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Learner Reviews & Feedback for Financial Accounting: Foundations by University of Illinois at Urbana-Champaign

4,392 ratings

About the Course

In this course, you will learn the foundations of financial accounting information. You will start your journey with a general overview of what financial accounting information is and the main financial statements. You will then learn how to code financial transactions in financial accounting language. In the meantime, you will learn about the most important concept in contemporary financial accounting: accrual accounting. You will then critically analyze how firms recognize revenues. Finally, you will finish the course with an analysis of accounting for short-term assets, where you will go into detail on how firms account for accounts receivable and inventories. Upon successful completion of this course, you will be able to: • Understand the main financial statements and the financial information • Write a financial transaction in financial accounting language and understand how this impacts the main financial statements • Understand how accrual accounting and fundamental accounting concepts work • Understand revenue recognition principles and how they impact the main financial statements • Account for accounts receivable and inventories. This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and go to

Top reviews


Sep 3, 2017

Though I have been through Intro Accounting some 3 or 4 times through different classes and seminars, I still found myself learning from this detailed and straight forward presentation of information.


Jun 6, 2020

The modules were extremely informative and nothing less to say, Oktay sir's presentations were very easy to understand even for a person like me who has no prior knowledge about Financial Accounting.

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51 - 75 of 985 Reviews for Financial Accounting: Foundations


Feb 23, 2021

In the mean time,we learn about the most important concept in contemporary financial accounting: accrual accounting. we critically analyze how firms recognize revenues. Finally, we learn how to analy the accounting for short-term assets where we went into detail on how firms account for accounts receivables and inventories. Upon successful completion of this course, we are able to: • Understand main financial statements and the financial information they provide • Write a financial transaction in financial accounting language and understand how this impacts main financial statements • Understand how accrual accounting and fundamental accounting concepts work •


Apr 12, 2020

Dedication and discipline is the key to completing the whole course. The course is arranged gradually and even though it is stated for beginner, you need to pay attention to the professor if you want to pass the tests. You cannot only rely on the PDFs. Great course, I felt extremely challenged. Thank you, Univ. Illinois Urbana-Champaign for allowing me to experience world-class education!

The course was great. I learned a lot about accounting basics that will help me to better understand more complex situations. Thank you, Coursera. Thanks to our professor and those who helped to make this course.

By Venkatesh P

Jul 2, 2017

The Professor Mr.Oktay Urcan was crystal clear in explaining all the concepts with really good examples and illustrations ( Walmart, Illini Supermarket and others..). Loved the way the content is structured and the practice and graded quizzes at the end of every module made sure we knew our concepts really well.

A special mention about the peer-graded assignment which was not more of answering questions rather testing our ability to analyse various articles and present a good summary !

This was my first Coursera course and I'm happy that it was best !

By Ganapathi N

Jun 3, 2023

The course was very easy to understand for me who is from a non-commerce background without accounting knowledge. The teacher has done a good job in teaching the basics, giving examples regarding the topics. Also the case studies practice questions on real reports of big companies helped understand about the financial accounting process about the big companies. This course is a must for people trying to understand balance sheet, income statement, fundamental accounting equation, accrual accounting, deferrals and much more.


Aug 22, 2020

A must have course. This one, added to Formal Financial Accounting course, gave me a solid basis on which I can count in further courses and future accounting situations. M. Oktay Urcan is a wonderful teacher with an efficient methode and way of explaning thing by simplifying them. Moreover, the case method makes his teachning even more realistic, comprehensive and applicable in daily life, in contrast to the the various teachings we have in real life which are too theoric and fuzzy. Best regards Sir Oktay Urcan.

By Nipun S D

Jan 16, 2021

Module 4 is not consistent to understand. I found it easy to apply recording to Unearned revenue but was lost when it came to module 4. It didn't seem consistent . Then the case videos there was total consistecy loss where I had to break my head what to find where. I have to depend on the professor or study group on Module 4.

Update 1/16/2021 - I have updated to give all points as this was my first iMBA class I was not sure what was coming towards me.

By Joe F

Aug 15, 2018

I was so excited about the class that I went ahead and completed the coursework prior to the class beginning. Having a Finance and Accounting background made the class easier but I am really looking forward to the live sessions so that I may sharpen my financial accounting skills. I feel that I still have much room for improvement and am confident that Professor Urcan will provide me with the tools to succeed in this class.

By Tosin M

Jan 12, 2022

Too often, smart hardworking busy people miss out on education because of traditional linear learning. Learn on your terms. With stackable online content from Gies College of Business, you can take self-paced classes, earn transcriptable credit, pause, earn a degree. Switch in stack coursework, earn a certificate, or learn however you want. You'll get expert-led education and big or bite-sized increments. 

