University of California, Irvine

What is Financial Accounting?

This course is part of Introduction to Financial Accounting: The Accounting Cycle Specialization

Taught in English

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Andrea Eliassen

Instructor: Andrea Eliassen

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Course

Gain insight into a topic and learn the fundamentals

4.7

(420 reviews)

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96%

Beginner level
No prior experience required
9 hours (approximately)
Flexible schedule
Learn at your own pace

Details to know

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Assessments

8 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.7

(420 reviews)

|

96%

Beginner level
No prior experience required
9 hours (approximately)
Flexible schedule
Learn at your own pace

See how employees at top companies are mastering in-demand skills

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This course is part of the Introduction to Financial Accounting: The Accounting Cycle Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 4 modules in this course

Welcome to the first module of the course! We will start our introduction to the field of financial accounting by discussing practical applications of accounting information. Additionally we will identify who uses accounting information, address ethical considerations relevant to accounting, and define the three main forms of business ownership.

What's included

2 videos2 readings2 quizzes

In this module we are introduced to the accounting equation and the four basic financial statements. We will start by breaking down the components of the accounting equation: assets, liabilities, and equity. We will then take a look at three out of the four basic financial statements: the income statement, the retained earnings statement, and the balance sheet. In this module's activity we will introduce you to the sum function in Excel, which will be used in the remaining activities for this course.

What's included

2 videos1 reading2 quizzes

In this module we introduce the first step in the accounting cycle: “Analyze Transactions”. By the end of this module you will be able to analyze and record service business transactions within the fundamental accounting equation. First, we will walk through examples of recording business transitions in the video lesson. Then you will complete an activity to practice recording transactions on your own.

What's included

3 videos2 readings2 quizzes

In this module we will analyze and record service business transactions using the debit and credit rules. We will also cover the function of T accounts within the accounting cycle and how to calculate the balances of each account at the end of an accounting period. In this module's activity you will have the opportunity to practice recording transactions in T accounts on your own in Excel.

What's included

3 videos2 readings2 quizzes

Instructor

Instructor ratings
4.8 (174 ratings)
Andrea Eliassen
University of California, Irvine
3 Courses18,966 learners

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