Buy Now AED 274.99 + VAT

Monthly Subscription Starting at AED 99 + VAT

Financial Accounting: Foundations
  • Level Foundation
  • Duration 14 hours
  • Course by University of Illinois Urbana-Champaign
  • Offered by

About

In this course, you will learn foundations of financial accounting information. You will start your journey with a general overview of what financial accounting information is and the main financial statements. You will then learn how to code financial transactions in financial accounting language. In the meantime, you will learn about the most important concept in contemporary financial accounting: accrual accounting. You will then critically analyze how firms recognize revenues. Finally, you will finish the course with an analysis of accounting for short-term assets where you will go into detail on how firms account for accounts receivables and inventories. Upon successful completion of this course, you will be able to: - Understand main financial statements and the financial information they provide - Write a financial transaction in financial accounting language and understand how this impacts main financial statements - Understand how accrual accounting and fundamental accounting concepts work - Understand revenue recognition principles and how they impact main financial statements - Account for accounts receivables and inventories. This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.

Modules

About the Course

    • 2 Videos
    • 4 Readings
    • 1 Plugin
    • 1 Assignment
Show info about module content

1 Assignment

  • Orientation Quiz

2 Videos

  • Meet Professor Urcan
  • The Impact of the Gies Community

4 Readings

  • Syllabus
  • Glossary
  • About the Discussion Forums
  • Online Education at Gies College of Business

About Your Classmates

    • 1 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • Getting to Know Your Classmates

1 Readings

  • Updating Your Profile

Module 1 Information

    • 2 Readings
Show info about module content

2 Readings

  • Module 1 Overview
  • Module 1 Readings

Lesson 1-1: Introduction

    • 3 Videos
    • 1 Quiz
Show info about module content

3 Videos

  • Lesson 1-1: Introduction to Financial Accounting
  • Lesson 1-1: What Is Accounting?
  • Lesson 1-1: Financial Accounting Information

1 Quiz

  • Lesson 1-1: Practice Quiz

Lesson 1-2: Balance Sheets

    • 4 Videos
    • 1 Quiz
Show info about module content

4 Videos

  • Lesson 1-2: Balance Sheet Overview
  • Lesson 1-2: Balance Sheet: Assets
  • Lesson 1-2: Balance Sheet: Liabilities
  • Lesson 1-2: Balance Sheet: Shareholders’ Equity

1 Quiz

  • Lesson 1-2 Practice Quiz

Lesson 1-3: Income Statement

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 1-3: Income Statement

1 Quiz

  • Lesson 1-3: Practice Quiz

Lesson 1-4: Cash Flow Statement

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 1-4: Cash Flow Statement

1 Quiz

  • Lesson 1-4: Practice Quiz

Module 1 Case Video

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • Module 1 Case Video

2 Readings

  • Module 1 Example Case Questions
  • Module 1 Example Case Solutions

Module 1 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Introduction to Financial Accounting Quiz

Module 2 Information

    • 2 Readings
Show info about module content

2 Readings

  • Module 2 Overview
  • Module 2 Readings

Lesson 2-1: Overview

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 2-1: Introduction

1 Quiz

  • Lesson 2-1 Practice Quiz

Lesson 2-2: Illinois Supermarket

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 2-2 Example: Illinois Supermarket

1 Quiz

  • Lesson 2-2 Practice Quiz

Lesson 2-3: Individual Accounts

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 2-3: Individual Accounts

1 Quiz

  • Lesson 2-3 Practice Quiz

Lesson 2-4: Accrual Accounting

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 2-4: Accrual Accounting

1 Quiz

  • Lesson 2-4 Practice Quiz

Module 2 Case Video

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • Module 2 Case Video

2 Readings

  • Module 2 Example Case Questions
  • Module 2 Example Case Solutions

Module 2 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Recording Transactions and Financial Statement Preparation Quiz

Module 2 Resources

    • 1 Readings
Show info about module content

1 Readings

  • Additional Resources

Module 3 Information

    • 2 Readings
Show info about module content

2 Readings

  • Module 3 Overview
  • Module 3 Readings

Lesson 3-1: Overview

    • 1 Videos
Show info about module content

1 Videos

  • Lesson 3-1: Introduction

Lesson 3-2: Fundamental Accounting Concepts

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 3-2: Fundamental Accounting Concepts

