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Jack Farmer
This course begins with an explanation of the role of adjustments in accrual accounting and covers the difference between explicit and implicit transactions. We’ll look at the components of a Classified Balance Sheet and learn how to prepare a Classified Balance Sheet as well as a Multiple-step Income Statements.
This course also looks at revenue recording and revenue measurement issues and teaches how to estimate bad debts using the allowance method.
Read more
This course begins with an explanation of the role of adjustments in accrual accounting and covers the difference between explicit and implicit transactions. We’ll look at the components of a Classified Balance Sheet and learn how to prepare a Classified Balance Sheet as well as a Multiple-step Income Statements.
This course also looks at revenue recording and revenue measurement issues and teaches how to estimate bad debts using the allowance method.
Read more
This course begins with an explanation of the role of adjustments in accrual accounting and covers the difference between explicit and implicit transactions. We’ll look at the components of a Classified Balance Sheet and learn how to prepare a Classified Balance Sheet as well as a Multiple-step Income Statements.
This course also looks at revenue recording and revenue measurement issues and teaches how to estimate bad debts using the allowance method.
We’ll wrap up the course with a look at the concept of the statement of cash flows and learn how to distinguish among Cash flow from Operations, Financing and Investing.
This course is part 2 of the New York Institute of Finance’s Financial Accounting Professional Certificate.
Register for this course and see more details by visiting:
OpenCourser.com/course/ko561h/reporting
What's inside
Learning objectives
- Accrual accounting & statement format
- Accounting for sales
- Cash flow
- Accrual accounting & statement format
- Accounting for sales
- Cash flow
Syllabus
Mod 01: Accrual Accounting & Statement Format
Mod 02: Accounting for Sales
Mod 03: Cash Flow
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
For students in a finance certification program
Instructors are recognized in the field
Provides strong foundation for beginners
Clear course requirements
Builds a strong foundation for accounting principles
Helps prepare learners for accounting roles
Save this course
Save Reporting Firm Resources, Obligations and Performance to your list so you can find it easily later:
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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 Reporting Firm Resources, Obligations and Performance with these
activities:
Review your accounting concepts and the basics of accrual accounting
Show steps
Reviewing your accounting concepts will prepare you for the advanced topics covered in this course.
Browse courses on
Accrual Accounting
Show steps
-
Read through your old notes on accounting concepts
-
Revisit the basics of accrual accounting
Practice recording revenue and expenses using the accrual accounting method
Show steps
Accrual accounting underpins this course; practicing revenue and expense recognition using this method will provide a solid foundation for advanced topics.
Browse courses on
Revenue Recognition
Show steps
-
Set up a mock company and record transactions
-
Prepare financial statements using the accrual accounting method
Learn how to prepare a classified balance sheet and a multiple-step income statement
Show steps
This course heavily relies on the creation of financial statements; learning how to create these statements is key to doing well.
Show steps
-
Find tutorials on preparing classified balance sheets
-
Find tutorials on preparing multiple-step income statements
Two other activities
Expand to see all activities and additional details
Show all five activities
Estimate bad debts using the allowance method
Show steps
This will strengthen your ability to appropriately recognize revenue in the context of bad debt.
Show steps
-
Review the basics of the allowance method
-
Estimate bad debts using the provided data
Prepare a presentation on the statement of cash flows
Show steps
This course includes an in-depth look at the statement of cash flows; practicing with this deliverable will make the topic more concrete and ensure retention.
Browse courses on
Statement of Cash Flows
Show steps
-
Research the statement of cash flows
-
Gather data and prepare a cash flow statement
-
Create a presentation on your findings
Review your accounting concepts and the basics of accrual accounting
Show steps
Reviewing your accounting concepts will prepare you for the advanced topics covered in this course.
Browse courses on
Accrual Accounting
Show steps
Show steps
Show steps
- Read through your old notes on accounting concepts
- Revisit the basics of accrual accounting
Practice recording revenue and expenses using the accrual accounting method
Show steps
Accrual accounting underpins this course; practicing revenue and expense recognition using this method will provide a solid foundation for advanced topics.
Browse courses on
Revenue Recognition
Show steps
Show steps
Show steps
- Set up a mock company and record transactions
- Prepare financial statements using the accrual accounting method
Learn how to prepare a classified balance sheet and a multiple-step income statement
Show steps
This course heavily relies on the creation of financial statements; learning how to create these statements is key to doing well.
Show steps
Show steps
Show steps
- Find tutorials on preparing classified balance sheets
- Find tutorials on preparing multiple-step income statements
Two other activities
Expand to see all activities and additional details
Show all five activities
Estimate bad debts using the allowance method
Show steps
This will strengthen your ability to appropriately recognize revenue in the context of bad debt.
Show steps
Show steps
Show steps
- Review the basics of the allowance method
- Estimate bad debts using the provided data
Prepare a presentation on the statement of cash flows
Show steps
This course includes an in-depth look at the statement of cash flows; practicing with this deliverable will make the topic more concrete and ensure retention.
Browse courses on
Statement of Cash Flows
Show steps
Show steps
Show steps
- Research the statement of cash flows
- Gather data and prepare a cash flow statement
- Create a presentation on your findings
Career center
Learners who complete Reporting Firm Resources, Obligations and Performance will develop knowledge and skills
that may be useful to these careers:
Financial Analyst
Financial Analyst
Financial analysts provide recommendations to their clients on which stocks and bonds to buy and sell. They help businesses make investment decisions. This course may help prepare you to understand and analyze financial information, considering both its qualitative and quantitative aspects.
