Accounting is the “language of business.” Being able to understand this language allows individuals both inside and outside of an organization to join the “conversation” about how the organization is performing and how it can improve future performance. Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the right business decisions.
Fundamentals of Accounting Specialization
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Fundamentals of Accounting Specialization
Accounting Basics for Managers and Entrepreneurs. Apply principles that underlie financial statements and facilitate business decisions and goals.
Instructors: Gary Hecht, Ph.D.
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Get in-depth knowledge of a subject
4.6
(1,124 reviews)
Beginner level
No prior experience required
2 months at 9 hours a week
Flexible schedule
Earn a career credential
Share your expertise with employers
Get in-depth knowledge of a subject
4.6
(1,124 reviews)
Beginner level
No prior experience required
2 months at 9 hours a week
Flexible schedule
Earn a career credential
Share your expertise with employers
What you'll learn
Interpret and analyze financial statements to assess the financial position of the organization.
Identify the nature, purpose, and importance of different types of decision-useful accounting information.
Use analytical tools and techniques to analyze accounting information that informs decisions made by managers, employees, and external parties.
Overview
Skills you'll gain
- Business Metrics
- Balance Sheet
- Cost Control
- Cash Flows
- Financial Statement Analysis
- Financial Statements
- Cost Management
- Accounting
- Operational Analysis
- Management Accounting
- Product Management
- Organizational Strategy
- Financial Analysis
- Cost Accounting
- Performance Measurement
- Performance Metric
- Capacity Management
- Financial Accounting
- Financial Reporting
- Income Statement
What’s included
Shareable certificate
Add to your LinkedIn profile
Taught in English
57 practice exercises
Advance your subject-matter expertise
- Learn in-demand skills from university and industry experts
- Master a subject or tool with hands-on projects
- Develop a deep understanding of key concepts
- Earn a career certificate from University of Illinois Urbana-Champaign
Specialization - 4 course series
What you'll learn
Describe the purpose of a balance sheet and its three components.
Recognize and understand the meaning of several items typically presented on a balance sheet.
Explain the broader purpose of financial statements and the role of accounting in producing the financial statements.
Read and, to some extent, interpret real-world balance sheets.
Skills you'll gain
Category: Financial Statements
Category: Balance Sheet
Category: Financial Reporting
Category: Asset Management
Category: Financial Statement Analysis
Category: Generally Accepted Accounting Principles (GAAP)
Category: Financial Accounting
Category: Accounting
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
Category: Financial Statements
Category: Income Statement
Category: Cash Flows
Category: Financial Statement Analysis
Category: Financial Reporting
Category: Balance Sheet
Category: Performance Analysis
Category: Accounting
Category: Financial Analysis
What you'll learn
Identify the nature, purpose, and importance of different types of decision-useful accounting information.
Create, organize, and communicate cost information to best suit common operational decisions.
Use accounting information to manage products, control costs, and leverage other drivers of operational success.
Skills you'll gain
Category: Decision Making
Category: Cost Accounting
Category: Strategic Decision-Making
Category: Management Accounting
Category: Analysis
Category: Cost Control
Category: Financial Accounting
Category: Cost Management
Category: Product Management
Category: Accounting
Category: Operational Analysis
Category: Business Metrics
Category: Financial Analysis
Category: Operational Efficiency
Category: Profit and Loss (P&L) Management
Category: Sales
Category: Operations Management
What you'll learn
Create and communicate accounting information that facilitates strategic decisions.
Use accounting information to develop, implement, and improve organizational strategy.
Implement controls that align managers’ and employees’ decisions with organizational goals.
Measure and evaluate manager and employee performance to control and motivate operational and strategic decision-making.
Skills you'll gain
Category: Management Accounting
Category: Budgeting
Category: Capacity Management
Category: Resource Allocation
Category: Decision Making
Category: Accounting
Category: Performance Measurement
Category: Cost Management
Category: Strategic Decision-Making
Category: Performance Metric
Category: Price Negotiation
Category: Financial Accounting
Category: Financial Controls
Category: Organizational Strategy
Earn a career certificate
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Frequently asked questions
Time to completion can vary widely based on your schedule, most learners are able to complete the Specialization in 5-7 months.
No background knowledge is necessary for this Specialization.
It is recommended that the courses in the Specialization be taken in the order outlined.In the Capstone Project, you will have the opportunity to synthesize your learning in all courses and apply your combined skills in a final project
More questions
Financial aid available,