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.
In this Fundamentals of Accounting offered by Coursera in partnership with University of Illinois at Urbana Champaign, you will learn the fundamentals of both of these purposes of accounting. More specifically, you will understand the financial statements that managers create, and be able to interpret and analyze these statements to assess the financial position of the organization.
You will also identify and understand the nature, purpose, and importance of different types of decision-useful accounting information, and use analytical tools and techniques to use this information to make business decisions.
Via the capstone, you will apply these fundamentals via the lens of a new business, creating a business plan, forecasts and budgets, and anticipated information needs for decisions made by you as owner and manager, your employees, and external parties such as future shareholders, creditors, and other constituents.
StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.
Together with the ISIC Association and British Council IELTS, Studyportals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.