Accounting Analysis II: Measurement and Disclosure of Liabilities from Coursera

This course focuses on the recognition, measurement and subsequent accounting for various types of liabilities. The content includes:

- Current liabilities and contingencies, such as accounts payable, accrued expenses, warranties, and pending litigation

- Accounting for long-term debt, including the issuance, payment of interest, amortization, and extinguishment of debt instruments.

- Lease accounting from the perspective of both the lessee and the lessor

- Pension accounting, including the calculation of benefit obligations, plan assets, and net periodic benefit cost

We will discuss the relevant accounting standards and principles used to measure and disclose these items in the financial statements. This course is the third course in the Financial Reporting Specialization offered by the University of Illinois at Urbana-Champaign.

What's inside

Syllabus

About the Course

In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

Module 1: Current Liabilities and Contingencies

In this module, you will be introduced to the concepts of current liabilities and contingencies. You will learn how to classify liabilities as current or long-term, including consideration of refinancing arrangements. The module also describes the criteria for recognizing and/or disclosing contingencies.

Module 2: Long-Term Debt Part 1

In this module, you will be introduced to the concept of long-term debt. You will learn about the different types of bonds and how each type results in different accounting, including bonds sold at a premium or discount. The module also explains the recognition of interest and bond extinguishment.

Module 3: Long-Term Debt Part 2

In this module, long-term debt will be discussed in more detail. Students will learn how to account for other aspects of bond accounting, including bond issue costs, fair value accounting, convertible debt, troubled debt restructuring, issuances between interest dates, and differences between U.S. GAAP and IFRS.

Module 4: Lease Accounting Part 1

In this module, you will be introduced to the most recent lease accounting standards issued by the Financial Accounting Standards Board (FASB). Starting with the definition of a lease, this module will discuss features of the model related to both lessors and lessees. It will also illustrate the classification of leases, initial recognition, and subsequent measurement.

Module 5: Lease Accounting Part 2

In this module, we continue the discussion of the lease accounting model. You will learn how to account for leased asset purchase options, leased asset residual values, sale leaseback accounting, and the differences between U.S. GAAP and IFRS when accounting for leases.

Module 6: Pension Accounting Part 1

In this module, you will be introduced to accounting for pension benefits. We will explore the basic features of accounting for defined benefit plans, including benefit obligations, plan assets, and the components of net periodic benefit cost.

Module 7: Pension Accounting Part 2

In this module, you will continue your study of accounting for employee retirement benefits. We will learn how to account for plan amendments and the recognition of pension gains and losses. We will also discuss a comprehensive recognition of pension activities. The module will conclude with a discussion of the major differences between U.S. GAAP and IFRS with respect to pension accounting.

Module 8: Course Evaluation

This module is for you to tell us what you think of the course.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for learners with little to no accounting knowledge who want to develop the skills needed to analyze and interpret liabilities in the context of financial reporting

Covers the latest accounting standards for lease accounting, IFRS, and U.S. GAAP

Taught by Scott Mendoza, recognized for their work in accounting and financial reporting

Provides foundational knowledge on liabilities for students pursuing careers in accounting or finance

Develops skills for analyzing and interpreting financial statements that may benefit professionals in auditing, financial planning, and credit analysis

May require prior knowledge of basic accounting principles and concepts

Reviews summary

Helpful accounting course for liabilities

According to students, this course in Accounting Analysis II: Measurement and Disclosure of Liabilities is well received due to its engaging assignments and easy to comprehend lectures by Adel Ibrahim. The course is regarded as challenging but helpful in improving learners' understanding of accounting concepts related to liabilities.

Assignments are relevant and help reinforce learning.

"achieveable"

"it is excellent"

Content is well-structured and includes real-world examples.

"The course contents were extremely good."

"Challenging course covering real-world scenarios"

"Excellent Depth of course content."

Course can be challenging but manageable with effort.

"This course has been challenging for me but the videos ,and notes plus my dedication helped me to complete it."

"This course is too hard for me. I will review it after I learn a book."

"Challenging course covering real-world scenarios"

Instructor is knowledgeable and articulate.

"Prof. Adel Ibrahim .. his explaining was perfect and every video with example. it made the course very easy to understand it"

"The professor was excellent. The lectures were straight forward and the examples made the subject clear to understand."

"The course Professor Adel Ibrahim was excellent. He presented the course content in a very thorough and understandable manner with examples."

Some subtitles and questions may contain errors.

"Coursera ppts had a lot of errors"

"some of the english subtitles of the course, and a few questions have apparent mistakes"

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 Accounting Analysis II: Measurement and Disclosure of Liabilities with these activities:

Review Intermediate Accounting Concepts

Show steps

Reviewing intermediate accounting concepts provides a solid foundation for understanding the advanced topics covered in the course.

Browse courses on Current Liabilities

Show steps

Review textbooks or notes from previous intermediate accounting courses.
Focus on the key concepts related to the course topics.
Work through practice problems to reinforce your understanding.

Join a Study Group

Show steps

Joining a study group provides opportunities to discuss concepts, share perspectives, and work through problems collaboratively.

Browse courses on Current Liabilities

Show steps

Find a study group or form one with classmates.
Meet regularly to discuss course material and work on assignments.
Share resources, ask questions, and support each other.

Watch YouTube Explainer Videos

Show steps

Watching explainer videos can help to clarify concepts and provide additional perspectives.

