We may earn an affiliate commission when you visit our partners.
Kevin E. Jackson
This course is designed to provide a basic understanding of financial statements with an emphasis on the income statement. Building on the foundation formed in the first course, you will learn about the third of our three measurement questions and how the income statement helps to answer this final measurement question. Returning to the real business people introduced in the first course, this second course describes the basic content of income statement in a simple yet relevant context. The course ends by summarizing many of the lessons learned in both courses to leave you with a lasting impression about what financial statements are and how accounting can work for you. We all know that accounting is “the language of business”; let’s make learning this language engaging, and perhaps even fun!
Read more
This course is designed to provide a basic understanding of financial statements with an emphasis on the income statement. Building on the foundation formed in the first course, you will learn about the third of our three measurement questions and how the income statement helps to answer this final measurement question. Returning to the real business people introduced in the first course, this second course describes the basic content of income statement in a simple yet relevant context. The course ends by summarizing many of the lessons learned in both courses to leave you with a lasting impression about what financial statements are and how accounting can work for you. We all know that accounting is “the language of business”; let’s make learning this language engaging, and perhaps even fun!
Read more
This course is designed to provide a basic understanding of financial statements with an emphasis on the income statement. Building on the foundation formed in the first course, you will learn about the third of our three measurement questions and how the income statement helps to answer this final measurement question. Returning to the real business people introduced in the first course, this second course describes the basic content of income statement in a simple yet relevant context. The course ends by summarizing many of the lessons learned in both courses to leave you with a lasting impression about what financial statements are and how accounting can work for you. We all know that accounting is “the language of business”; let’s make learning this language engaging, and perhaps even fun!
Upon successful completion of this course, you will be able to:
• Describe the purpose of an income statement.
• Define the basic components of an income statement.
• Recognize and understand the meaning of several items typically presented on an income statement.
• Explain the broader purpose of financial statements and the role of accounting in producing the financial statements.
• Read and, to some extent, interpret real-world income statements.
If you enjoy this business course and are interested in an MBA, consider applying to the iMBA, a flexible, fully-accredited online MBA at an incredibly competitive price offered by the University of Illinois. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Register for this course and see more details by visiting:
OpenCourser.com/course/vb4ydq/understanding
Two deals to help you save
We found two deals and offers that may be relevant to this course.
Save money when you learn.
All coupon codes, vouchers, and discounts are applied automatically unless otherwise noted.
What's inside
Syllabus
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.
Read more
Syllabus
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.
Read more
Module 1: How Did You Perform? Introducing the Income Statement
This module introduces you to the primary components of the income statement by focusing on the concepts of revenue and cost of goods sold.
Module 2: Finishing Out the Income Statement and Managing Cash
This module discusses examples of other income and expenses included in a typical income statement and introduces you to the statement of cash flows.
Module 3: Final Elements of Financial Statements
This module highlights common notes to the financial statements and provides insights from an expert.
Module 4: Wrapping Up Financial Statements and What Lies Ahead
This module revisits what the first two courses of the Fundamentals of Accounting Specialization have covered and examines how ratio analyses can help you evaluate a company.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Provides foundational financial accounting knowledge, geared toward students with no background in accounting
Taught by Kevin E. Jackson, an expert in the field of accounting
Leverages real-world examples to provide practical insights into income statement analysis
Suitable for individuals seeking a basic understanding of financial statements, particularly income statements
May require additional coursework or resources for a comprehensive understanding of financial accounting
Save this course
Save Understanding Financial Statements: Company Performance to your list so you can find it easily later:
Save
Save
Reviews summary
Finance fundamentals: company performance analysis
Learners say this course is largely positive with engaging assignments. It delves into financial statements, notably income statements and balance sheets, to teach learners how to evaluate company performance according to its financial performance. The course is easy to grasp, thanks to its clear language and visual aids, and the instructor is praised for their engaging demeanor.
The course is accessible to learners with little to no prior knowledge of finance but may be too basic for those with extensive experience.
"Overall the course was good but my frustration lies in the fact that I am now unable to clear the clutter of these courses from my screen because I only audited the course. Why is this the case?"
"Very easy to follow the course, but I think that you should consider adding more exercises to practice"
"Very informative with simple and understand English use. Easy to access"
The course can be completed at a flexible pace, allowing learners to learn at their own speed.
