When you enroll in this course, you'll also be enrolled in this Specialization.
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 4 modules in this course
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.
Upon successful completion of this course, you will be able to:
• Describe the purpose of a balance sheet.
• Define the three components of a balance sheet.
• Recognize and understand the meaning of several items typically presented on a balance sheet.
• Explain the broader purpose of financial statements and the role of accounting in producing the financial statements.
• Read and, to some extent, interpret real-world balance sheets.
If you enjoy this business course and are interested in an MBA, consider applying to the iMBA, a flexible, fully-accredited online MBA at an incredibly competitive price offered by the University of Illinois. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
In this module, 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. Then, we will introduce you to the basics of financial statements by emphasizing the links between accounting, measurement, and financial statements.
Welcome to Understanding Financial Statements: Company Position!•2 minutes
1-1. What Is Accounting?•14 minutes
1-2. Why Are Financial Statements Important?•8 minutes
7 readings•Total 70 minutes
Syllabus•10 minutes
About the Discussion Forums•10 minutes
Glossary•10 minutes
Updating Your Profile•10 minutes
Social Media•10 minutes
Module 1 Overview•10 minutes
Lessons 1 & 2 Readings•10 minutes
4 assignments•Total 120 minutes
What Is Accounting and Why Are Financial Reports Important? Quiz•30 minutes
Orientation Quiz•30 minutes
Lesson 1-1 Practice Quiz•30 minutes
Lesson 1-2 Practice Quiz•30 minutes
1 discussion prompt•Total 10 minutes
Getting to Know Your Classmates•10 minutes
1 plugin•Total 15 minutes
Demographic Survey•15 minutes
Module 2: Assets – What Do You Own?
2 hours to complete
Module details
This module will explain the basics of the balance sheet, provide a working definition of assets, and give you an overview of assets typically presented on the balance sheet.
What's included
2 videos2 readings3 assignments
Show info about module content
2 videos•Total 23 minutes
2-1. The Balance Sheet – Current Assets•12 minutes
2-2. The Balance Sheet – Non-Current Assets•12 minutes
2 readings•Total 20 minutes
Module 2 Overview•10 minutes
Module 2 Readings•10 minutes
3 assignments•Total 90 minutes
Assets – What Do You Own? Quiz•30 minutes
Lesson 2-1 Practice Quiz•30 minutes
Lesson 2-2 Practice Quiz•30 minutes
Module 3: Liabilities – What Do You Owe?
2 hours to complete
Module details
This module will introduce you to the concept of liabilities and explain what they are and how they can arise.
What's included
2 videos2 readings3 assignments
Show info about module content
2 videos•Total 24 minutes
3-1. The Balance Sheet – Liabilities Part 1•11 minutes
3-2. The Balance Sheet – Liabilities Part 2•14 minutes
2 readings•Total 20 minutes
Module 3 Overview•10 minutes
Module 3 Readings•10 minutes
3 assignments•Total 90 minutes
Liabilities – What Do You Owe? Quiz•30 minutes
Lesson 3-1 Practice Quiz•30 minutes
Lesson 3-2 Practice Quiz•30 minutes
Module 4: Equity and How the Balance Sheet Fits Together
4 hours to complete
Module details
This module will build an intuition for what equity represents. It will also explain how the components of the balance sheet relate to one another.
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.
"To be able to take courses at my own pace and rhythm has been an amazing experience. I can learn whenever it fits my schedule and mood."
Jennifer J.
Learner since 2020
"I directly applied the concepts and skills I learned from my courses to an exciting new project at work."
Larry W.
Learner since 2021
"When I need courses on topics that my university doesn't offer, Coursera is one of the best places to go."
Chaitanya A.
"Learning isn't just about being better at your job: it's so much more than that. Coursera allows me to learn without limits."
Learner reviews
4.8
1,390 reviews
5 stars
80.33%
4 stars
16.72%
3 stars
1.86%
2 stars
0.43%
1 star
0.64%
Showing 3 of 1390
B
BM
5·
Reviewed on Aug 26, 2016
This course is a great introduction to understanding Balance Sheets and has been a big help to me in my job. I highly recommend this course and I really liked the Professor.
M
MH
5·
Reviewed on May 22, 2016
Great course! Mr Jackson put a lot of effort into the construction of the class and explained everything in detail so that you get a solid understanding of the Balance Sheet
V
VV
5·
Reviewed on Nov 30, 2020
It's a good course for beginners. Coursera Courses can only provide you the full benefits of the learner completes the whole specialization, not just a single course.
When will I have access to the lectures and assignments?
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
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.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.