The course builds on my Introduction to Financial Accounting course, which you should complete first. In this course, you will learn how to read, understand, and analyze most of the information provided by companies in their financial statements. These skills will help you make more informed decisions using financial information.
About this Course
4.9
312 ratings
Skills you will gain
Financial AccountingFinancial StatementAccountingGenerally Accepted Accounting PrinciplesAccounting Terminology
Syllabus - What you will learn from this course
Week
12 hours to complete
Week 5: Introduction and Working Capital Assets
Now that we have a solid grasp of the foundations from the Introduction to Financial Accounting course, we are going to work our way around the Balance Sheet to discuss various types of Assets, Liabilities, and Stockholders' Equity (along with their associated Revenues and Expenses) in more detail. We kick off with Accounts Receivable and the problem that some customers that buy goods on credit will not actually pay us. We will look at the computation, disclosure, and analysis of such "Bad Debts". We will also briefly discuss other Accounts Receivable issues such as Factoring and Securitization. Then, we will move on to Inventory. We will discuss how Inventory accounting differs between retail and manufacturing firms. We will see how companies figure out the cost of the inventory they sold, which requires assumptions about cost flows. This discussion will lead us into covering one of the most infamous accounting topics: LIFO.
8 videos (Total 115 min), 1 reading, 1 quiz
8 videos
Video 5.1.1: Accounts Receivable18m
Video 5.1.2: Estimating Uncollectible Accounts14m
Video 5.2: Accounts Receivable Disclosure Example14m
Video 5.3.1: Inventory18m
Video 5.3.2: LIFO vs. FIFO19m
Video 5.4: Inventory Disclosure Example8m
Video 5.5: 3M Company: Accounts Receivable and Inventory17m
1 reading
Frequently Asked Questions10m
1 practice exercise
Homework #120m
Week
23 hours to complete
Week 6: Long-lived Assets and Marketable Securities
This week, we will cover assets that represent longer-term investments. We will start with Property, Plant, and Equipment, covering questions like: What gets included in these accounts? How are they depreciated? What happens if their value is impaired? Then, we will cover similar questions for Intangible Assets, including Goodwill. Finally, we will discuss how companies account for investments in debt and equity securities and how the treatment for equity investments in other companies is determined by how much of the other company is owned.
8 videos (Total 148 min), 1 quiz
8 videos
Video 6.1.2: Tangible Assets II20m
Video 6.2: Intangible Assets and Goodwill17m
Video 6.3: Long-lived Assets Disclosure Example16m
Video 6.4.1: Marketable Securities I22m
Video 6.4.2: Marketable Securities II12m
Video 6.5: Marketable Securities Disclosure Example16m
Video 6.6: 3M Company: Long-lived Assets & Marketable Securities23m
1 practice exercise
Homework #220m
Week
33 hours to complete
Week 007: Liabilities and Long-term Debt
We move to the right-hand side of the Balance Sheet this week with a look at Liabilities. We will start by covering time-value of money, which is the idea that $1 today is not worth the same as $1 in the future. Almost all liabilities involve a consideration of the time-value of money, so this will be an important foundation piece for you to understand. Then, we will cover accounting for bank debt, mortgages, and bonds. Next, we will move into the topic of "off-balance-sheet" liabilities with a discussion of Leases.
7 videos (Total 166 min), 1 quiz
7 videos
Video 7.1.2: Time Value of Money: Present Value17m
Video 7.1.3: Time Value of Money: Annuities24m
Video 7.2.1: Long-Term Debt and Bonds I25m
Video 7.2.2: Long-Term Debt and Bonds II28m
Video 7.3: Leases28m
Video 7.4: 3M Company: Long-Term Debt and Leases14m
1 practice exercise
Homework #320m
Week
43 hours to complete
Week 8: Deferred Taxes
There are two certainties in life, and we will cover one of them this week (the other is beyond the scope of the course). We will NOT teach you how to prepare your own tax return. Instead, we will discuss how companies have to prepare "two sets of books": their financial statements and their tax returns. The rules are different for these two sets of books, leading to permanent differences and to temporary differences. We will cover both types of differences, with a main focus on "deferred taxes", which are the byproduct of temporary or timing differences between tax reporting and financial reporting. Finally, we will touch on other tax issues, such as Net Operating Loss Carryforwards and the rule that requires companies to disclose how much they are trying to cheat on their taxes (sorry, that should say "use tax planning strategies to manage their taxable income").
7 videos (Total 130 min), 1 quiz
7 videos
Video 8.2.1: Deferred Tax Liabilities17m
Video 8.2.2: Deferred Tax Assets and Tax Rate Changes20m
Video 8.3: Valuation Allowances and NOLs14m
Video 8.4: Income Tax Disclosure Example25m
Video 8.5: Taxes, SCF, and Marketable Securities18m
Video 8.6: 3M Company: Income Taxes13m
1 practice exercise
Homework #420m
4.9
71 Reviews33%
started a new career after completing these courses
50%
got a tangible career benefit from this course
14%
got a pay increase or promotion
Top Reviews
Professor Bushee is fantastic!! Best accounting professor I've ever had, aside from a similar professor at UCLA (David Ravetch) who was able to bring humor to accounting in the same way.
Awesome!!!\n\nProfessor Brian Bushee teaching style is easy to understand & fun.I would love to study more accouting & finance course from professor. Please create more courses for us.
Instructor
Brian J Bushee
The Geoffrey T. Boisi ProfessorAccounting
About University of Pennsylvania
The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.
Frequently Asked Questions
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
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Is financial aid available?
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