Browse courses on Current Liabilities

Show steps

Search for YouTube videos on the specific topic you are studying.
Watch the video and take notes on the key points.
Review your notes and summarize the main concepts.

Five other activities

Expand to see all activities and additional details

Show all eight activities

Work through Practice Exercises in Textbook

Show steps

Practice exercises help to reinforce concepts and improve problem-solving ability.

Browse courses on Current Liabilities

Show steps

Read the textbook chapter related to the topic.
Attempt the practice exercises at the end of the chapter.
Compare your answers to the provided solutions.
Review any concepts that you struggled with.

Develop a Mind Map

Show steps

Creating a mind map helps to organize and visualize the relationships between concepts, improving comprehension.

Browse courses on Current Liabilities

Show steps

Start with a central concept or topic.
Draw branches for related concepts and subtopics.
Continue adding branches and subtopics, connecting them with lines or arrows.

Review FASB Codification

Show steps

Reviewing the FASB Codification provides a deeper understanding of the accounting standards related to the course topics.

Show steps

Identify the relevant sections of the FASB Codification for the topic you are studying.
Read and analyze the relevant sections.
Summarize the key requirements and concepts.

Create Financial Statements for a Fictional Company

Show steps

Creating financial statements helps to apply the accounting concepts and improve financial reporting skills.

Browse courses on Current Liabilities

Show steps

Choose a fictional company and gather financial data.
Identify the applicable accounting standards.
Prepare the financial statements (balance sheet, income statement, cash flow statement).
Analyze the financial statements and write a brief report.

Contribute to an Accounting Open Source Project

Show steps

Contributing to an open source project provides hands-on experience with accounting software and contributes to the wider community.

Browse courses on Current Liabilities

Show steps

Identify an open source accounting project that interests you.
Review the project's documentation and codebase.
Identify an area where you can contribute.
Submit your code changes and documentation updates.

Career center

Learners who complete Accounting Analysis II: Measurement and Disclosure of Liabilities will develop knowledge and skills that may be useful to these careers:

Chief Financial Officer (CFO)

CFOs oversee the financial operations of organizations. A thorough understanding of the accounting principles related to liabilities taught in this course is paramount for providing accurate financial reporting, ensuring compliance, and making strategic financial decisions.

See salaries and explore the career path for Chief Financial Officer (CFO)

Forensic Auditor

Forensic auditors investigate financial fraud and irregularities. This course equips students with the specialized knowledge of liability accounting principles and measurement techniques essential for detecting and analyzing financial misstatements.

See salaries and explore the career path for Forensic Auditor

Risk Manager

Risk managers identify and mitigate financial risks for organizations. This course provides the foundational knowledge of liability accounting principles necessary for evaluating financial risks, developing mitigation strategies, and ensuring compliance with regulatory requirements.

See salaries and explore the career path for Risk Manager

Bankruptcy Attorney

Bankruptcy attorneys handle legal matters related to insolvent companies. A deep understanding of accounting principles, including those relating to liabilities, is essential for navigating the complexities of bankruptcy proceedings and representing clients effectively.

See salaries and explore the career path for Bankruptcy Attorney

Investment Banker

Investment bankers analyze a company's liabilities to measure its financial leverage and solvency. A comprehensive understanding of liability measurement and disclosure is pivotal for developing sound financial advice and executing successful transactions.

See salaries and explore the career path for Investment Banker

Loan Officer

Loan officers rely on reliable financial statements to make crucial lending decisions. In-depth knowledge of the accounting principles behind liabilities covered in this course gives loan officers a competitive advantage when assessing business risk and determining creditworthiness.

See salaries and explore the career path for Loan Officer

Credit Analyst

Credit analysts evaluate a borrower's ability to repay debt. The accounting principles covered in this course are fundamental to assessing the risk associated with various types of liabilities, enabling credit analysts to make informed lending decisions.

See salaries and explore the career path for Credit Analyst

Actuary

Actuaries need to have a firm understanding of accounting standards and regulations. Pension accounting, as taught in this curriculum, is particularly relevant to their daily job responsibilities.

See salaries and explore the career path for Actuary

Auditor

Auditors must know accounting principles, and this course teaches students all the accounting principles relevant to liabilities. This course may be useful not only to those wanting to enter this field, but also to those who want to advance as effective Auditors.

See salaries and explore the career path for Auditor

Tax Accountant

Tax Accountants must know accounting principles, and this course covers all the accounting principles most relevant to tax accounting.

See salaries and explore the career path for Tax Accountant

Financial Analyst

Financial Analysts must know accounting principles, and this course teaches students all the accounting principles relevant to liabilities. This course may be useful not only to those wanting to enter this field, but also to those who want to advance as effective Financial Analysts.

See salaries and explore the career path for Financial Analyst

Forensic Accountant

Forensic Accountants need to be able to examine and interpret accounting records, and this course covers all the accounting principles related to liabilities that Forensic Accountants need to be familiar with.

See salaries and explore the career path for Forensic Accountant

Management Accountant

Management Accountants must know accounting principles, and this course covers all the accounting principles relevant to liabilities that they need to know.

See salaries and explore the career path for Management Accountant

Public Accountant

Public Accountants need to know accounting principles, and this course covers principles relevant to liabilities. This may be helpful for entry-level Public Accountants.

See salaries and explore the career path for Public Accountant

Controller

Controllers need to understand accounting principles, and this course covers those relevant to a company's liabilities. This may be helpful for pursuing entry-level Controller roles.

See salaries and explore the career path for Controller