More Introduction to Financial Accounting

About this course: The course builds on my Introduction to Financial Accounting course, which you should complete first. In this course, you will learn how to read, understand, and analyze most of the information provided by companies in their financial statements. These skills will help you make more informed decisions using financial information.

Created by:  University of Pennsylvania

• Taught by:  Brian J Bushee, The Geoffrey T. Boisi Professor

  Accounting

Commitment 6 weeks of study, 6-8 hours/week Language English How To Pass Pass all graded assignments to complete the course. 课程作业

每门课程都像是一本互动的教科书，具有预先录制的视频、测验和项目。

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证书

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University of Pennsylvania The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.

Syllabus


WEEK 1


Week 5: Introduction and Working Capital Assets



Now that we have a solid grasp of the foundations from the Introduction to Financial Accounting course, we are going to work our way around the Balance Sheet to discuss various types of Assets, Liabilities, and Stockholders' Equity (along with their associated Revenues and Expenses) in more detail. We kick off with Accounts Receivable and the problem that some customers that buy goods on credit will not actually pay us. We will look at the computation, disclosure, and analysis of such "Bad Debts". We will also briefly discuss other Accounts Receivable issues such as Factoring and Securitization. Then, we will move on to Inventory. We will discuss how Inventory accounting differs between retail and manufacturing firms. We will see how companies figure out the cost of the inventory they sold, which requires assumptions about cost flows. This discussion will lead us into covering one of the most infamous accounting topics: LIFO.


8 videos, 1 reading expand

1. 阅读: Frequently Asked Questions
2. Video: Introduction video
3. Video: Video 5.1.1: Accounts Receivable
4. Video: Video 5.1.2: Estimating Uncollectible Accounts
5. Video: Video 5.2: Accounts Receivable Disclosure Example
6. Video: Video 5.3.1: Inventory
7. Video: Video 5.3.2: LIFO vs. FIFO
8. Video: Video 5.4: Inventory Disclosure Example
9. Video: Video 5.5: 3M Company: Accounts Receivable and Inventory

Graded: Homework #1

WEEK 2


Week 6: Long-lived Assets and Marketable Securities



This week, we will cover assets that represent longer-term investments. We will start with Property, Plant, and Equipment, covering questions like: What gets included in these accounts? How are they depreciated? What happens if their value is impaired? Then, we will cover similar questions for Intangible Assets, including Goodwill. Finally, we will discuss how companies account for investments in debt and equity securities and how the treatment for equity investments in other companies is determined by how much of the other company is owned.


8 videos expand

1. Video: Video 6.1.1: Tangible Assets I
2. Video: Video 6.1.2: Tangible Assets II
3. Video: Video 6.2: Intangible Assets and Goodwill
4. Video: Video 6.3: Long-lived Assets Disclosure Example
5. Video: Video 6.4.1: Marketable Securities I
6. Video: Video 6.4.2: Marketable Securities II
7. Video: Video 6.5: Marketable Securities Disclosure Example
8. Video: Video 6.6: 3M Company: Long-lived Assets & Marketable Securities

Graded: Homework #2

WEEK 3


Week 007: Liabilities and Long-term Debt



We move to the right-hand side of the Balance Sheet this week with a look at Liabilities. We will start by covering time-value of money, which is the idea that $1 today is not worth the same as $1 in the future. Almost all liabilities involve a consideration of the time-value of money, so this will be an important foundation piece for you to understand. Then, we will cover accounting for bank debt, mortgages, and bonds. Next, we will move into the topic of "off-balance-sheet" liabilities with a discussion of Leases.


7 videos expand

1. Video: Video 7.1.1: Time Value of Money: Future Value
2. Video: Video 7.1.2: Time Value of Money: Present Value
3. Video: Video 7.1.3: Time Value of Money: Annuities
4. Video: Video 7.2.1: Long-Term Debt and Bonds I
5. Video: Video 7.2.2: Long-Term Debt and Bonds II
6. Video: Video 7.3: Leases
7. Video: Video 7.4: 3M Company: Long-Term Debt and Leases

Graded: Homework #3

WEEK 4


Week 8: Deferred Taxes



There are two certainties in life, and we will cover one of them this week (the other is beyond the scope of the course). We will NOT teach you how to prepare your own tax return. Instead, we will discuss how companies have to prepare "two sets of books": their financial statements and their tax returns. The rules are different for these two sets of books, leading to permanent differences and to temporary differences. We will cover both types of differences, with a main focus on "deferred taxes", which are the byproduct of temporary or timing differences between tax reporting and financial reporting. Finally, we will touch on other tax issues, such as Net Operating Loss Carryforwards and the rule that requires companies to disclose how much they are trying to cheat on their taxes (sorry, that should say "use tax planning strategies to manage their taxable income").


7 videos expand

1. Video: Video 8.1: Income Taxes: Overview and Terminology
2. Video: Video 8.2.1: Deferred Tax Liabilities
3. Video: Video 8.2.2: Deferred Tax Assets and Tax Rate Changes
4. Video: Video 8.3: Valuation Allowances and NOLs
5. Video: Video 8.4: Income Tax Disclosure Example
6. Video: Video 8.5: Taxes, SCF, and Marketable Securities
7. Video: Video 8.6: 3M Company: Income Taxes

Graded: Homework #4

WEEK 5


Week 9: Shareholders' Equity



Our final week of new material ends at the bottom of the Balance Sheet: Shareholders' Equity. We will talk about issuing stock, repurchasing stock, Treasury Stock, stock dividends and splits, Accumulated Other Comprehensive Income, and stock-based compensation. We will also finally cover the fourth required financial statement: the Statement of Stockholders' Equity.


7 videos expand

1. Video: Video 9.1: Share Issuances and Repurchases
2. Video: Video 9.2: Dividends, Splits, and AOCI
3. Video: Video 9.3: Stock-based Compensation
4. Video: Video 9.4: Earnings Per Share
5. Video: Video 9.5.1: Contributed Capital Disclosure Example
6. Video: Video 9.5.2: Stock-based Compensation Disclosure Example
7. Video: Video 9.6: 3M Company: Shareholders' Equity

Graded: Homework #5

WEEK 6


Week 10: Financial Statement Analysis



In the videos this week, I go through a systematic financial statement analysis for a company. There is no homework assignment for this material and it will not be explicitly covered on the exam (although some of the concepts are a review of material we have covered previously). Thus, if you don't have time before the final exam, you can enjoy these videos after completing the exam without adversely affecting your performance. The final exam will cover material in weeks 5 through 9. The only thing left to do after this exam is to impress your family, friends, and co-workers with your vast knowledge of Financial Accounting!


5 videos expand

1. Video: Video 10.1: FSA I: Business, Strategy, and Competitive Environment
2. Video: Video 10.2: FSA II: Growth and Earnings Performance
3. Video: Video 10.3: FSA III: Cash Flow and Ratios
4. Video: Video 10.4: FSA IV: Investing and Financing Activities
5. Video: Video 10.5: FSA V: Off-Balance Sheet Activities

Graded: Final Exam, Part 1
Graded: Final Exam, Part 2