This course is designed to provide a basic understanding of financial statements with an emphasis on the balance sheet. However, to understand accounting driven financial statements, it is important to recognize that accounting is less about counting and more about measuring. “What is it that is being measured?” Well, as the course unfolds, you will learn about the three measurement questions and how the balance sheet helps to answer the first two of these questions. By touring a real company and interviewing real business people, the course describes the basic content of financial statements in a simple yet relevant context. The goal of the course is to leave a lasting impression about what balance sheet consists of and what it reveals. The next course in the Fundamentals of Accounting Specialization completes the conversation by addressing the remaining measurement question.
About this Course
Skills you will gain
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.
- 5 stars80.46%
- 4 stars17.05%
- 3 stars1.97%
- 2 stars0.25%
- 1 star0.25%
TOP REVIEWS FROM UNDERSTANDING FINANCIAL STATEMENTS: COMPANY POSITION
Having worked with accountants for 11 years but only taking a few accounting classes in college, this taught me many things that help me better understand what the accountants are talking about.
I never thought I would enjoy learning about balance sheets so much! I found this course engaging, educational, and I was motivated to continue to learn and progress during the course.
Kevin is such a great professor! He really knows how to break the jargon and the concepts down so that they're easy to understand. Such a fantastic teacher!
The course is very informative and the instructor's methodology, knowledge, and the quality of education material provided made it very easy to understand.
About the Fundamentals of Accounting Specialization
Accounting is the “language of business.” Being able to understand this language allows individuals both inside and outside of an organization to join the “conversation” about how the organization is performing and how it can improve future performance. Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the right business decisions.
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