What is financial accounting, and why is it important?

Financial accounting is the process of recording, categorizing, and reporting the transactions of a business. In contrast to other fields in accounting such as personal accounting or managerial accounting, financial accounting is specifically concerned with the preparation of financial statements for public use as required by banks, government regulators, shareholders, and other stakeholders. These statements typically include a company’s income statement (also known as a profit and loss or P&L statement), balance sheet, and statement of cash flows. Accurate financial accounting plays a critically important role in financial management, as these statements collectively provide an agreed-upon framework for both internal and external parties to evaluate the financial health of a company. As such, professionals in this field must have a rigorous understanding of accounting terminology and concepts as established in the Generally Accepting Accounting Principles (GAAP) that are standard in the U.S. - and potentially the International Financial Reporting Standards (IFRS), which are increasingly used by multinational corporations.

What kinds of careers can I have with a background in financial accounting?

Businesses of all kinds must produce financial statements in line with GAAP and IFRS methodologies, as required by taxation authorities as well as potential investors and lenders. Thus, accountants with the ability to organize and maintain financial records, rigorously apply financial accounting principles, and produce clear reports according to these standards are always in demand. According to the Bureau of Labor Statistics , accountants and auditors earned a median annual salary of $71,550 as of May 2019. These jobs are expected to grow as fast as other jobs in the economy, since they are dependent on the growth of businesses requiring their services. And, while entry-level positions may require only a bachelor’s degree in accounting, job prospects will be best for those with Certified Public Accountant (CPA) recognition, a masters of science in accountancy, or a master’s in business administration (MBA) with an accounting concentration.

Can I learn about financial accounting through online courses on Coursera?

Absolutely. Coursera offers a wide range of courses and Specializations in business and finance topics, including financial accounting, from top-ranked schools such as the University of Pennsylvania and the University of Virginia. You can even pursue a masters of science in accounting from the University of Illinois at Urbana-Champaign’s prestigious Gies College of Business - a top-three university in the field. Regardless of whether you’re a beginner looking for introductory-level education or a mid-career professional looking to dive deeper into a specific topic or pursue your master’s degree, Coursera lets you learn remotely on a flexible schedule that fits with your existing work or family life. And, with a lower tuition than on-campus alternatives, you don’t need to be an accounting expert (yet) to know that learning online is a smart decision for your own finances.

What skills or experience do I need to already have, before starting to learn financial accounting?

The skills and experience that you might need to have before starting to learn financial accounting could include having a strong interest in understanding financial statements and being comfortable working with numbers, spreadsheets, and income statements. To do this work, you might need to already have a good sense of financial discipline. This might include having organizational skills, paying close attention to detail, as well as being capable of both analytical and critical thinking. Because financial accounting involves preparing financial statements for companies to show their financial performance and status to interested outside parties, it's crucial that those working in financial accounting get the numbers absolutely correct.

What kind of people are best suited for roles that involve financial accounting?

The kind of people who are best suited for work that involves financial accounting may include those who are extroverted, sensing, thinking, and judging. It’s a personality type known as ESTJ. Being extroverted to learn financial accounting is helpful, as accountants often have to interface with CEOs, department heads, and business leaders, so communication skills are necessary. The sensing aspect means that you may learn to use all five senses to judge a situation well. A thinking person seeks to find logical explanations to problems and challenges, thus helping to make objective decisions. And having a judging aspect in your personality means that you may enjoy structure and organization in your life more than others. These personality characteristics have been shown to be in more than one-third of accountants.

How do I know if learning financial accounting is right for me?

You might know if learning financial accounting is right for you if you develop an interest in areas like budgets, numbers, and financial statements. If previous work has found you getting passionate about analyzing numbers in worksheets, journal entries, and general ledgers, then accounting might be an area to learn more about. Our world will always need people who can track financial figures, understand cash flows, and balance costs and expenses. Accounting may be right for you if you find yourself often seeking to manage the numbers in your home or business.

What are the benefits of taking an online Financial Accounting course?

Online Financial Accounting courses offer a convenient and flexible way to enhance your knowledge or learn new Financial Accounting skills. Choose from a wide range of Financial Accounting courses offered by top universities and industry leaders tailored to various skill levels.

What Financial Accounting courses are best for training and upskilling employees or the workforce?

When looking to enhance your workforce's skills in Financial Accounting, it's crucial to select a course that aligns with their current abilities and learning objectives. Our Skills Dashboard is an invaluable tool for identifying skill gaps and choosing the most appropriate course for effective upskilling. For a comprehensive understanding of how our courses can benefit your employees, explore the enterprise solutions we offer. Discover more about our tailored programs at Coursera for Business here .