"Time frame allocated is very generous as one may be able to complete ahead of schedule"
"This assessment is useful and interesting. "
The graded quizzes and peer-graded assignments help to reinforce the material and assess understanding.
"Weekly graded quizzes with 20 questions had a good mix of all the concepts discussed during the week."
"The course was very useful for knowledge enhancement. The subject was taken in depth that too in a simple way. "
"It was a fantastic course whuch taught me how to write a report on a company's performance based on analysis of it's financial statements and also taught me to to do peer review."
The instructor is knowledgeable and presents the material in a clear and engaging way.
"Course leader speaks clearly in pleasant and relaxed manner"
"Very good instructor"
"Kevin continues to deliver the fundamentals in an easy format with some well thought key points."
Rated as excellent by learners.
"Excellent course and very useful. Totally recommended. "
"This course is so good you all should go through this it gives very practical examples and makes all my doubts clear."
"This was great follow up course after the first course "Understanding Financial Statements: Company Position"."
The course covers a good range of topics and provides practical examples that make the concepts easy to understand.
"Subject and content was good and very easy to understand."
"This course gave me very insightful information , from which i was not familiar before. it is very useful for me now and for my future prospect."
"Great course with a lot of fantastic content!"
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 Understanding Financial Statements: Company Performance with these
activities:
Review accounting basics
Show steps
Assess your current knowledge in accounting basics and identify any areas that need further review before the course begins.
Browse courses on
Accounting Basics
Show steps
-
Review notes or textbooks from previous accounting courses.
-
Complete practice problems to test your understanding of basic accounting concepts.
Join a study group
Show steps
Form or join a study group to discuss course materials, share insights, and quiz each other on key concepts, reinforcing your understanding.
Show steps
-
Reach out to classmates or fellow students.
-
Set up regular study sessions to collaborate and delve into course content.
-
Work together to solve problems and clarify concepts.
Practice income statement analysis
Show steps
Regularly practice analyzing income statements to enhance your understanding of how companies generate revenue and manage expenses.
Browse courses on
Income Statement Analysis
Show steps
-
Obtain income statements from real-world companies.
-
Calculate key financial ratios and metrics.
-
Interpret the results and identify trends and patterns.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Explore financial statement analysis tools
Show steps
To expand your knowledge and improve proficiency, explore online tutorials on financial statement analysis tools and techniques.
Show steps
-
Identify online tutorials or courses on financial statement analysis tools.
-
Follow the tutorials attentively and complete any practice exercises.
-
Apply the learned techniques to analyze real-world financial statements.
Summarize key concepts in a blog post
Show steps
Writing blog posts or articles on the key concepts of income statements will help solidify your understanding and improve your grasp of the material.
Show steps
-
Brainstorm the main concepts covered in the course.
-
Write a clear and concise summary of each concept.
-
Proofread the content and ensure it is well-written and easy to understand.
Develop a presentation on income statement analysis
Show steps
Creating a presentation on income statement analysis challenges you to synthesize and communicate your learnings, reinforcing your understanding.
Show steps
-
Choose a specific company or industry.
-
Analyze the company's income statements over several periods.
-
Identify key trends, patterns, and insights.
Participate in financial analysis competitions
Show steps
Participating in financial analysis competitions will test your skills, provide feedback, and push you to delve deeper into the subject matter.
Show steps
-
Identify financial analysis competitions relevant to your interests and skill level.
-
Form a team or work individually on the competition.
-
Analyze financial statements, prepare reports, and present your findings.
Contribute to open-source accounting projects
Show steps
Engaging with open-source projects related to accounting will provide practical experience and deepen your understanding of real-world applications.
Show steps
-
Explore open-source platforms and projects in the field of accounting.
-
Identify areas where you can contribute, such as code development, documentation, or issue tracking.
-
Submit your contributions and actively engage with the project community.
Review accounting basics
Show steps
Assess your current knowledge in accounting basics and identify any areas that need further review before the course begins.
Browse courses on
Accounting Basics
Show steps
Show steps
Show steps
- Review notes or textbooks from previous accounting courses.
- Complete practice problems to test your understanding of basic accounting concepts.
