University of Illinois at Urbana-Champaign

Financial Accounting: Foundations

This course is part of multiple programs.

Oktay Urcan

Instructor: Oktay Urcan

120,658 already enrolled


Gain insight into a topic and learn the fundamentals


(4,242 reviews)

14 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

Skills you'll gain

  • Category: Financial Accounting
  • Category: Accounting
  • Category: Accrual
  • Category: Financial Statement

Details to know

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Quizzes and assessments

20 quizzes, 4 assessments

Subtitles: Arabic, French,


Gain insight into a topic and learn the fundamentals


(4,242 reviews)

14 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

Build your subject-matter expertise

This course is available as part of
When you enroll in this course, you'll also be asked to select a specific program.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate

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 quiz

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 readings4 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 main financial statements from these coded financial transactions. This bottom-up approach will help you appreciate the impact of various financial transactions on main financial statements.

What's included

5 videos5 readings4 quizzes

Fundamental accounting concepts and revenue recognition principles are at the heart of coding financial transactions in accounting language as well as 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 the nature of information you can learn from financial statements.

What's included

6 videos4 readings4 quizzes

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 readings7 quizzes


Instructor ratings
4.6 (867 ratings)
Oktay Urcan
University of Illinois at Urbana-Champaign
5 Courses137,915 learners

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Get a head start on your degree

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

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