Pre-MBA Quantitative Skills: Accounting from Coursera

Financial statements are a key source of information about the economic activities of a firm. This course is a primer on the construction and basic interpretation of financial statements that should provide learners with a rudimentary understanding of the types of information included in the four primary financial statements: balance sheet, income statement, cash flow statement, and statement of stockholders equity. We will spend time recording transactions using accounting terminology and then building financial statements from those transactions to provide you with an understanding of how and why transactions influence the various financial statements. We will focus on the language of accounting including such terms as the accounting equation, debits and credits, T-accounts, journal entries, accruals versus cash flows, and more.

By the end of the course learners will be able to understand the basic differences and similarities of the four financial statements, and will have developed a solid foundation to build upon in an introductory financial accounting course at the MBA level. It is ideally suited for those learners that have never taken a financial accounting course before, as well as for those students who would like to refresh their understanding of basic financial accounting concepts.

What's inside

Syllabus

Welcome to the Course

Hi and welcome to the course! In this segment, you'll be introduced to what this course is all about, what we'll cover, some policies, what you can expect, and a little bit about myself.

Week 1

In this section I'll give you a bit of an introduction into accounting as a practice, we'll look into the accounting cycle, the accounting equation, balance sheet, and income statement transactions analysis.

Week 2

Are you in love with accounting yet? Well maybe discussing double entry accounting, debits and credits, journal entries, and T-accounts will sell you.

Week 3

This week we'll be discussing cash-money! More specifically, we'll be looking at cash flow statements and accruals versus cash flows.

Week 4

You've made it to the final segment! To wrap things up, we'll be discussing statement of stockholders' equity and we'll also be interpreting financial statement information.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Beginners will gain insights into essential accounting principles that will serve as a solid foundation for advanced studies

Students with little to no background in accounting can start here to grasp the language and practices of accounting

Students will develop a comprehensive understanding of financial statements and their role in business operations

This course may be of value to those seeking to refresh their knowledge of financial accounting principles

Learners may need to familiarize themselves with accounting software for practical application of concepts

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Pre-MBA Quantitative Skills: Accounting with these activities:

Review Prior Accounting Coursework

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Refresh your memory on key accounting concepts and principles covered in previous coursework or studies to strengthen your foundation for this course.

Browse courses on Accounting Principles

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Review your old notes, textbooks, or study materials
Rework practice problems or review online resources to reinforce your understanding

Review 'Financial Accounting: Tools for Decision Making'

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Reinforce and supplement your understanding of financial accounting concepts by reviewing this foundational textbook.

View Financial Accounting: Tools for Business... on Amazon

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Obtain a copy of the book
Review key chapters related to financial statement construction and interpretation
Complete practice problems and exercises as necessary

Volunteer at a Non-Profit Organization

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Gain practical experience in accounting and finance by volunteering at a non-profit organization, where you can assist with basic accounting tasks.

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Research local non-profit organizations
Contact organizations to inquire about volunteer opportunities
Offer your services in areas such as data entry, bookkeeping, or financial reporting

Four other activities

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Review Essential Accounting Concepts

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Lay a solid foundation by reviewing essential accounting principles, terminology, and concepts before diving into the course materials.

Browse courses on Accounting Concepts

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Explore online accounting courses or tutorials
Review basic accounting equations and principles
Familiarize yourself with key accounting terms and definitions

Practice Financial Statement Analysis

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Sharpen your ability to analyze and interpret financial statements by working through practice problems and exercises.

Browse courses on Financial Statement Analysis

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Find online practice questions or exercises
Analyze and interpret balance sheets, income statements, and other financial statements
Compare and contrast financial performance of different companies

Participate in an Accounting Case Competition

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Challenge yourself and test your accounting skills by participating in an accounting case competition, where you will analyze real-world financial data and present your findings.

Browse courses on Business Case Analysis

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Identify and register for an accounting case competition
Analyze the provided case study and prepare your solution
Present your findings to a panel of judges

Create a Financial Statement Simulation

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Build a deeper understanding of how financial statements interact by creating a simulation that tracks transactions and generates financial statements.