Join a study group
Show steps
Form or join a study group to discuss course materials, share insights, and quiz each other on key concepts, reinforcing your understanding.
Show steps
Show steps
Show steps
- Reach out to classmates or fellow students.
- Set up regular study sessions to collaborate and delve into course content.
- Work together to solve problems and clarify concepts.
Practice income statement analysis
Show steps
Regularly practice analyzing income statements to enhance your understanding of how companies generate revenue and manage expenses.
Browse courses on
Income Statement Analysis
Show steps
Show steps
Show steps
- Obtain income statements from real-world companies.
- Calculate key financial ratios and metrics.
- Interpret the results and identify trends and patterns.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Explore financial statement analysis tools
Show steps
To expand your knowledge and improve proficiency, explore online tutorials on financial statement analysis tools and techniques.
Show steps
Show steps
Show steps
- Identify online tutorials or courses on financial statement analysis tools.
- Follow the tutorials attentively and complete any practice exercises.
- Apply the learned techniques to analyze real-world financial statements.
Summarize key concepts in a blog post
Show steps
Writing blog posts or articles on the key concepts of income statements will help solidify your understanding and improve your grasp of the material.
Show steps
Show steps
Show steps
- Brainstorm the main concepts covered in the course.
- Write a clear and concise summary of each concept.
- Proofread the content and ensure it is well-written and easy to understand.
Develop a presentation on income statement analysis
Show steps
Creating a presentation on income statement analysis challenges you to synthesize and communicate your learnings, reinforcing your understanding.
Show steps
Show steps
Show steps
- Choose a specific company or industry.
- Analyze the company's income statements over several periods.
- Identify key trends, patterns, and insights.
Participate in financial analysis competitions
Show steps
Participating in financial analysis competitions will test your skills, provide feedback, and push you to delve deeper into the subject matter.
Show steps
Show steps
Show steps
- Identify financial analysis competitions relevant to your interests and skill level.
- Form a team or work individually on the competition.
- Analyze financial statements, prepare reports, and present your findings.
Contribute to open-source accounting projects
Show steps
Engaging with open-source projects related to accounting will provide practical experience and deepen your understanding of real-world applications.
Show steps
Show steps
Show steps
- Explore open-source platforms and projects in the field of accounting.
- Identify areas where you can contribute, such as code development, documentation, or issue tracking.
- Submit your contributions and actively engage with the project community.
Career center
Learners who complete Understanding Financial Statements: Company Performance will develop knowledge and skills
that may be useful to these careers:
Financial Analyst
Financial Analyst
Financial Analysts study financial data in order to identify investment opportunities, make recommendations, and evaluate the performance of companies and investments. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the foundation needed to understand how financial statements are used to make investment decisions.
Auditor
Auditor
Auditors examine financial records to ensure that they are accurate and compliant with regulations. They also provide consulting services to help companies improve their financial reporting and internal controls. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to perform audits and provide consulting services.
Accountant
Accountant
Accountants prepare and maintain financial records, prepare tax returns, and provide financial advice to individuals and businesses. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the foundation needed to prepare financial statements and provide financial advice.
Financial Manager
Financial Manager
Financial Managers oversee the financial operations of a company, including budgeting, forecasting, and cash management. They also work with other departments to develop and implement financial strategies. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to manage the financial operations of a company.
Tax Accountant
Tax Accountant
Tax Accountants prepare and file tax returns for individuals and businesses. They also provide tax advice and help clients minimize their tax liability. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the foundation needed to prepare tax returns and provide tax advice.
Budget Analyst
Budget Analyst
Budget Analysts develop and manage budgets for government agencies and businesses. They also provide analysis and recommendations on how to improve efficiency and effectiveness. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to develop and manage budgets.
Management Consultant
Management Consultant
Management Consultants help companies improve their performance by providing advice on strategy, operations, and finance. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to provide consulting services to companies.
Credit Analyst
Credit Analyst
Credit Analysts assess the creditworthiness of borrowers and make recommendations on whether to approve or deny loans. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to analyze financial statements and make credit decisions.
Investment Banker
Investment Banker
Investment Bankers help companies raise capital and advise them on mergers and acquisitions. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to provide investment banking services.
Risk Manager
Risk Manager
Risk Managers identify and assess risks that could affect a company's financial performance. They also develop and implement strategies to mitigate these risks. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to identify and assess risks.
