More Introduction to Financial Accounting from Coursera

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Syllabus

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.

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.

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.

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").

Week 9: Shareholders' Equity

Our final week of new material ends at the bottom of the Balance Sheet: Shareholders' Equity. We will talk about issuing stock, repurchasing stock, Treasury Stock, stock dividends and splits, Accumulated Other Comprehensive Income, and stock-based compensation. We will also finally cover the fourth required financial statement: The Statement of Stockholders' Equity.

Week 10: Financial Statement Analysis

In the videos this week, I go through a systematic financial statement analysis for a company. There is no homework assignment for this material and it will not be explicitly covered on the exam (although some of the concepts are a review of material we have covered previously). Thus, if you don't have time before the final exam, you can enjoy these videos after completing the exam without adversely affecting your performance. The final exam will cover material in weeks 5 through 9. The only thing left to do after this exam is to impress your family, friends, and co-workers with your vast knowledge of Financial Accounting!

Good to know

Know what's good

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Explores accounting principles, which are standard in business and economics

Taught by instructors recognized for their accounting expertise

Develops deep understanding of Balance Sheet, a core concept in accounting

Equips students to analyze company financial statements, a valuable skill in various fields

Covers working capital assets, such as accounts receivable, a crucial aspect in accounting

Provides a comprehensive overview of long-lived assets and marketable securities, important topics in accounting

Reviews summary

Well-received financial accounting course

According to students, More Introduction to Financial Accounting is largely positive with an overall enjoyable experience. Students particularly appreciate the engaging videos and clear explanations by Professor Brian.

Videos are engaging and entertaining.

"Professor Brian's videos were engaging."

"The videos were entertaining and helped me stay interested in the material."

Explanations are very clear.

"Professor Brian's explanations were very clear."

"The explanations were clear and easy to follow."

The course could use more practice problems.

"I wish there were more practice problems."

"The only thing missing is some practice problems."

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 More Introduction to Financial Accounting with these activities:

Read Introduction to Financial Accounting

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Refresh your knowledge of basic accounting concepts to help you understand the material covered in this course.

View Financial Accounting on Amazon

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Acquire a copy of the book.
Read Chapter 1: The Role of Accounting in Business.
Complete the end-of-chapter exercises.
Summarize the key concepts in your own words.

Course Notes and Resources Compilation

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Organize and consolidate course materials for effective review and retention.

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Gather your notes, handouts, and other course materials.
Organize the materials into a logical structure.
Review the materials regularly to reinforce your understanding.

Watch Financial Accounting Videos

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Supplement your learning by watching videos that explain financial accounting concepts.

Browse courses on Accounting

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Find a series of financial accounting videos.
Watch the videos and take notes.
Summarize the key concepts in your own words.
Identify any areas where you need further clarification.
Review the videos or consult other resources to clarify your understanding.

Eight other activities

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Accounting Equation Practice

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Strengthen your understanding of the fundamental accounting equation.

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Solve practice problems involving the accounting equation.
Identify the three components of the accounting equation.
Apply the accounting equation to real-world scenarios.

Financial Accounting: Theory and Practice by Jerry J. Weygandt

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Gain a deeper understanding of financial accounting concepts and practices

View Accounting Principles on Amazon

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Read the assigned chapters relevant to the course material.
Summarize the key concepts and principles discussed in the book.
Identify any areas where you need further clarification or support.

Join a Financial Accounting Study Group

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Collaborate with other students to discuss financial accounting concepts and solve problems.

Browse courses on Accounting

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Find a study group or create your own.
Meet regularly to discuss the course material.
Work together to solve problems.
Quiz each other on key concepts.
Share resources and study tips.

Solve Financial Accounting Problems

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Practice solving financial accounting problems, which will help you apply the concepts you learn in this course.

Browse courses on Accounting

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Find a set of financial accounting problems.
Solve the problems using the concepts you have learned.
Check your answers against the solutions.
Identify your strengths and weaknesses.
Review the concepts you need to improve.

Accounting Study Group

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Collaborate with peers to enhance your understanding of course concepts.

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Form a study group with other students in the course.
Meet regularly to discuss course material, solve problems, and quiz each other.
Provide feedback and support to your peers.

Create a Financial Accounting Glossary

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Create a glossary of financial accounting terms will help you remember the key concepts covered in this course.

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Create a list of financial accounting terms.
Define each term in your own words.
Include examples to illustrate each term.
Organize the glossary alphabetically or by topic.
Review the glossary regularly to reinforce your learning.

Balance Sheet Project

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Practice constructing a Balance Sheet by using real-world financial data.

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Select a publicly traded company and gather its financial statements.
Identify the components of the Balance Sheet.
Classify the company's assets, liabilities, and stockholders' equity into the appropriate categories.
Prepare a Balance Sheet for the company.

Financial Statement Analysis Report

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Develop your ability to analyze and interpret financial statements.

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Select a publicly traded company and gather its financial statements.
Calculate relevant financial ratios and metrics.
Analyze the company's financial performance and position.
Write a report summarizing your findings and insights.

Career center

Learners who complete More Introduction to Financial Accounting will develop knowledge and skills that may be useful to these careers:

Auditor

An auditor examines and verifies the accuracy of financial records. This course can help you build a foundation in financial accounting, which is essential for success in this role. The course covers topics such as reading and understanding financial statements, analyzing financial data, and identifying and assessing financial risks.

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Financial Analyst

A financial analyst researches and evaluates investments. This course can help you develop the skills needed to analyze and interpret financial data, which is essential for success in this role. The course covers topics such as financial statement analysis, valuation techniques, and risk management.

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Financial Manager

A financial manager oversees the financial operations of a company. This course can help you gain the knowledge and skills needed to manage financial resources, make investment decisions, and develop financial plans.

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Budget Analyst

A budget analyst prepares and analyzes budgets. This course can help you develop the skills needed to create and manage budgets, analyze financial data, and make recommendations for financial planning.

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Accountant

An accountant prepares and maintains financial records. This course can help you develop the skills needed to record and report financial transactions, prepare financial statements, and comply with accounting regulations.

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Tax Accountant

A tax accountant prepares and files tax returns. This course can help you develop the skills needed to understand tax laws, prepare tax returns, and advise clients on tax matters.

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Forensic Accountant

A forensic accountant investigates financial crimes. This course can help you develop the skills needed to analyze financial data, identify financial fraud, and testify in court.

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Management Consultant

A management consultant provides advice to businesses on how to improve their operations. This course can help you develop the skills needed to analyze financial data, make recommendations for improvements, and implement change.

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Investment Banker

An investment banker helps companies raise capital. This course can help you develop the skills needed to analyze financial data, value companies, and structure financial transactions.

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Commercial Banker

A commercial banker provides financial services to businesses. This course can help you develop the skills needed to analyze financial data, make lending decisions, and manage customer relationships.

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Financial Planner

A financial planner provides financial advice to individuals and families. This course can help you develop the skills needed to analyze financial data, create financial plans, and recommend investment strategies.

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Insurance Underwriter

An insurance underwriter assesses and manages risk. This course can help you develop the skills needed to analyze financial data, evaluate risk, and determine insurance premiums.

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Actuary

An actuary analyzes and manages financial risks. This course can help you develop the skills needed to analyze financial data, model risk, and develop insurance products.

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Economist

An economist studies the production, distribution, and consumption of goods and services. This course can help you develop the skills needed to analyze financial data, understand economic trends, and make economic forecasts.

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Statistician

A statistician collects, analyzes, and interprets data. This course can help you develop the skills needed to analyze financial data, design statistical studies, and draw conclusions from data.

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