About this courseSkip About this course
This course builds on introductory accounting courses by providing you with adeepunderstanding of the conceptual foundations and mechanics of financial reporting and accounting standards. The course focuses on the measurement and reporting of the asset side of the balance sheetsas well as the measurement of revenues and expenses on income statements. The content of the course is particularly important for students seeking careers in accounting and finance,as well as professionals who wantto increase their knowledge of financial accounting.
Before taking this course,you should be familiar with basic accounting terminology, T-accounts, and journal entries. FinancialReportingI will help you become more fluent in accounting and business discussions.
The course places emphasis on firms’ economic transactions and business activities, and the accounting measurements and journal entries we use to measure and report those transactions and activities. You willdevelop professional judgment and critical thinking skills.You willconsider the economics of business activities and events and consider the degree to which financial reports capture the underlying economics.This will enable you toobtain the tools necessary to understand and execute accounting procedures with an increased appreciation of the broader business context in which accounting information is prepared and used in business decisions.
What you'll learnSkip What you'll learn
- Understand thebroadobjectives of financial reporting and with respect to specific transactions
- Howto measure, record,and report important business transactions
- How to prepare and analyze financial statements,includingbalance sheets and income statements
- How to effectively research more complex topic areas in US GAAP using the FASB’s Codification and other resources
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Pursue a Verified Certificate to highlight the knowledge and skills you gain$499 USD
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Who can take this course?
Unfortunately, learners from one or more of the following countries or regions will not be able to register for this course: Iran, Cuba and the Crimea region of Ukraine. While edX has sought licenses from the U.S. Office of Foreign Assets Control (OFAC) to offer our courses to learners in these countries and regions, the licenses we have received are not broad enough to allow us to offer this course in all locations. EdX truly regrets that U.S. sanctions prevent us from offering all of our courses to everyone, no matter where they live.