Accounting Analysis I: Measurement and Disclosure of Assets

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Description

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

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About this course: **NOTE: You should complete the Accounting Analysis I: The Role of Accounting as an Information System course or be familiar with the concepts taught there before beginning this course.** This course is the second course in a five-course Financial Reporting Specialization that covers the collection, processing, and communication of accounting information (via financial reports) about economic entities to interested parties (i.e., managers and external stakeholders such as stockholders and creditors). To gain the most relevant knowledge from these courses, learners should have taken a basic accounting course prior to this Specialization (which can be done through Cours…

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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: **NOTE: You should complete the Accounting Analysis I: The Role of Accounting as an Information System course or be familiar with the concepts taught there before beginning this course.** This course is the second course in a five-course Financial Reporting Specialization that covers the collection, processing, and communication of accounting information (via financial reports) about economic entities to interested parties (i.e., managers and external stakeholders such as stockholders and creditors). To gain the most relevant knowledge from these courses, learners should have taken a basic accounting course prior to this Specialization (which can be done through Coursera courses, such as any accounting course from the Fundamentals of Accounting Specialization: https://www.coursera.org/specializations/accounting-fundamentals). This Specialization focuses on accounting concepts, principles and theory with an emphasis on problems that arise in applying these concepts for external reporting purposes. Specific emphasis is placed on measurement of assets, liabilities, equities and income, as well as disclosure of additional information that may assist users understand the financial reports. In this course, we will begin our review of key asset categories underlying the Balance Sheet concepts that were introduced in the previous course. We will begin our trek down the Balance Sheet by reviewing cash and receivables, which are normally the two assets listed first. We will continue our trek down the Balance Sheet by looking at inventory and long-Lived Assets, which are normally two of the largest asset values. We will review the measurement and reporting issues involving Inventories and the corresponding cost of goods sold expense in the Income Statement. In the latter half of this course we will conclude our review of key asset categories by looking at both tangible and intangible long-lived assets that are so vital to the production of goods and services. This will entail discussion of both acquisition and disposition of property, plant and equipment as well as cost allocation. Next, we will discuss possible impairment of these assets as well as the proper treatment of expenditures made after acquisition. Lastly, we will review how to identify and account for Investments. The University of Illinois at Urbana-Champaign, consistently ranked as one of the nation's top three accounting programs, now offers a master’s in accounting at a very affordable tuition rate and is completely online. The iMSA is a full Master of Accountancy program and students graduate with an MS that is highly recognized. Try an open course or two, then apply for admission into the credit-bearing version as you may be eligible to take credit-bearing courses during the application process. If you are missing any prerequisites for the full degree, you can complete Coursera courses to demonstrate readiness and strengthen your application for the iMSA. For more information on this exciting iMSA online program, refer to this link: https://www.coursera.org/university-programs/imsa

Who is this class for: This course is designed to prepare learners who want to enhance their basic knowledge of accounting and be better prepared for higher level accounting positions, take the CPA Exam or just to better understand accounting, the "language of business", for those working outside of this field! Because this sequence is intended to assist you in professional preparation, you will be expected to develop analytical, problem-solving and technical skills used by accounting professionals. Upon completion of the Financial Reporting Specialization, you should have a good understanding of the theoretical and technical aspects of financial reporting methods for assets, liabilities, and stockholders’ equity.

Created by:  University of Illinois at Urbana-Champaign
  • Taught by:  Gregory L. Davis, CPA, CMA, CFM, CCM, Lecturer of Accountancy

    Department of Accountancy, College of Business
Basic Info Course 2 of 5 in the Financial Reporting Specialization Level Intermediate Commitment 8 weeks of study, 6-8 hours/week Language English How To Pass Pass all graded assignments to complete the course. Complete this course to work toward: Financial Reporting Specialization This course is part of the 5-course Financial Reporting Specialization from University of Illinois at Urbana-Champaign Learn More Master of Science in Accounting (iMSA) This course is part of the fully-online 16 eight-week courses degree program Learn More Coursework

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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


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.


