This course is designed to provide a basic understanding of financial statements with an emphasis on the income statement. Building on the foundation formed in the first course, you will learn about the third of our three measurement questions and how the income statement helps to answer this final measurement question. Returning to the real business people introduced in the first course, this second course describes the basic content of income statement in a simple yet relevant context. The course ends by summarizing many of the lessons learned in both courses to leave you with a lasting impression about what financial statements are and how accounting can work for you. We all know that accounting is “the language of business”; let’s make learning this language engaging, and perhaps even fun!
Understanding Financial Statements: Company Performance
This course is part of Fundamentals of Accounting Specialization
Instructor: Kevin E. Jackson
43,402 already enrolled
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(768 reviews)
What you'll learn
Describe the purpose of an income statement and define its basic components.
Recognize and understand the meaning of several items typically presented on an income statement.
Explain the broader purpose of financial statements and the role of accounting in producing financial statements.
Read and, to some extent, interpret real-world income statements.
Skills you'll gain
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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
5 readings1 assignment1 discussion prompt1 plugin
This module introduces you to the primary components of the income statement by focusing on the concepts of revenue and cost of goods sold.
What's included
2 videos2 readings3 assignments
This module discusses examples of other income and expenses included in a typical income statement and introduces you to the statement of cash flows.
What's included
2 videos2 readings3 assignments
This module highlights common notes to the financial statements and provides insights from an expert.
What's included
2 videos2 readings3 assignments
This module revisits what the first two courses of the Fundamentals of Accounting Specialization have covered and examines how ratio analyses can help you evaluate a company.
What's included
3 videos3 readings3 assignments1 peer review1 discussion prompt1 plugin
Instructor
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University of Illinois Urbana-Champaign
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Reviewed on Aug 16, 2017
Outstanding course. The instructor does an excellent job of simplifying complex ideas to make your learning and understanding more meaningful and easy to grasp.
Reviewed on Mar 6, 2020
Overall the course was good but my frustration lies in the fact that I am now unable to clear the clutter of these courses from my screen because I only audited the course. Why is this the case?
Reviewed on Dec 28, 2020
Prof. Gary Hecht is quite challenging. You wonder whether he uses the testing information forpractise but either way you learn and understand the material he teachs.
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