Browse courses on Financial Modeling

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Design a scenario for your simulation
Create a spreadsheet or accounting software model
Record transactions and track financial data
Generate and analyze simulated financial statements

Career center

Learners who complete Pre-MBA Quantitative Skills: Accounting will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts study financial markets and make recommendations on investment decisions. They do this by studying financial statements to understand a company's underlying fundamentals. Taking this course would help you gain a strong foundation in financial statements which could be highly valuable in this role.

See salaries and explore the career path for Financial Analyst

Accountant

Accountants can perform a variety of duties that include preparing and examining financial records, ensuring that financial information is accurate, and creating reports. Understanding how to construct and interpret financial statements, as taught in this course, is one of the core requirements for Accountants. Thus, by taking this course, you'd be getting a step ahead and preparing to succeed in this role.

See salaries and explore the career path for Accountant

Staff Accountant

Staff Accountants perform a variety of accounting tasks, including preparing financial statements, maintaining accounting records, and completing tax returns. Understanding how to construct and interpret financial statements, foundational knowledge that this course provides, is required to be a Staff Accountant.

See salaries and explore the career path for Staff Accountant

Forensic Accountant

Forensic Accountants investigate financial crimes and other incidents of fraud. Understanding how to analyze financial statements would seem to be very valuable for a career as a Forensic Accountant. This course could be a good way to build that foundational understanding.

See salaries and explore the career path for Forensic Accountant

Internal Auditor

Internal Auditors evaluate a company's internal controls to help ensure that they are operating efficiently and effectively. A core part of this job is reviewing financial statements and understanding how they are constructed. This course could be very helpful if you are interested in a career as an Internal Auditor.

See salaries and explore the career path for Internal Auditor

Risk Analyst

Risk Analysts evaluate and mitigate risks for their organizations. One type of risk that they may evaluate is financial risk, so an understanding of financial statements can be very helpful. This course could be very useful if you are interested in becoming a Risk Analyst.

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Accounting Associate

An Accounting Associate works under an Accountant to complete a variety of accounting duties. These often include recording and categorizing transactions, preparing account reconciliations, and assisting in the preparation of financial statements. This course could be highly advantageous to someone who wants to become an Accounting Associate by providing foundational knowledge in financial statements, accounting terminology, and transactions that could accelerate learning and improve performance later on the job.

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Compliance Analyst

Compliance Analysts ensure that their organization's practices adhere to relevant laws and regulations. Being able to interpret financial statements, a key skill that this course helps to build, is a valuable ability for Compliance Analysts to have.

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Auditor

Auditors review financial records and processes to ensure their accuracy and compliance with regulations. A basic understanding of financial accounting and financial statements is essential for this role, which this course can help you acquire. This course covers those topics in depth, and so could be quite helpful for you.

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Loan Officer

Loan Officers assess the creditworthiness of potential borrowers and decide whether or not to approve loans. They often need to be able to understand financial statements. This course can provide a strong foundation in this area which could help you to excel as a Loan Officer.

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Management Consultant

Management Consultants help organizations improve their performance. Many industries require an ability to understand financial statements to be an effective Management Consultant. This course may be useful for you if you are interested in pursuing a career as a Management Consultant.

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Cost Accountant

Cost Accountants analyze and report on the costs associated with producing goods or services. They typically need to understand financial statements and accounting fundamentals to succeed in their role. This course may be useful for you if you are interested in a career as a Cost Accountant.

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Operations Analyst

Operations Analysts analyze data to help businesses improve their efficiency. Many Operations Analysts make use of financial data so, while not required, understanding how to read and understand financial statements could be helpful for success as an Operations Analyst. This course may be useful if you are interested in a career as an Operations Analyst.

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Tax Accountant

Tax Accountants prepare tax returns and advise clients on tax matters. A basic understanding of financial statements is often required for these roles. While this course may not sufficiently prepare you to become a Tax Accountant, it can help get you started by building the essential foundational knowledge.

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Budget Analyst

Budget Analysts help organizations create and manage their budgets by analyzing financial data and making recommendations. While this course will not directly prepare you to become a Budget Analyst, understanding how financial statements are put together, which is covered in this course, can be helpful for this role.

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