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Formal Financial Accounting, University of Illinois at Urbana-Champaign

4.6
37 ratings
9 reviews

About this Course

This course builds upon what you learned in Financial Accounting: Foundations and Financial Accounting: Advanced Topics and introduces you to formal foundations of financial accounting. The main purpose of the course is to familiarize you with technical terms in financial accounting, such as debit, credit and T-account. While knowledge on technical aspects of financial accounting is not necessary to understand and interpret financial statements, this knowledge is critical to be able to understand advanced topics in accounting. Formal Financial Accounting is a prerequisite course for the University of Illinois' iMSA program and the terminology we will cover will be used throughout the courses in iMSA program. 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 a highly recognized master degree. 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 online master's in accounting program, refer to this link: https://www.coursera.org/university-programs/imsa ...

Top reviews

By AH

Dec 09, 2017

The lectures are great and easy to understand, and the examples are well explained and easy to follow. The professor explains the material in a very understandable way .

By JN

Feb 10, 2018

Absolutely loved this course! It was a great compliment to the two other accounting classes I have taken

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9 Reviews

By Khaled Mohamed Alsebaey Hebaa

Jul 23, 2018

Very valuable course

By Drew Burke

Jul 02, 2018

The structure of the three accounting courses was PHENOMENAL. Did a great job organizing course material so that I was not overwhelmed by too much information at once. The exercises were also excellent. Professor Urcan was wonderful. Cannot recommend highly enough.

By Robin Martens

May 04, 2018

The course gave many useful examples of the proper use of "debit" and "credit".

However, spreading this out over 4 weeks felt a little thin.

I think this certainly important terminology could have been covered as part of a more comprehensive course.

I found Introductory and Advanced Financial Accounting more helpful.

By Luci Wilson

Apr 23, 2018

great course- learned a LOT and actually understand what I'm learning!

By Jonathan Golland

Mar 26, 2018

are too many quizzes in this course and the lessons are tedious!

By Jeffrey Nazarko

Feb 10, 2018

Absolutely loved this course! It was a great compliment to the two other accounting classes I have taken

By Caio Cagnani

Jan 17, 2018

Very interesting to get yourself into this Formal Financial Accounting as a deeper analysis into the financial modules, Debit, Credit, Journal Entries and Ledgers. It does help you understanding better the concepts of financial accounting as a whole and the last grade exam, on Module 4, challenges you in a very effective way to put everything into practice. Thanks!

By Adriana Hernandez

Dec 09, 2017

The lectures are great and easy to understand, and the examples are well explained and easy to follow. The professor explains the material in a very understandable way .

By Aldren L Lopez

Nov 21, 2017

Thank you so much for this.