About this Course
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Try out lectures, course readings, and self-paced assignments from the Illinois iMSA degree

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Intermediate Level

Approx. 30 hours to complete

Suggested: 8 weeks of study, 6-8 hours a week...

English

Subtitles: English

Start working towards your degree

Try out lectures, course readings, and self-paced assignments from the Illinois iMSA degree

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Intermediate Level

Approx. 30 hours to complete

Suggested: 8 weeks of study, 6-8 hours a week...

English

Subtitles: English

Syllabus - What you will learn from this course

Week
1
1 hour to complete

About the Course

In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

...
1 video (Total 2 min), 4 readings, 1 quiz
1 video
4 readings
Syllabus10m
About the Discussion Forums10m
Update Your Profile10m
Build a Learning Community with Social Media10m
1 practice exercise
Orientation Quiz8m
2 hours to complete

Module 1 Postretirement Benefits Part 1

In this module, you will be introduced to the accounting by employers for employee postretirement benefits. We will explore the basic features of accounting for defined benefit plans, including benefit obligations, plan assets, and the components of net periodic benefit cost. The discussion includes accounting for changes in net pension asset or liability that are recognized in other comprehensive income.

...
5 videos (Total 53 min), 1 reading, 6 quizzes
5 videos
Pension Assets and Liabilities11m
Net Periodic Benefit Cost and Other Comprehensive Income11m
Postretirement Benefits: Defined Benefit Pension Example8m
Individual Plans4m
1 reading
Module 1 Overview and Resources10m
6 practice exercises
Lesson 1.1 Knowledge Check4m
Lesson 1.2 Knowledge Check2m
Lesson 1.3 Knowledge Check2m
Lesson 1.4 Knowledge Check4m
Lesson 1.5 Knowledge Check2m
Module 1 Quiz14m
Week
2
1 hour to complete

Module 2 Postretirement Benefits Part 2

In this module, you will continue your study of the employer's accounting for employee retirement benefits, including health care plans, multi-employer plans, and defined contribution plans. We will learn the definitions of curtailment and settlement and the impact of each on the financial statements. The module also describes defined contribution plans and multi-employer plans. The module will wrap up with a brief discussion of some of the major differences between US GAAP and IFRS.

...
4 videos (Total 45 min), 1 reading, 5 quizzes
4 videos
Settlements and Curtailments15m
Defined Contribution and Multiemployer Plans10m
IFRS8m
1 reading
Module 2 Overview and Resources10m
5 practice exercises
Lesson 2.1 Knowledge Check2m
Lesson 2.2 Knowledge Check2m
Lesson 2.3 Knowledge Check2m
Lesson 2.4 Knowledge Check4m
Module 2 Quiz16m
Week
3
2 hours to complete

Module 3 Equity

In this module, the conversation changes from liabilities to equity. You will learn how to account for the issuance of common stock and basic transactions such as cash dividends, stock dividends, stock splits, and the purchase and reissuance of treasury stock. The module also includes a discussion of preferred stock and accumulated other comprehensive income.

...
5 videos (Total 57 min), 1 reading, 6 quizzes
5 videos
Equity: Results of Operations14m
Equity: Accumulated Other Comprehensive Income10m
Equity: Preferred Stock10m
Equity: Retirements and Treasury Stock9m
1 reading
Module 3 Overview and Resources10m
6 practice exercises
Lesson 3.1 Knowledge Check4m
Lesson 3.2 Knowledge Check4m
Lesson 3.3 Knowledge Check2m
Lesson 3.4 Knowledge Check2m
Lesson 3.5 Knowledge Check2m
Module 3 Quiz22m
Week
4
2 hours to complete

Module 4 Share-Based Payments

In this module, you will be introduced to share-based payments, such as stock options. We will learn the different models used in valuing equity instruments. This module will begin with a simple example for the accounting of employee stock options, and will then build on that to include forfeitures and graded vesting. The module will conclude with a discussion of stock appreciation rights and restricted shares.