4 readings, 1 practice quiz expand


  1. Reading: Syllabus
  2. Reading: About the Discussion Forums
  3. Practice Quiz: Orientation Quiz
  4. Reading: Updating Your Profile
  5. Discussion Prompt: Getting to Know Your Classmates
  6. Reading: Social Media


Module 1: Cash & Accounts Receivable



We will learn about internal controls, including rank reconciliations, as well as restrictions over cash. Next, we will introduce the two approaches to estimating bad debt expense related to accounts receivable. Lastly, we will discuss notes receivable and various methods of financing with receivables.


7 videos, 1 reading, 4 practice quizzes expand


  1. Video: Module 1 Introduction
  2. Reading: Module 1 Readings and Resources
  3. Video: Cash, Internal Controls, and Cash Restrictions/Discounts
  4. Practice Quiz: Lesson 1-1 Knowledge Check
  5. Video: Uncollectable Receivables and Bad Debt Expense Estimation
  6. Practice Quiz: Lesson 1-2 Knowledge Check
  7. Video: Notes Receivable and Receivables Financing and Management
  8. Practice Quiz: Lesson 1-3 Knowledge Check
  9. Video: Bank Reconciliations
  10. Video: Module 1 Wrap-Up
  11. Video: KPMG Interview with Jay Livesay
  12. Practice Quiz: Lesson 1-4 Knowledge Check

Graded: Module 1 Quiz

WEEK 2


Module 2: Inventory - Measurement



We will learn about the types of inventory systems, as well as the costs that should be included in inventory. Next, we will understand the various inventory costing methods, as well as key factors on choice of these methods. Lastly, we will discuss inventory ratio analysis, as well as methods of simplifying LIFO.


5 videos, 1 reading, 3 practice quizzes expand


  1. Video: Module 2 Introduction
  2. Reading: Module 2 Readings and Resources
  3. Video: Types of Inventory Systems & Costs Included in Inventory
  4. Practice Quiz: Lesson 2-1 Knowledge Check
  5. Video: Inventory Costing Methods & Factors Influencing Choice
  6. Practice Quiz: Lesson 2-2 Knowledge Check
  7. Video: Inventory Ratio Analysis & LIFO Inventory Pools
  8. Video: Module 2 Wrap-Up
  9. Practice Quiz: Lesson 2-3 Knowledge Check

Graded: Module 2 Quiz

WEEK 3


Module 3: Inventory - Additional Issues



We will learn about the subsequent measures of inventory such as LCNRV. Next, we will understand the various inventory estimation methods when we are unable to take a physical count. Then, we will discuss the various types of inventory cost flow methods. Lastly, we will discuss how to handle changes in inventory methods as well as inventory errors.


6 videos, 1 reading, 4 practice quizzes expand


  1. Video: Module 3 Introduction
  2. Reading: Module 3 Readings and Resources
  3. Video: Subsequent Measure of Inventory (LCNRV)
  4. Practice Quiz: Lesson 3-1 Knowledge Check
  5. Video: Inventory Estimation Methods
  6. Practice Quiz: Lesson 3-2 Knowledge Check
  7. Video: Cost Flow Methods
  8. Practice Quiz: Lesson 3-3 Knowledge Check
  9. Video: Changes in Inventory Methods & Errors in Inventory
  10. Video: Module 3 Wrap-Up
  11. Practice Quiz: Lesson 3-4 Knowledge Check

Graded: Module 3 Quiz

WEEK 4


Module 4: PP&E - Acquisition & Disposition



We will learn about the types of long-lived assets, as well as the basic costs to be capitalized. Next, we will understand the various complex issues of determining capitalized costs as well as discuss asset dispositions and exchanges. Lastly, we will learn about the costs associated with self-constructed assets.


