This course is designed to provide a basic understanding of financial statements with an emphasis on the balance sheet. However, to understand accounting driven financial statements, it is important to recognize that accounting is less about counting and more about measuring. “What is it that is being measured?” Well, as the course unfolds, you will learn about the three measurement questions and how the balance sheet helps to answer the first two of these questions. By touring a real company and interviewing real business people, the course describes the basic content of financial statements in a simple yet relevant context. The goal of the course is to leave a lasting impression about what balance sheet consists of and what it reveals. The next course in the Fundamentals of Accounting Specialization completes the conversation by addressing the remaining measurement question.
Understanding Financial Statements: Company Position
This course is part of Fundamentals of Accounting Specialization
Instructor: Kevin E. Jackson
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There are 5 modules in this course
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.
What's included
1 video5 readings1 assignment1 discussion prompt1 plugin
This module will introduce you to the basics of financial statements by emphasizing the links between accounting, measurement, and financial statements.
What's included
2 videos2 readings3 assignments
This module will explain the basics of the balance sheet, provide a working definition of assets, and give you an overview of assets typically presented on the balance sheet.
What's included
2 videos2 readings3 assignments
This module will introduce you to the concept of liabilities and explain what they are and how they can arise.
What's included
2 videos2 readings3 assignments
This module will build an intuition for what equity represents. It will also explain how the components of the balance sheet relate to one another.
What's included
3 videos3 readings3 assignments1 peer review1 discussion prompt1 plugin
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University of Illinois Urbana-Champaign
University of Illinois Urbana-Champaign
University of Illinois Urbana-Champaign
University of Illinois Urbana-Champaign
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