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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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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.
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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.
Applied Learning Project
Courses in this specialization include a mix of practice quizzes to self-assess understanding, graded quizzes to validate knowledge of the lecture materials, and peer review assignment to apply course concepts into real-word scenarios. These learning experiences build towards a cumulative learning outcome of developing the skills to apply accounting information in assessing the financial position of an organization and making strategic business decisions.
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.
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.
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.
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.
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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
· You will be able to understand the financial statements that managers create and provide to company stakeholders (including current and potential stockholders, creditors, regulatory agencies, etc.).
· You will also be able to identify and understand the nature, purpose, and importance of different types of decision-useful accounting information and apply this information to common business decisions.
Each course in the Specialization offers regular and open enrollment. You can begin and complete the course on your own schedule.
This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere via the web or your mobile device.
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. If you only want to read and view the course content, you can audit the course for free. If you cannot afford the fee, you can apply for financial aid.
Courses on Coursera do not carry University of Illinois credit on their own. Each iDegree course has an enhanced for-credit component. You can earn academic credit if you combine an open online course with the enhanced for-credit component offered on the University of Illinois platform. To learn more visit https://giesbusiness.illinois.edu/graduate-hub/online. Some universities may choose to accept Specialization Certificates for credit. Check with your institution to learn more.
Please find more information at https://giesbusiness.illinois.edu/graduate-hub/online or email your questions to giesonline@illinois.edu
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Yes! To get started, click the course card that interests you and enroll. You can enroll and complete the course to earn a shareable certificate, or you can audit it to view the course materials for free. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization. Visit your learner dashboard to track your progress.
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.