading, 6 quizzes
Video5 videos
Convertible Debt14m
Early Extinguishment of Debt7m
Bonds Modifications7m
Troubled Debt Restructuring13m
Reading1 reading
Module 3 Overview and Resources10m
Quiz6 practice exercises
Lesson 3.1 Knowledge Check2m
Lesson 3.2 Knowledge Check4m
Lesson 3.3 Knowledge Check4m
Lesson 3.4 Knowledge Check4m
Lesson 3.5 Knowledge Check6m
Module 3 Quiz30m
Week
4
Hours to complete
2 hours to complete

Module 4: Lease Accounting Part 1

In this module, you will be introduced to the recently issued lease accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board). Starting with the definition of a lease, this module will discuss features of the new model common to both lessors and lessees and then illustrate the classification of leases, initial recognition and measurement and subsequent measurement by lessees....
Reading
7 videos (Total 60 min), 1 reading, 6 quizzes
Video7 videos
Classification of Leases11m
Classification Example6m
Initial Measurement6m
Lessee: Finance Leases5m
Lessee: Operating Leases9m
Variable and Increasing Rents5m
Reading1 reading
Module 4 Overview and Resources10m
Quiz6 practice exercises
Lesson 4.1 Knowledge Check2m
Lesson 4.2-4.3 Knowledge Check4m
Lesson 4.4 Knowledge Check6m
Lesson 4.5-4.6 Knowledge Check4m
Lesson 4.7 Knowledge Check6m
Module 4 Quiz30m

Instructor

Avatar

John Hepp

Clinical Assistant Professor of Accountancy
Department of Accountancy

Start working towards your Master's degree

This course is part of the 100% online Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

About University of Illinois at Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

About the Financial Reporting Specialization

The Financial Reporting Specialization focuses on the role of financial accounting principles and processes in creating and reporting an organization’s financial statements. Learners who complete this specialization will be able to (1) use financial accounting principles to create and/or process an organization’s financial statements and (2) analyze financial statements to assess an organization’s financial position....
Financial Reporting

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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