By Prudhvi P

May 29, 2020

The course is very well structured and easy to understand the basic concepts. The prof has done a great job explaining the concepts. Every module has enough practice questions to apply the concepts thought. The only downside is for some of the solutions the reasoning was not explained clearly. So I got confused about a few concepts. Other than that it is amazing and I had a great learning experience

By Dewi M B

Apr 14, 2017

This course covers all the basic financial management that you need. It is easy to understand,, easy to digest , clear explanation--- even for a person without accounting background. I am so happy that I can add the certificate in linkedin for this diploma, it perfects my CV and qualification in the market. It is a brilliant online course for those whose looking for learning in flexible hours.

By Minna

Aug 31, 2022

Being completely new to accounting, I feel like I learnt a lot in the four weeks. The course has been structured really well to build your understanding in a gradual but steady way. Though a lot of material is covered, Prof Urcan explains the concepts very well, so that anybody can follow. I enjoyed the case studies and the challenging quizzes. Many thanks for this excellent course.

By Dianne S V B

Dec 6, 2020

This is an excellent course! I really enjoyed learning from the wide variety of materials available. It was intense but it's worth every bit of your time even if you do not really have a background in this area as in my case. Now I have a deeper understanding of Financial Accounting but I know its just the beginning. I would recommend this course to anyone and everyone. Great job!

By Jonathan C

Aug 6, 2020

I learned so much in so little time. I felt the lectures were the same quality as college classes. The amount of material made it easy to practice what was learned. I loved the module quizzes that reinforced learning. I truly am a better person because of this course. I have tried other websites and by far UofI + Coursera is #1. Thank you so much for democratizing education.

By Ahmed I A

Mar 16, 2021

About review of financial accounting foundation are three types of business, three types of business organizations, GAAP, business transaction, cost concept and accounting reports called financial statements.

This course is important all business student that went to be financial analysis is usefully financial statements to determine that a business strategy

By Andrew G

Apr 11, 2021

I enjoyed the course very much. The pace was quite fast, but that suited me as I had already completed a bookkeeping course about ten years ago that covered much of the same ground so the course was very useful to refresh my memory, while learning new aspects of financial accounting at the same time. I thought the assignment was particularly interesting.

By Mohamed S

Jan 6, 2021

Thank you to you and to Professor URCAN who gave us a brief explanation, it was a pleasant pleasure to take the online courses in your university I thank Coursera as well as his partners who also allowed us through their relationship to have access to these courses thank you thank you especially my very dear teacher URCAN my sincere greetings to him.

By Jolly B M

Jan 4, 2021

The overall review of the course in my personal opinion has been outstanding, It has given me a wide understanding on the accounting course and has equipped me to fully apply the lessons learnt in my day to day tasks to help me fully undertake my daily career. The course has widened my understanding and opinions to a certain standard.

By Johan P

Nov 21, 2020

I am very pleased to have the opportunity to learn in Coursera and with Ilinois University that was amazing for me in terms of new knowledge and the tools that you have used to tackle and faced all of the subjects.Thanks a lot and I am very excited to start the second module of this Specialization counting with your aid and support.


Jun 28, 2020

Everything in the course is very logical and easy to follow, the cases help with further developing the skills that we learn throughout the course. I would only have to say that the final module (i.e. module 4), increases the level of complexity by a lot, compared to the increase in complexity from module 1 to module 2 and module 3.

By Pablo B D (

Mar 7, 2017

In my humble opinion this course has been excellent to me, I found it amazingly interesting, I have never worked the balance sheet and there is a lot to get to know yet but the course got my deepest interest and I wish everybody to do this course, the professor Oktay Urcan is perfect, I like the teaching a lot.!!

Thanks Coursera!!😊

By Tran H D

Aug 1, 2023

One of the most insightful, concise and very practical introduction to accounting course. There are a few great cases for students to get a real-world application of their accounting concept. The cases materials gave students a lot of confidence that they can comprehend and understand financial statements of the biggest corporates

By Daniel P

Aug 22, 2020

This course covers the most important topics in accounting and it also provides a lot of real world use cases with balance sheets of real companies. Going through these use cases will boost your confidence that you did not "only" learn some theory but that you can also apply your knowloedge.

Thank you for providing the course!

By Ryan J

Mar 19, 2018

Great course as a refresher on some of the core accounting concepts. Instructor provides material in a concise and easy to understand manner and real world examples are given as well via financial statements. Quizzes allow you to work through examples and ensure you understand concepts without being overly easy or difficult.

By Sharie C

Sep 16, 2020

This course was very informative. It had supported documentation and step by step example of how to go about calculating . Each lesson taught was straight forward and one can easy follow. Overall I rate this course a 5star the only thing am having problem getting my certificate after the dedication and time I invested.

By John P

Jun 16, 2021

Excellent course for a refresher in financial accounting. The modular aspect and how the content was broken up with frequent practice quizzes and then a larger practice problem set--complete with solutions in paper and video--for each section was very effective. Prof. Urcan was very effective and clear in lectures.