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Learner Reviews & Feedback for Formal Financial Accounting by University of Illinois at Urbana-Champaign

244 ratings
44 reviews

About the Course

This course builds upon what you learned in Financial Accounting: Foundations and Financial Accounting: Advanced Topics and introduces you to formal foundations of financial accounting. The main purpose of the course is to familiarize you with technical terms in financial accounting, such as debit, credit and T-account. While knowledge on technical aspects of financial accounting is not necessary to understand and interpret financial statements, this knowledge is critical to be able to understand advanced topics in accounting. Formal Financial Accounting is a prerequisite course for the University of Illinois' iMSA program and the terminology we will cover will be used throughout the courses in iMSA program. The University of Illinois at Urbana-Champaign, consistently ranked as one of the nation's top three accounting programs, now offers a master’s in accounting at a very affordable tuition rate and is completely online. The iMSA is a full Master of Accountancy program and students graduate with a highly recognized master degree. Try an open course or two, then apply for admission into the credit-bearing version, as you may be eligible to take credit-bearing courses during the application process. If you are missing any prerequisites for the full degree, you can complete Coursera courses to demonstrate readiness and strengthen your application for the iMSA. For more information on this exciting online master's in accounting program, refer to this link: ...

Top reviews


Dec 09, 2017

The lectures are great and easy to understand, and the examples are well explained and easy to follow. The professor explains the material in a very understandable way .


May 26, 2020

Its a good course overall. Especially for those who had Science stream in their high school and have taken Finance in their Undergrad

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26 - 44 of 44 Reviews for Formal Financial Accounting

By Khaled M A H

Jul 23, 2018

Very valuable course

By sonam c j

Oct 27, 2020

it was good

By Z.Shoukath A

Sep 15, 2020


By Pedro C A V

Jul 19, 2019


By Deleted A

Apr 25, 2020

very good

By Ali A

Apr 02, 2020

The Best

By Nicat K

Apr 10, 2020


By Ziba H

Apr 08, 2020


By Anefu S A

Jul 19, 2020


By Vivek V

Jun 16, 2020

I would have preferred if the final quiz was more challenging. It'd have been better if we had to actually prepare financial statements from the ledger accounts.

Nevertheless, I learnt quite a bit from this course so I'm happy :)

By Saaid S

May 14, 2020

Great teaching technique. Build from a simple example and then add more complicated situations. No nonsense straight forward course. Highly recommended.

By Federico C

Aug 10, 2020

Good basic course with examples and practice excercises. It is a very clear, simple and useful explanation.

By Helena S

May 13, 2020

I´d would like to know the mistakes I´ve made in the exams ;) but and interesting course ! thanks

By adil l

Aug 02, 2020

Mr Oktay is very talented person, he makes it as simple as he can.

By Juan C

Jun 18, 2020

It could have gone more in depth

By Farid A

Apr 05, 2020

this course has simple explain.

By Robin M

May 04, 2018

The course gave many useful examples of the proper use of "debit" and "credit".

However, spreading this out over 4 weeks felt a little thin.

I think this certainly important terminology could have been covered as part of a more comprehensive course.

I found Introductory and Advanced Financial Accounting more helpful.

By Robin L W

Feb 07, 2019

not enough practice oppportunity. In quizes, if you get an answer wrong but still pass, the correction is not taught -should be.

By Jonathan G

Mar 26, 2018

are too many quizzes in this course and the lessons are tedious!