About this course: In this course, you will explore advanced topics in financial accounting. You will start your journey with accounting for assets with more than one-year life. You will learn in detail how firms account for fixed assets. You will then move to financing of assets and discuss accounting for liabilities. The course will continue with an in-depth exploration of shareholders’ equity. Finally, you will critically evaluate preparation, components, and analysis of cash flows statement. Upon successful completion of this course, you will be able to: • Account for fixed assets • Understand accounting for liabilities • Evaluate shareholders’ equity section of a balance sheet • Understand preparation and information provided by cash flows statement This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Created by: University of Illinois at Urbana-Champaign
Taught by: Oktay Urcan, Associate Professor of Accountancy
Department of Accountancy, College of Business
| Basic Info | Course 2 of 7 in the Financial Management Specialization |
| Commitment | 4 weeks of study, 4-6 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
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.
1 video, 5 readings, 1 practice quiz
- Video: Meet Professor Urcan
- Reading: Syllabus
- Reading: About the Discussion Forums
- Reading: Glossary
- Practice Quiz: Orientation Quiz
- Reading: Updating Your Profile
- Discussion Prompt: Getting to Know Your Classmates
- Reading: Social Media
Module 1: Long-Term Assets
Long-term assets, assets that can be converted into cash in a time period of more than one year, constitute a large portion of a balance sheet for a lot of public companies. Understanding accounting for long-term assets will help you uncover how these accounts change over time, their valuation, and their usefulness in managerial decision making.
7 videos, 2 readings, 6 practice quizzes
- Reading: Module 1 Overview
- Reading: Module 1 Readings
- Video: M1L1V1: Overview and Asset Recognition Criteria
- Practice Quiz: M1L1 Quiz
- Video: M1L2V1: Fixed Assets
- Practice Quiz: M1L2 Quiz
- Video: M1L3V1: Disposal of Fixed Assets
- Practice Quiz: M1L3 Quiz
- Video: M1L4V1: Gross vs. Net PPE
- Practice Quiz: M1L4 Quiz
- Video: M1L5V1: Accounting for Asset Impairments
- Practice Quiz: M1L5 Quiz
- Video: M1L6V1: Walmart Assets
- Practice Quiz: M1L6 Quiz
- Video: Explore the iMBA! (optional)
Graded: Module 1 Quiz
WEEK 2
Module 2: Liabilities
One of the major sources of financing for many firms is liabilities. Firms routinely finance their operations through various liabilities including accounts payables, bank loans, and bonds. Accounting for liabilities will help you understand how liabilities are created, how they are valued, how they inform about a firm’s liquidity position.
3 videos, 2 readings, 3 practice quizzes
- Reading: Module 2 Overview
- Reading: Module 2 Readings
- Video: M2L1V1: Overview and Liability Recognition Criteria
- Practice Quiz: M2L1V1 Practice Quiz
- Video: M2L2V1: Short-Term Liabilities
- Practice Quiz: M2L2V1 Practice Quiz
- Video: M2L3V1: Long-Term Liabilities
- Practice Quiz: M2L1V3 Practice Quiz
Graded: Module 2 Quiz
WEEK 3
Module 3: Shareholders’ Equity
One of the major sources of financing for many firms is contributions from shareholders. The shareholders’ equity section of a balance sheet shows details of investments of shareholders. Accounting for shareholders’ equity will help you understand the amount of shareholder investment, the number of shares issued in return by the firm for shareholders, the amount of earnings earned by the firm but not distributed to shareholders, and information about the amount of shares repurchased by the firm from the stock market.
4 videos, 2 readings, 4 practice quizzes
- Reading: Module 3 Overview
- Reading: Module 3 Readings
- Video: M3L1V1: Shareholders' Equity: Overview
- Practice Quiz: M3L1V1: Practice Quiz
- Video: M3L2V1: Shareholders' Equity: Equity Issuance and Profitability
- Practice Quiz: M3L2V1: Practice Quiz
- Video: M3L3V1: Shareholders' Equity: Distributions
- Practice Quiz: M3L3V1: Practice Quiz
- Video: M3L4V1: Shareholders' Equity: Earnings per Share
- Practice Quiz: M7L4V1: Practice Quiz
Graded: Module 3 Quiz
WEEK 4
Module 4: Cash Flows Statement
One of the major financial statements is cash flows statement. This statement describes in detail how cash changes for a firm over a certain period. Cash flows statement provides valuable information about liquidity position of a firm, cash consequences of managerial operating and investing decisions, as well as earnings quality of a firm.
2 videos, 2 readings, 2 practice quizzes
- Reading: Module 4 Overview
- Reading: Module 4 Readings
- Video: M4L1V1: Cash Flows Statement: Overview
- Practice Quiz: M4L1V1: Practice Quiz
- Video: M4L2V1: Cash Flows Statement: Preparation
- Practice Quiz: M4L2V1: Practice Quiz
Graded: Module 4: Quiz
Graded: Module 4 Peer Assessment
FAQs
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Coursework
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Creators
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
Pricing
| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Ratings and Reviews
Great Course
Thank you
Quite good summary, but a bit too high-level
good course learnt a lot of finance ; only problem is understanding profs accent
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Great class overall, learned a lot!