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Accounting Analysis I: Measurement and Disclosure of Assets

Approx. 24 hours to complete

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Course Summary

This course teaches students how to measure and disclose assets in financial reporting. It covers topics such as fair value measurement, impairments, and disclosures.

Key Learning Points

Learn how to measure and disclose assets in financial reporting
Understand fair value measurement and impairments
Explore disclosures related to assets

Learning Outcomes

Ability to measure and disclose assets in financial reporting
Understanding of fair value measurement and impairments
Knowledge of disclosures related to assets

Prerequisites or good to have knowledge before taking this course

Basic knowledge of accounting principles
Familiarity with financial statements

Course Difficulty Level

Intermediate

Course Format

Online self-paced course
Video lectures
Quizzes and assignments

Similar Courses

Financial Accounting: Foundations
Managerial Accounting: Cost Behaviors, Systems, and Analysis

Related Education Paths

Notable People in This Field

Barry J. Epstein
J. Edward Ketz

Related Books

Description

**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/degrees/imsa

Outline

Course Orientation
Learn on Your Terms
Syllabus
About the Discussion Forums
Learn More About Flexible Learning Paths
Updating Your Profile
Orientation Quiz

Module 1: Cash & Accounts Receivable
Module 1 Introduction
Cash, Internal Controls, and Cash Restrictions/Discounts
Uncollectable Receivables and Bad Debt Expense Estimation
Notes Receivable and Receivables Financing and Management
Bank Reconciliations
Module 1 Wrap-Up
KPMG Interview with Jay Livesay
Module 1 Readings and Resources
Lesson 1-1 Knowledge Check
Lesson 1-2 Knowledge Check
Lesson 1-3 Knowledge Check
Lesson 1-4 Knowledge Check
Module 1 Quiz

Module 2: Inventory - Measurement
Module 2 Introduction
Types of Inventory Systems & Costs Included in Inventory
Inventory Costing Methods & Factors Influencing Choice
Inventory Ratio Analysis & LIFO Inventory Pools
Module 2 Wrap-Up
Module 2 Readings and Resources
Lesson 2-1 Knowledge Check
Lesson 2-2 Knowledge Check
Lesson 2-3 Knowledge Check
Module 2 Quiz

Module 3: Inventory - Additional Issues
Module 3 Introduction
Subsequent Measure of Inventory (LCNRV)
Inventory Estimation Methods
Cost Flow Methods
Changes in Inventory Methods & Errors in Inventory
Module 3 Wrap-Up
Module 3 Readings and Resources
Lesson 3-1 Knowledge Check
Lesson 3-2 Knowledge Check
Lesson 3-3 Knowledge Check
Lesson 3-4 Knowledge Check
Module 3 Quiz

Module 4: PP&E - Acquisition & Disposition
Module 4 Introduction
Types of Long-Lived Assets & Costs to Be Capitalized
Dispositions & Exchanges
Costs of Self-Constructed Assets
Module 4 Wrap-Up
Module 4 Readings and Resources
Lesson 4-1 Knowledge Check
Lesson 4-2 Knowledge Check
Lesson 4-3 Knowledge Check
Module 4 Quiz

Module 5: PP&E - Utilization & Impairment
Module 5 Introduction
Cost Allocation Methods
Depletion & Amortization Methods
Expenditures After Acquisition
Depreciation Expense vs Inventory Costing Methods
Module 5 Wrap-Up
Module 5 Readings and Resources
Lesson 5-1 Knowledge Check
Lesson 5-2 Knowledge Check
Lesson 5-3 Knowledge Check
Module 5 Quiz

Module 6: Issues of Long-Lived Assets
Module 6 Introduction
Capital Budgeting & Ratio Analysis
Intangible Assets & Software Development Costs
Impairment & Measurement Issues
Module 6 Wrap-Up
Module 6 Readings and Resources
Lesson 6-1 Knowledge Check
Lesson 6-2 Knowledge Check
Lesson 6-3 Knowledge Check
Module 6 Quiz

Module 7: Investments
Module 7 Introduction
Types of Financial Instruments
Recording of Securities When the Investor Lacks Significant Influence
Using the Equity Method When the Investor Has Significant Influence
Fair Value Adjustments for Investments
Module 7 Wrap-Up
Module 7 Readings and Resources
Honors Case Study Company Selection
Lesson 7-1 Knowledge Check
Lesson 7-2 Knowledge Check
Lesson 7-3 Knowledge Check
Lesson 7-4 Knowledge Check
Module 7 Quiz

Module 8: Course Wrap-Up & Case Study
Gies Online Programs
Course Wrap-Up and Case Study Introduction
Congratulations!
Get Your Course Certificate

Summary of User Reviews

This course on asset measurement and disclosure received positive reviews from users. Many appreciated the practical approach of the course that helped them apply the concepts in real-life scenarios.

Key Aspect Users Liked About This Course

Practical approach and real-life application of concepts

Pros from User Reviews

Clear and concise explanations of complex concepts
Interactive quizzes and assignments for better understanding
Engaging and knowledgeable instructors
Relevant and up-to-date content
Useful resources and references provided

Cons from User Reviews

Some users found the pace of the course too slow
Not suitable for advanced learners
Limited interaction with other learners
No certificate of completion for free users
Some technical issues with the platform

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