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Financial Accounting Fundamentals
  • Level Foundation
  • Duration 14 hours
  • Course by University of Virginia
  • Offered by

About

This course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the tools you'll need to understand the fundamentals of financial accounting. Concise videos, the financial records of a small business, and "your turn" activities guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows. Beyond recording transactions, you'll learn how to prepare these financial statements, and read and analyze them to draw basic conclusions about a company's financial health. By the end of this course, you will be able to: - Use journal entries to record transactions - Prepare and use t-accounts to summarize transactions recorded during an accounting period - Describe the three most commonly used financial statements and how they fit together - Prepare these financial statements based on transactions recorded during an accounting period - Draw basic conclusions about a company's financial health

Modules

Introduction to the Course and to Financial Accounting

    • 4 Videos
    • 2 Readings
    • 1 Discussion
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1 Discussions

  • Introduce Yourself

4 Videos

  • Introduction to the Course
  • What Is Accounting?
  • 3 Sets of Books
  • An Informational Role for Financial Accounting

2 Readings

  • Welcome to the Specialization
  • Course Overview

Accounting Standards

    • 2 Videos
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2 Videos

  • Accounting Standards Inside the U.S.
  • Accounting Standards Outside the U.S.

The Financial Statements and Accounting Process

    • 3 Videos
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3 Videos

  • The Financial Statements
  • The Financial Statements: A Framework
  • The Accounting Cycle

The Balance Sheet

    • 5 Videos
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5 Videos

  • The Balance Sheet
  • Assets
  • Liabilities
  • Owners' Equity
  • The Balance Sheet: A Summary

Week 1 Assessments

    • 2 Assignment
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2 Assignment

  • Week 1 Practice Quiz
  • Week 1 Graded Quiz

Recording Transactions

    • 13 Videos
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13 Videos

  • Introduction to Recording Transactions
  • T-Accounts: A Tutorial
  • Journal Entries: A Tutorial
  • Recording Transactions: Example 1
  • Recording Transactions: Example 2
  • Recording Transactions: Example 3
  • Recording Transactions: Your Turn
  • Introduction to TGS Year 1
  • TGS Year 1: Transaction 1
  • TGS Year 1: Transaction 2
  • TGS Year 1: Transaction 3
  • TGS Year 1: Transaction 4
  • TGS Year 1: Transaction 5 and a Summary

Week 2 Assessments

    • 1 Discussion
    • 2 Assignment
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2 Assignment

  • Week 2 Practice Quiz
  • Week 2 Graded Quiz

1 Discussions

  • Discuss Interesting and/or Challenging Items

The Income Statement

    • 4 Videos
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4 Videos

  • Introduction to the Income Statement
  • Revenues
  • Expenses
  • The Income Statement: A Summary

Recording Revenue and Expense Transactions

    • 5 Videos
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5 Videos

  • Revenue and Expense Transactions: A Tutorial
  • Recording Revenue and Expense Transactions: Your Turn
  • TGS Year 1: Transaction 6
  • TGS Year 1: Transaction 7
  • TGS Year 1: Transaction 8

Recording Adjusting Entries

    • 5 Videos
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5 Videos

  • Adjusting Entries: A Tutorial
  • Recording Adjusting Entries: Your Turn
  • TGS Year 1: Transaction 9
  • TGS Year 1: Transaction 10
  • TGS Year 1: Transaction 11 and a Summary

Week 3 Assessments

    • 1 Discussion
    • 2 Assignment
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2 Assignment

  • Week 3 Practice Quiz
  • Week 3 Graded Quiz

1 Discussions

  • Discuss Interesting and/or Challenging Items

Preparing the Income Statement and Balance Sheet

    • 4 Videos
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4 Videos

  • Introduction to Financial Statement Preparation
  • TGS Year 1: Preparing the Income Statement
  • TGS Year 1: Preparing the Balance Sheet
  • TGS Year 1: Revisiting the Financial Statement Framework

Supplemental: Hey Managers!

    • 2 Videos
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2 Videos

  • A Managerial Approach to Recording Transactions
  • Transactions from the Viewpoint of a Manager

Preparing the Statement of Cash Flows

    • 5 Videos
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5 Videos

  • Introduction to the Statement of Cash Flows
  • Explaining the Change in Cash: A Tutorial
  • TGS Year 1: Preparing the Operating Activities Section of the Statement of Cash Flows
  • TGS Year 1: Preparing the Investing Activities Section of the Statement of Cash Flows
  • TGS Year 1: Preparing the Financing Activities Section of the Statement of Cash Flows

Closing Entries

    • 1 Videos
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1 Videos

  • Closing Entries

Supplemental: A Conceptual Understanding

    • 4 Videos
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4 Videos

  • The Statement of Cash Flows: A Conceptual Understanding
  • TGS Year 1: Using the Direct Method to Prepare the Statement of Cash Flows
  • TGS Year 1: Using the Indirect Method to Prepare the Statement of Cash Flows
  • The Direct and Indirect Methods: A Summary

Week 4 Assessments

    • 1 Discussion
    • 2 Assignment
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2 Assignment

  • Week 4 Practice Quiz
  • Week 4 Graded Quiz

1 Discussions

  • Discuss Interesting and/or Challenging Items

TGS Year 2: Additional Practice Recording Transactions

    • 5 Videos
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5 Videos

  • Introduction to TGS Year 2
  • TGS Year 2: Transactions 1-7
  • TGS Year 2: Transactions 8-11
  • TGS Year 2: Transactions 12-16
  • TGS Year 2: Transactions 17-22

The Income Statement and Balance Sheet for TGS Year 2

    • 1 Videos
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1 Videos

  • TGS Year 2: The Financial Statements

The Statement of Cash Flows for TGS Year 2

    • 4 Videos
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4 Videos

  • TGS Year 2: Preparing the Operating Activities Section of the Statement of Cash Flows
  • TGS Year 2: Preparing the Investing Activities Section of the Statement of Cash Flows
  • TGS Year 2: Preparing the Financing Activities Section of the Statement of Cash Flows
  • TGS Year 2: Revisiting the Financial Statement Framework

Analysis of Financial Statements

    • 3 Videos
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3 Videos

  • Analysis of the Income Statement
  • Analysis of the Statement of Cash Flows
  • Analysis of the Balance Sheet and a Summary

An Annual Report

    • 2 Videos
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2 Videos

  • PepsiCo's Annual Report
  • PepsiCo's 10-K

Week 5 Assessments and Conclusion of the Course

    • 1 Videos
    • 1 Discussion
    • 2 Assignment
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2 Assignment

  • Week 5 Practice Quiz
  • Week 5 Graded Quiz

1 Discussions

  • Mission Accomplished?

1 Videos

  • Conclusion of the Course

Auto Summary

Discover the essentials of financial accounting with "Financial Accounting Fundamentals," a foundational course from the University of Virginia's Darden School of Business. Taught by top-ranked faculty, this course uses concise videos, real business financial records, and interactive activities to help you master the Balance Sheet, Income Statement, and Statement of Cash Flows. Learn to record transactions, prepare and analyze financial statements, and assess a company's financial health. Available through Coursera with various subscription options, this course is perfect for beginners in Business & Management.

Luann J. Lynch
Instructor

Luann J. Lynch