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!
This course is part of the Fundamentals of Accounting Specialization
Offered By
Fundamentals of Accounting SpecializationUniversity of Illinois at Urbana-ChampaignAbout this Course
Skills you will gain
- Income Statement
- Financial Ratio
- Financial Statement
- Balance Sheet
Offered by
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.
Syllabus - What you will learn from this course
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.
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.
Reviews
- 5 stars76.52%
- 4 stars19.48%
- 3 stars2.98%
- 2 stars0.56%
- 1 star0.42%
TOP REVIEWS FROM UNDERSTANDING FINANCIAL STATEMENTS: COMPANY PERFORMANCE
The course explains in very simple ways the essentials for understanding how companies actually perform, although it would be helpful if they used more examples to explain the ratios.
This course is so good you all should go through this it gives very practical examples and makes all my doubts clear.
A perfectly designed, crisp course, covers basics as well as some really technical terms, perfect for MBA freshers without commerce background. Kudos!
Outstanding course. The instructor does an excellent job of simplifying complex ideas to make your learning and understanding more meaningful and easy to grasp.
About the Fundamentals of Accounting Specialization
Accounting is the “language of business.” Being able to understand this language allows individuals both inside and outside of an organization to join the “conversation” about how the organization is performing and how it can improve future performance. Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the right business decisions.
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