5 videos, 1 reading, 3 practice quizzes expand


  1. Video: Module 4 Introduction
  2. Reading: Module 4 Readings and Resources
  3. Video: Types of Long-Lived Assets & Costs to Be Capitalized
  4. Practice Quiz: Lesson 4-1 Knowledge Check
  5. Video: Dispositions & Exchanges
  6. Practice Quiz: Lesson 4-2 Knowledge Check
  7. Video: Costs of Self-Constructed Assets
  8. Video: Module 4 Wrap-Up
  9. Practice Quiz: Lesson 4-3 Knowledge Check

Graded: Module 4 Quiz

WEEK 5


Module 5: PP&E - Utilization & Impairment



We will learn about the various cost allocation methods, as well as key factors on the decision makers’ perspective on selecting a depreciation method. Next, we will understand depletion of natural resources and amortization of intangible assets. Lastly, we will discuss how to account for expenditures after asset acquisition.


6 videos, 1 reading, 3 practice quizzes expand


  1. Video: Module 5 Introduction
  2. Reading: Module 5 Readings and Resources
  3. Video: Cost Allocation Methods
  4. Practice Quiz: Lesson 5-1 Knowledge Check
  5. Video: Depletion & Amortization Methods
  6. Practice Quiz: Lesson 5-2 Knowledge Check
  7. Video: Expenditures After Acquisition
  8. Video: Depreciation Expense vs Inventory Costing Methods
  9. Video: Module 5 Wrap-Up
  10. Practice Quiz: Lesson 5-3 Knowledge Check

Graded: Module 5 Quiz
Graded: Berkshire Hathaway Letter Peer-Graded Assignment

WEEK 6


Module 6: Issues of Long-Lived Assets
We will discuss capital budgeting and ratio analysis. Next, we will discuss the various types of intangible assets. Lastly, we will discuss asset impairment and measurement issues.


5 videos, 1 reading, 3 practice quizzes expand


  1. Video: Module 6 Introduction
  2. Reading: Module 6 Readings and Resources
  3. Video: Capital Budgeting & Ratio Analysis
  4. Practice Quiz: Lesson 6-1 Knowledge Check
  5. Video: Intangible Assets & Software Development Costs
  6. Practice Quiz: Lesson 6-2 Knowledge Check
  7. Video: Impairment & Measurement Issues
  8. Video: Module 6 Wrap-Up
  9. Practice Quiz: Lesson 6-3 Knowledge Check

Graded: Module 6 Quiz

WEEK 7


Module 7: Investments



We will learn about the various types of investments based on the level of investor influence. Next, we will understand the accounting for the three types of securities when the investor lacks significant influence. Then, we will determine when the equity method is used for securities where the investor has significant influence. Lastly, we will discuss fair value adjustments for investments.


6 videos, 2 readings, 4 practice quizzes expand


  1. Video: Module 7 Introduction
  2. Reading: Module 7 Readings and Resources
  3. Video: Types of Financial Instruments
  4. Practice Quiz: Lesson 7-1 Knowledge Check
  5. Video: Recording of Securities When the Investor Lacks Significant Influence
  6. Practice Quiz: Lesson 7-2 Knowledge Check
  7. Video: Using the Equity Method When the Investor Has Significant Influence
  8. Practice Quiz: Lesson 7-3 Knowledge Check
  9. Video: Fair Value Adjustments for Investments
  10. Video: Module 7 Wrap-Up
  11. Practice Quiz: Lesson 7-4 Knowledge Check
  12. Reading: Case Study Company Selection

Graded: Module 7 Quiz

WEEK 8


Module 8: Course Wrap-Up & Case Study



You will work on a case study that will serve as a cumulative recap of all of the concepts that you have learned throughout this course. The case study will involve a detailed analysis of a publicly held Fortune 500 company in which you will analyze the Annual Report or 10K Report.


1 video expand


  1. Video: Course Wrap-Up and Case Study Introduction
  2. Discussion Prompt: Final Reflections

Graded: Comprehensive Company Analysis Case Study
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