Financial Planner
Financial Planner
Financial Planners help individuals and families achieve their financial goals. They provide advice on investments, retirement planning, and estate planning. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to provide financial planning services.
Forensic Accountant
Forensic Accountant
Forensic Accountants investigate financial fraud and other financial crimes. They also provide expert testimony in court cases. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to investigate financial fraud and provide expert testimony.
Insurance Underwriter
Insurance Underwriter
Insurance Underwriters assess the risk of insuring individuals and businesses. They also determine the premiums that should be charged for insurance policies. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to assess risk and determine premiums.
Statistician
Statistician
Statisticians collect, analyze, and interpret data. They use statistical methods to solve problems and make predictions. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to analyze financial data and make financial predictions.
Economist
Economist
Economists study the economy and make recommendations on economic policy. To be successful in this role, it is important to have a strong understanding of financial statements. This course can help you build the knowledge and skills needed to analyze economic data and make economic forecasts.
For more career information including salaries, visit:
OpenCourser.com/course/vb4ydq/understanding
Reading list
We've selected 37 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
Understanding Financial Statements: Company Performance.
This classic book on financial statement analysis provides insights into the interpretation of financial statements and can be used as a reference for the course.
"Financial Accounting: Reporting, Analysis & Decision Making" focuses on the income statement and how it answers essential measurement questions for accounting and finance.
This classic book on accounting theory provides a historical and philosophical perspective on the topic and can be used as a reference for the course.
Provides a more comprehensive coverage of the topic and can be used as a reference for the course.
Provides a comprehensive overview of financial statement analysis and can be used as a reference for the course.
Save
Offers a detailed analysis of financial reporting and can be used as a reference for the course.
Provides a detailed analysis of financial reporting for public companies and can be used as a reference for the course.
Provides practical guidance on analyzing financial statements, including the income statement, and is valuable for those interested in applying these concepts in the real world.
Save
Provides a theoretical foundation for financial accounting and can be used as a reference for the course.
Provides a comprehensive overview of auditing and assurance services and can be used as a reference for the course.
Provides a comprehensive overview of managerial accounting and can be used as a reference for the course.
Save
Provides a comprehensive overview of cost accounting and can be used as a reference for the course.
Provides a comprehensive overview of International Financial Reporting Standards (IFRS) and can be used as a reference for the course.
Offers insights into Warren Buffett's approach to financial statement analysis, including the income statement, and is particularly relevant for those interested in value investing.
Provides a practical guide to using Microsoft Excel for financial analysis and can be used as a supplementary resource for the course.
"Accounting Principles" provides a more comprehensive overview of accounting principles, including financial accounting and reporting.
Practical guide to reading and understanding financial reports and can be used as a supplementary resource for the course.
Provides a comprehensive guide to financial markets and can be used as a reference for the course.
Offers unique insights into financial accounting analysis from one of the most successful investors of all time and provides numerous case studies and examples to illustrate concepts discussed in the course.
This classic book provides a timeless perspective on how to analyze financial statements. It valuable resource for understanding the basics of financial statement analysis.
Provides valuable insights into investment principles and strategies, complementing the course's focus on financial statement analysis and interpretation.
Covers corporate finance concepts, including the use of financial statements for decision-making, and is valuable for those seeking a broader understanding of financial management.
Focuses on how accounting information is used for decision-making and control. It provides a practical perspective on how financial statements can be used to improve business performance.
Save
Offers a comprehensive overview of financial management, including both theoretical concepts and practical applications, providing a solid foundation for understanding financial statements.
Covers a wide range of accounting topics, including financial reporting and the income statement, and is commonly used as a textbook for undergraduate courses.
Focuses on financial reporting and analysis, including the income statement, and is suitable for those seeking a comprehensive understanding of these concepts.
Provides an overview of forensic accounting and financial statement fraud. It useful resource for those who want to learn more about how to detect and prevent fraud.
Offers a classic approach to security analysis, providing valuable insights into the fundamental principles of evaluating stocks and bonds.
Provides an in-depth examination of financial statement analysis and valuation, including the income statement, and is suitable for advanced learners or practitioners.