Auditor
Auditor
Auditors review the financial records of companies and organizations to ensure that they are accurate, complete, and compliant with regulations. This course would be helpful to prepare for the many facets of this job, including the need to understand how financial transactions are recorded and reported, to interpret financial information, and to apply auditing procedures in accordance with professional standards.
Tax Accountant
Tax Accountant
Tax accountants analyze tax laws and regulations to help businesses and individuals minimize their tax liability. This course would be helpful to prepare you to understand complex tax codes and regulations and how they are applied to various transactions.
Chief Financial Officer
Chief Financial Officer
Chief financial officers (CFOs) are responsible for overseeing the financial operations of companies and organizations. They make critical decisions about how to allocate resources, manage risk, and grow the business. This course may help prepare you to understand and analyze financial information, which is essential for making sound financial decisions.
Bookkeeper
Bookkeeper
Bookkeepers maintain financial records, including recording transactions, preparing reports, and processing payroll. This course would be helpful to prepare you to understand the basics of accounting, including how to record and categorize transactions, and how to prepare basic financial statements.
Financial Planner
Financial Planner
Financial planners help individuals and families manage their finances and plan for the future. This course may help prepare you to understand the financial planning process, including how to assess clients' needs, develop financial plans, and recommend investment strategies.
Investment Banker
Investment Banker
Investment bankers provide financial advice to companies and governments. They help companies raise capital and advise on mergers and acquisitions. This course may help prepare you to understand financial markets and the different types of investment banking transactions.
Budget Analyst
Budget Analyst
Budget analysts develop and manage budgets for companies and organizations. They analyze financial data and make recommendations on how to allocate resources. This course would be helpful to prepare you to understand budgeting principles and how to develop and manage a budget.
Cost Accountant
Cost Accountant
Cost accountants analyze the costs of products and services. They help businesses improve their efficiency and profitability. This course would be helpful to prepare you to understand costing principles and how to analyze and interpret cost data.
Financial Controller
Financial Controller
Financial controllers are responsible for the day-to-day financial operations of companies and organizations. They oversee budgeting, accounting, and financial reporting. This course may help prepare you to understand the different aspects of financial management, including budgeting, accounting, and financial reporting.
Forensic Accountant
Forensic Accountant
Forensic accountants investigate financial crimes, such as fraud and embezzlement. They also help businesses prevent financial crimes from occurring. This course would be helpful to prepare you to understand the principles of forensic accounting and how to investigate financial crimes.
Management Consultant
Management Consultant
Management consultants help businesses improve their performance. They analyze businesses and recommend changes to improve efficiency and profitability. This course may help prepare you to understand the principles of management consulting and how to analyze businesses.
Operations Analyst
Operations Analyst
Operations analysts analyze the operations of businesses and organizations to improve efficiency and productivity. This course may help prepare you to understand the principles of operations management and how to analyze and improve business processes.
Risk Manager
Risk Manager
Risk managers identify and assess risks to businesses and organizations. They also develop and implement plans to manage these risks. This course may help prepare you to understand the principles of risk management and how to identify, assess, and manage risks.
Business Analyst
Business Analyst
Business analysts analyze the needs of businesses and recommend solutions to improve their performance. This course may help prepare you to understand the principles of business analysis and how to analyze businesses and recommend solutions.
For more career information including salaries, visit:
OpenCourser.com/course/ko561h/reporting
Reading list
We've selected ten books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Reporting Firm Resources, Obligations and Performance.
Highly recommended. provides a unique perspective on financial statement analysis from one of the world's most successful investors.
Save
Highly recommended for additional reading, this book provides a comprehensive overview of financial accounting, with a strong emphasis on the conceptual framework and accounting standards.
Known for its straightforward explanations and focus on conceptual understanding, this textbook serves as an excellent introduction to the field.
Offers a practical approach to financial statement analysis, with a focus on real-world examples and case studies.
Save
Is useful as a deep dive into the topic of financial accounting, building a theoretical foundation for the student. It also provides a comprehensive examination of accounting principles and practices.
Introduces the fundamental principles and mechanics of financial accounting. It covers the preparation of financial statements, including the balance sheet, income statement, and cash flow statement.
Provides a comprehensive overview of intermediate accounting concepts, including financial statement analysis, time value of money, and accounting for leases.
Provides a practical approach to financial accounting, with a focus on how financial information is used by decision makers.
Recommended for students with little to no background in accounting, this book offers a clear and concise introduction to the subject.
Recommended as pre-requisite reading, this book offers a practical guide to accounting and finance for small business owners and managers. It covers all of the basics in a clear and concise manner.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/ko561h/reporting
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Effort
1 to 2 hours per week for 4 weeks
Level
Introductory
Via
edX
Institution
New York Institute of Finance
Instructor
Jack Farmer
Language
English
Transcript
English
This course belongs to a
collection
called
Financial Accounting. It's comprised of six courses:
- Accounting System Structure and Information Management
- Reporting Firm Resources, Obligations and Performance (viewing)
- Reporting Investments, Pensions, and Financial Statement Analysis
- Reporting Liabilities and Owners Capital and Cashflow
- Reporting Use of Firm Resources and Taxation
- Financial Accounting Professional Certificate Examination
Good to know
For students in a finance certification program
Instructors are recognized in the field
Provides strong foundation for beginners
Clear course requirements
Builds a strong foundation for accounting principles
Helps prepare learners for accounting roles
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