How to Use a Product Roadmap
September 27, 2024
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This course is part of Financial Reporting Specialization
Instructor: Gerlando Lima
16,252 already enrolled
Included with
(189 reviews)
Recommended experience
Intermediate level
You should complete the Accounting Analysis I: The Role of Accounting as an Information System course or be familiar with the concepts taught there.
(189 reviews)
Recommended experience
Intermediate level
You should complete the Accounting Analysis I: The Role of Accounting as an Information System course or be familiar with the concepts taught there.
Make informed decisions and assessments regarding financial statements and the overall financial health of an organization
Measure and report issues related to inventories long-lived assets and PP&E
Identify and account for debt and equity investments
Determine the appropriate classification measure and disclosure of major asset categories
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**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 debt and equity 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/degrees/imsa
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.
2 videos4 readings1 assignment1 discussion prompt1 plugin
We will learn about internal controls, including bank reconciliations, as well as restrictions over cash. Next, we will introduce the approaches to estimate bad debt expense related to accounts receivable. Lastly, we will discuss notes receivable and various methods of financing with receivables.
7 videos2 readings6 assignments
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 videos2 readings4 assignments
We will learn about the subsequent measures of inventory such as LCNRV and LCM. 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.
7 videos2 readings6 assignments
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 and R&D.
6 videos2 readings5 assignments
We will learn about the various cost allocation methods, as well as key factors on the decision maker's 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, and ratio analysis.
6 videos2 readings5 assignments
We will discuss recognition, measurement, and disclosure of debt investments.
5 videos2 readings4 assignments
We will learn about Equity Investments. Next, we will understand how to recognize, measure, and disclose the two types of Equity Investments. Lastly, we will discuss fair value adjustments for investments.
5 videos2 readings4 assignments
If you would like to earn an Honors badge on your certificate for this course, you must complete a peer-reviewed case study that will serve as a cumulative recap of the concepts you have learned throughout this course. The case study will involve a review of a letter to shareholders in which you will discuss key topics covered in this course that are mentioned in the letter.
2 videos2 readings1 peer review1 discussion prompt1 plugin
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
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This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
University of Illinois Urbana-Champaign
Degree · 8 months
University of Illinois Urbana-Champaign
Degree · 1.5 – 3 years
¹Successful application and enrollment are required. Eligibility requirements apply. Each institution determines the number of credits recognized by completing this content that may count towards degree requirements, considering any existing credits you may have. Click on a specific course for more information.
189 reviews
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Reviewed on Jul 21, 2020
the course was very informative. But it can be better by showing real-life applications and examples.
Reviewed on May 24, 2020
The concept covered are good and the test your knowledge section helps to revise and the course material is of good quality. Thanks, professor Davis and the team
Reviewed on Jan 8, 2020
Very informative course for Accounting background students.
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When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.