University of Illinois at Urbana-Champaign

Financial Accounting: Foundations

This course is part of multiple programs.

Taught in English

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Oktay Urcan

Instructor: Oktay Urcan

143,349 already enrolled

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Course

Gain insight into a topic and learn the fundamentals

4.7

(4,390 reviews)

|

97%

Beginner level
No prior experience required
12 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

What you'll learn

  • Accounting information and how it is used by different capital market participants

  • Record financial information and produce the main financial statements

  • Fundamental accounting concepts and revenue recognition criteria in preparing financial statements,

  • Conduct the accounting for short-term assets, with a particular focus on accounts receivables and inventories.

Details to know

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Assessments

23 quizzes, 1 assignment

Course

Gain insight into a topic and learn the fundamentals

4.7

(4,390 reviews)

|

97%

Beginner level
No prior experience required
12 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

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There are 5 modules in this course

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

What's included

2 videos5 readings1 assignment1 discussion prompt1 plugin

Accounting is the language of business. Managers communicate the results of operations within a firm through accounting to various financial information users including investors and creditors. In this module, you will explore various users of accounting information and the main financial statements they use to acquire accounting information. You will develop an understanding of the particular type of information provided by each financial statement and how financial statements are related to each other.

What's included

10 videos4 readings5 quizzes

The starting point of financial statements is individual financial transactions. In this module, you will learn how to code financial transactions in accounting language and how to build the main financial statements from these coded financial transactions. This bottom-up approach will help you appreciate the impact of various financial transactions on the main financial statements.

What's included

5 videos5 readings5 quizzes

Fundamental accounting concepts and revenue recognition principles are at the heart of coding financial transactions in accounting language as well as the preparation of financial statements from these coded financial transactions. Real-life transactions are reflected in financial statements through the lens of these concepts and principles. A good understanding of these concepts and principles will help you understand the type and nature of information you can learn from financial statements.

What's included

6 videos4 readings5 quizzes1 peer review

One of the major components of a balance sheet is short-term assets, which are assets that can be converted into cash within a year. Accounts receivables and inventories constitute a major part of short-term assets. Understanding accounting for these accounts will help you uncover how these accounts change over time, their valuation, and their usefulness in managerial decision-making.

What's included

11 videos6 readings8 quizzes1 plugin

Instructor

Instructor ratings
4.6 (903 ratings)
Oktay Urcan
University of Illinois at Urbana-Champaign
5 Courses165,421 learners

Offered by

Recommended if you're interested in Finance

Get a head start on your degree

This course is part of the following degree programs offered by University of Illinois at Urbana-Champaign. If you are admitted and enroll, your coursework can count toward your degree learning and your progress can transfer with you.

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4.7

4,390 reviews

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