1 Quiz

  • Lesson 3-2 Practice Quiz

Lesson 3-3: Accruals Concept

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 3-3: Accruals Concept

1 Quiz

  • Lesson 3-3 Practice Quiz

Lesson 3-4: Conservatism Concept

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 3-4: Conservatism Concept

1 Quiz

  • Lesson 3-4 Practice Quiz

Lesson 3-5: Revenue Recognition

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 3-5: Revenue Recognition

1 Quiz

  • Lesson 3-5 Practice Quiz

Module 3 Case Video

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • Module 3 Case Video

2 Readings

  • Module 3 Example Case Questions
  • Module 3 Example Case Solutions

Module 3 Graded Activities

    • 1 PeerReview
    • 1 Assignment
Show info about module content

1 Assignment

  • Fundamental Accounting Concepts and Revenue Recognition Quiz

1 Peer Review

  • Module 3 Peer Assessment

Module 4 Information

    • 2 Readings
Show info about module content

2 Readings

  • Module 4 Overview
  • Module 4 Readings

Lesson 4-1: Overview

    • 1 Videos
Show info about module content

1 Videos

  • Lesson 4-1: Introduction

Lesson 4-2: Accounts Receivables: Cash Discounts

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-2: Accounts Receivables: Cash Discounts

1 Quiz

  • Lesson 4-2 Practice Quiz

Lesson 4-3: Accounts Receivables: Sales Returns

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-3: Accounts Receivables: Sales Returns

1 Quiz

  • Lesson 4-3 Practice Quiz

Lesson 4-4: Accounts Receivables: Bad Debts

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-4: Accounts Receivables: Bad Debts

1 Quiz

  • Lesson 4-4 Practice Quiz

Lesson 4-5: Accounts Receivables of Walmart

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-5: Accounts Receivables of Walmart

1 Quiz

  • Lesson 4-5 Practice Quiz

Lesson 4-6: Inventories

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-6: Inventories

1 Quiz

  • Lesson 4-6 Practice Quiz

Lesson 4-7: Cost Flow Assumptions

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Lesson 4-7: Cost Flow Assumptions

1 Quiz

  • Lesson 4-7 Practice Quiz

Lesson 4-8: Inventories of Walmart

    • 1 Videos
Show info about module content

1 Videos

  • Lesson 4-8: Inventories of Walmart

Module 4 Appendix 1: LIFO - FIFO Conversion

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Module 4 Appendix 1: LIFO - FIFO Conversion

1 Quiz

  • Appendix 1 Practice Quiz

Module 4 Case Video

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • Module 4 Case Video

2 Readings

  • Module 4 Example Case Questions
  • Module 4 Example Case Solutions

Module 4 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Short-Term Assets Quiz

Course Conclusion

    • 1 Videos
    • 2 Readings
    • 1 Plugin
Show info about module content

1 Videos

  • Learn on Your Terms

2 Readings

  • Congratulations on completing the course!
  • Get Your Course Certificate

Auto Summary

Unlock the essentials of financial accounting with the "Financial Accounting: Foundations" course, designed for those looking to gain a solid understanding of the financial aspects in the business and management domain. Guided by expert instructors from the University of Illinois, this foundational course delves into the core principles of financial accounting, offering a comprehensive overview of key financial statements and the intricacies of financial transaction coding. Throughout the course, you will master the critical concept of accrual accounting, explore revenue recognition principles, and learn to account for short-term assets such as accounts receivable and inventories. By the end of the course, you'll be proficient in understanding and analyzing financial statements, applying accrual accounting methods, and recognizing revenues accurately. This course is an integral part of the iMBA program, a flexible, fully-accredited online MBA offered at a competitive price by the University of Illinois. It spans approximately 840 minutes of engaging content and is available through Coursera with various subscription options, including Starter, Professional, and Paid plans. Ideal for beginners in financial accounting, this course is perfect for aspiring business professionals and managers seeking to enhance their financial literacy and accounting skills. Join now and take the first step towards mastering financial accounting and advancing your career in business and management.

Oktay Urcan
Instructor

Oktay Urcan