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.
ofrecido por


Acerca de este Curso
Habilidades que obtendrás
- Financial Accounting
- Accounting
- Accrual
- Financial Statement
ofrecido por

Universidad de Illinois en Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
Comienza a trabajar para obtener tu maestría
Programa - Qué aprenderás en este curso
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Module 1: Introduction to Financial Accounting
Accounting is the language of business. Managers communicate the results of operations within a firm through accounting to various financial information users including investors and creditors. In this module, you will explore various users of accounting information and the main financial statements they use to acquire accounting information. You will develop an understanding of the particular type of information provided by each financial statement and how financial statements are related to each other.
Module 2: Recording Transactions and Financial Statement Preparation
The starting point of financial statements is individual financial transactions. In this module, you will learn how to code financial transactions in accounting language and how to build main financial statements from these coded financial transactions. This bottom-up approach will help you appreciate the impact of various financial transactions on main financial statements.
Module 3: Fundamental Accounting Concepts and Revenue Recognition
Fundamental accounting concepts and revenue recognition principles are at the heart of coding financial transactions in accounting language as well as preparation of financial statements from these coded financial transactions. Real life transactions are reflected in financial statements through the lens of these concepts and principles. A good understanding of these concepts and principles will help you understand the type and the nature of information you can learn from financial statements.
Module 4: Short-Term Assets
One of the major components of a balance sheet is short-term assets, which are assets that can be converted into cash within a year. Accounts receivables and inventories constitute a major part of short-term assets. Understanding accounting for these accounts will help you uncover how these accounts change over time, their valuation, and their usefulness in managerial decision making.
Reseñas
- 5 stars78,84 %
- 4 stars17,46 %
- 3 stars2,38 %
- 2 stars0,71 %
- 1 star0,59 %
Principales reseñas sobre FINANCIAL ACCOUNTING: FOUNDATIONS
The instructor is very knowledgeable. He explains very well, clear and keep repeating the questions and answers, making sure students learn by repetition. Very good in depth course.
The modules were extremely informative and nothing less to say, Oktay sir's presentations were very easy to understand even for a person like me who has no prior knowledge about Financial Accounting.
Thank you Professor Oktay Urcan! I found this course very useful as it provided lots of real cases of Financial Statements for us to work on. Highly recommended this course.
Though I have been through Intro Accounting some 3 or 4 times through different classes and seminars, I still found myself learning from this detailed and straight forward presentation of information.
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