Top Financial Accounting Courses - Learn Financial Accounting Online

Results for "financial accounting"

Coursera Project Network
Organic Marketing: Facebook Groups For Small Businesses
Skills you'll gain: Entrepreneurship, Marketing, Social Media
4.6
Rating, 4.6 out of 5 stars
717 reviews
Intermediate · Guided Project · Less Than 2 Hours
Coursera Project Network
Analyzing Digital Transformation Canvas for Competitiveness
Skills you'll gain: Entrepreneurship, Information Technology, Innovation, Strategy
Intermediate · Guided Project · Less Than 2 Hours
University of Illinois at Urbana-Champaign
Value Chain Management Graduate Certificate
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Global Challenges in Business Graduate Certificate
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Graduate Certificate in Taxation
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Entrepreneurship and Strategic Innovation Graduate Certificate
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Managerial Economics & Business Analysis Graduate Certificate
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Graduate Certificate in Strategic Leadership & Management
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
University of Illinois at Urbana-Champaign
Graduate Certificate in Digital Marketing
Skills you'll gain: Leadership and Management, Accounting, Finance, Financial Accounting, Financial Analysis, Business Analysis, Marketing, Strategy, Financial Management, Critical Thinking, Decision Making, Data Analysis, General Accounting, Strategy and Operations, Market Analysis, Generally Accepted Accounting Principles (GAAP), Taxes, Entrepreneurship, Management Accounting, Investment Management, Mergers & Acquisitions, Risk Management, Communication, Market Research, Regulations and Compliance, Cost Accounting, Problem Solving, Digital Marketing, Account Management, Accounts Payable and Receivable, Corporate Accouting, Marketing Management, Business Development, Business Process Management, Data Management, Exploratory Data Analysis, Statistical Programming, Media Strategy & Planning, Probability & Statistics, Data Visualization, Innovation, Audit, Leadership Development, Planning, Business Transformation, Banking, Performance Management, Business Intelligence, Cash Management, Product Strategy, Python Programming, Sales, Statistical Analysis, Social Media, Brand Management, Business Psychology, Customer Analysis, Business Communication, Creativity, Organizational Development, Product Management, Research and Design, Securities Trading, Culture, Data Analysis Software, Machine Learning, Advertising, Behavioral Economics, Customer Relationship Management, Human Learning, People Analysis, Process Analysis, R Programming, Business Design, Correlation And Dependence, General Statistics, Influencing, People Management, Product Marketing, Adaptability, Change Management, Conflict Management, Marketing Design, Operational Analysis, Project Management, Advertising Sales, Collaboration, Interactive Data Visualization, Product Development, Regression, Statistical Machine Learning, Negotiation, Basic Descriptive Statistics, Benefits, Big Data, Budget Management, Data Model, Emotional Intelligence, Human Resources, Operations Management, Plot (Graphics), Data Visualization Software, Probability Distribution, Statistical Tests, Storytelling, Algorithms, Computer Programming, Data Mining, Employee Relations, Securities Sales, Data Structures, Machine Learning Algorithms, Visualization (Computer Graphics), Contract Management, Extract, Transform, Load, Compensation, Databases, Entrepreneurial Finance, Forecasting, Game Theory, Supply Chain and Logistics, Visual Design, Accounting Software, Econometrics, Natural Language Processing, SQL, Theoretical Computer Science, BlockChain, Data Architecture, Microsoft Excel, People Analytics, People Development, Strategic Thinking
Credit offered
Graduate Certificate · 6 - 12 Months
Status: Free
Peking University
真格—北大在线创业课堂
Skills you'll gain: Entrepreneurship, Business Development, Entrepreneurial Finance, People Management
4.7
Rating, 4.7 out of 5 stars
165 reviews
Mixed · Course · 1 - 4 Weeks
Technion - Israel Institute of Technology
Cracking the Creativity Code: Discovering Ideas
Skills you'll gain: Creativity, Entrepreneurship, Research and Design, Planning
4.7
Rating, 4.7 out of 5 stars
1K reviews
Mixed · Course · 1 - 3 Months
University of Colorado System
Cybersecurity Policy for Aviation and Internet Infrastructures
Skills you'll gain: Finance, Security Engineering, Leadership and Management
4.7
Rating, 4.7 out of 5 stars
252 reviews
Beginner · Course · 1 - 4 Weeks