...
7 videos (Total 58 min), 1 reading, 8 quizzes
7 videos
Share-Based Payments: Employee Stock Options5m
Shared-Based Payments: Forfeitures7m
Graded Vesting and Performance Conditions7m
Share-Based Payments: Liabilities and Modifications8m
Share-Based Payments: Stock Appreciation Rights8m
Restricted Shares5m
1 reading
Module 4 Overview and Resources10m
8 practice exercises
Lesson 4.1 Knowledge Check2m
Lesson 4.2 Knowledge Check6m
Lesson 4.3 Knowledge Check2m
Lesson 4.4 Knowledge Check2m
Lesson 4.5 Knowledge Check2m
Lesson 4.6 Knowledge Check2m
Lesson 4.7 Knowledge Check2m
Module 4 Quiz18m
Week
5
1 hour to complete

Module 5 Earnings Per Share

In this module, you will be introduced to the concept of earnings per share (EPS). You will learn how to account for basic EPS and diluted EPS. The module includes discussion of how preferred stock, options, and conversion features affect the numerator and denominator when calculating basic and diluted EPS. The module continues with the discussion of the mechanics of the if-converted and treasury stock methods, and the accounting for antidilutive securities.

...
5 videos (Total 49 min), 1 reading, 6 quizzes
5 videos
Earnings Per Share: Basic EPS10m
Diluted EPS: If-Converted Method12m
Diluted EPS: Treasury Stock Method11m
Diluted EPS: Antidilution9m
1 reading
Module 5 Overview and Resources10m
6 practice exercises
Lesson 5.1 Knowledge Check2m
Lesson 5.2 Knowledge Check4m
Lesson 5.3 Knowledge Check4m
Lesson 5.4 Knowledge Check2m
Lesson 5.5 Knowledge Check2m
Module 5 Quiz12m
Week
6
2 hours to complete

Module 6 Accounting Changes

In this module, you will be introduced to the accounting for changes in accounting principles, changes in accounting estimates, and correction of errors from a previous period. The module will discuss the three techniques used when a new standard is adopted: retrospective, modified retrospective, and prospective.

...
5 videos (Total 56 min), 1 reading, 5 quizzes
5 videos
Accounting Changes Example: Change in Principle8m
Accounting Changes: Changes in Estimates11m
Accounting Changes: Error Correction10m
Accounting Changes: Transition7m
1 reading
Module 6 Overview and Resources10m
5 practice exercises
Lesson 6.1 Knowledge Check4m
Lesson 6.2 Knowledge Check2m
Lesson 6.3 Knowledge Check2m
Lesson 6.4 Knowledge Check2m
Module 6 Quiz16m
Week
7
3 hours to complete

Module 7 Statement of Cash Flows

In this module, you will be introduced to the statement of cash flows. We will learn how to classify cash flows as investing, financing, or operating activities. The module will conclude with a comparison of the statement of cash flows prepared using the direct and indirect methods.

...
4 videos (Total 43 min), 1 reading, 5 quizzes
4 videos
Statement of Cash Flows: Classification10m
Statement of Cash Flows: Direct Method10m
Statement of Cash Flows: Indirect Method9m
1 reading
Module 7 Overview and Resources10m
4 practice exercises
Lesson 7.1 Knowledge Check4m
Lesson 7.2 Knowledge Check4m
Lesson 7.3 Knowledge Check4m
Module 7 Quiz10m
Week
8
2 hours to complete

Module 8 Review and Evaluation

In this module, there will be a review of the seven previous modules. We review the concepts of: defined benefit plans, health care retirement plans, defined contribution plans, common stock issuances, stock dividends and splits, preferred stock, employee stock options and forfeitures, SARs and RSUs, basic and diluted EPS, the three accounting change techniques, rollover and iron curtain methods, and the direct and indirect methods of presenting the statement of cash flows. All of these concepts were previously discussed.

...
7 videos (Total 43 min), 2 readings, 1 quiz
7 videos
Review of Retiree Medical Benefits7m
Review of Equity6m
Review of Share-Based Payments7m
Review of EPS4m
Review of Accounting Changes6m
Review of Statement of Cash Flow3m
2 readings
Module 8 Overview and Resources10m
Course Wrap-Up10m
1 practice exercise
Module 8 Quiz28m

Instructor

Avatar

John Hepp

Clinical Assistant Professor of Accountancy
Department of Accountancy

Get a head start on your degree

This course is part of the 100% online Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. Start an open course or Specialization today to watch courses featuring iMBA faculty and complete self-paced assignments. When you complete each course, you’ll earn a certificate that you can add to your LinkedIn and resume. If you apply and are admitted to the full program, your courses count towards your degree learning.

About University of Illinois at Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

About the Financial Reporting Specialization

The Financial Reporting Specialization focuses on the role of financial accounting principles and processes in creating and reporting an organization’s financial statements. Learners who complete this specialization will be able to (1) use financial accounting principles to create and/or process an organization’s financial statements and (2) analyze financial statements to assess an organization’s financial position....
Financial Reporting

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  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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