Save
Provides a practical and accessible guide to investment principles, complementing the course's focus on financial statement analysis and interpretation.
Provides a practical guide to auditing. It useful resource for those who want to learn more about the auditing process.
Provides a collection of Warren Buffett's writings on investing, corporate governance, and financial analysis, offering valuable insights into the mind of one of the most successful investors of all time.
Save
Provides a managerial perspective on cost accounting. It useful resource for those who want to learn more about how cost accounting can be used to improve business performance.
Provides a practical and accessible guide to financial statement analysis, complementing the course's focus on financial statement analysis and interpretation.
Provides a practical and accessible guide to financial statement analysis, complementing the course's focus on financial statement analysis and interpretation.
Provides a broad overview of managerial accounting. It useful resource for those who want to learn more about how accounting information can be used to make better business decisions.
Provides a practical and accessible guide to financial statement analysis, complementing the course's focus on financial statement analysis and interpretation.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/vb4ydq/understanding
Share
Similar courses
Here are nine courses similar to
Understanding Financial Statements: Company Performance.
Financial Accounting Fundamentals
OpenCourser.com/course/0zlszs/financial
Financial Accounting Fundamentals
Most relevant
Creating Accounting Statements Using Accounting Fundamentals
OpenCourser.com/course/2wcssc/creating
Creating Accounting Statements Using Accounting...
Most relevant
Introduction to Financial Accounting
OpenCourser.com/course/jmyfdq/introduction
Introduction to Financial Accounting
Most relevant
Pre-MBA Quantitative Skills: Accounting
OpenCourser.com/course/c3iv5r/pre
Pre-MBA Quantitative Skills: Accounting
Most relevant
Introduction to Financial Accounting
OpenCourser.com/course/rplgc7/introduction
Introduction to Financial Accounting
Most relevant
Accounting for Decision-Making
OpenCourser.com/course/w1tyf5/accounting
Accounting for Decision-Making
Most relevant
Financial Accounting Made Fun: Eliminating Your Fears
OpenCourser.com/course/kxfljl/financial
Financial Accounting Made Fun: Eliminating Your Fears
Most relevant
Understanding Financial Statements
OpenCourser.com/course/mg1rpw/understanding
Understanding Financial Statements
Most relevant
Introductory Financial Accounting
OpenCourser.com/course/7davk4/introductory
Introductory Financial Accounting
Most relevant
Effort
4 weeks of study, 2-4 hours/week
Level
Introductory
Via
Coursera
Institution
University of Illinois at Urbana-Champaign
Instructor
Kevin E. Jackson
Language
English
Transcripts
Español
Français
Português
Deutsch
Italiano
中文
العربية
한국어
日本語
हिंदी
Nederlands
Svenska
Pусский
Türkçe
Polski
Ελληνικά
українська мова
magyar nyelv
Bahasa Indonesia
ไทย
қазақша
اُردُو,
فارسی
বাংলা
tiếng Việt
پښتو
آذربایجان دیلی
This course belongs to a
collection
called
Fundamentals of Accounting . It's comprised of five courses:
- Fundamentals of Accounting Capstone
- Accounting for Business Decision Making: Strategy Assessment and Control
- Accounting for Business Decision Making: Measurement and Operational Decisions
- Understanding Financial Statements: Company Performance (viewing)
- Understanding Financial Statements: Company Position
Good to know
Provides foundational financial accounting knowledge, geared toward students with no background in accounting
Taught by Kevin E. Jackson, an expert in the field of accounting
Leverages real-world examples to provide practical insights into income statement analysis
Suitable for individuals seeking a basic understanding of financial statements, particularly income statements
May require additional coursework or resources for a comprehensive understanding of financial accounting
Our mission
OpenCourser helps millions of learners each year. People visit us to learn workspace skills, ace their exams, and nurture their curiosity.
Our extensive catalog contains over 50,000 courses and twice as many books. Browse by search, by topic, or even by career interests. We'll match you to the right resources quickly.
Find this site helpful? Tell a friend about us.
Affiliate disclosure
We're supported by our community of learners. When you purchase or subscribe to courses and programs or purchase books, we may earn a commission from our partners.
Your purchases help us maintain our catalog and keep our servers humming without ads.
Thank you for supporting OpenCourser.
© 2016 - 2024 OpenCourser