Students prepare statements relevant to year end accounting processes synthesizing what they have learned in the previous two courses. Specific topics include adjusting entries, closing entries (with a focus on the adjustment to retained earnings), the preparation of an income statement, retained earnings statement, and a balance sheet, and the procedure for recording the four closing entries. Students will also learn how to prepare the post-closing trial balance.
This course is part of the Introduction to Financial Accounting: The Accounting Cycle Specialization
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Introduction to Financial Accounting: The Accounting Cycle SpecializationUniversity of California, IrvineAbout this Course
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Course 3 of 3 in the
Approx. 10 hours to complete
English
Subtitles: English
Could your company benefit from training employees on in-demand skills?
Try Coursera for BusinessFlexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 3 of 3 in the
Approx. 10 hours to complete
English
Subtitles: English
Could your company benefit from training employees on in-demand skills?
Try Coursera for Business
Offered by
University of California, Irvine
Since 1965, the University of California, Irvine has combined the strengths of a major research university with the bounty of an incomparable Southern California location. UCI’s unyielding commitment to rigorous academics, cutting-edge research, and leadership and character development makes the campus a driving force for innovation and discovery that serves our local, national and global communities in many ways.
Syllabus - What you will learn from this course
2 hours to complete
Adjusting Entries & Adjusted Trial Balance
Welcome to the first module of the course! We begin this course at the fifth step of the accounting cycle "Record and Post Adjusting Entries". We will begin by discussing when adjusting entries are required, including a review of the four major categories of adjusting entries. In the module activity you will have the opportunity to record your own adjusting journal entries and prepare an adjusted trial balance.
2 hours to complete
4 videos (Total 15 min), 2 readings, 2 quizzes
2 hours to complete
The Worksheet
Welcome to the second module of the course! In this module we take a quick break from the steps of the accounting cycle to introduce a new tool called the worksheet. By the end of this module, you will be able to create a 10 column worksheet on your own while applying your knowledge of adjusting entries from Module 1
2 hours to complete
2 videos (Total 6 min), 2 readings, 2 quizzes
2 hours to complete
Creating & Analyzing Financial Statements
Welcome to Module 3! In this module we return to the accounting cycle with a singular focus on step 7 "Prepare Financial Statements". By the end of this module you will be able to prepare an income statement, a retained earnings statement, and a balance sheet.
2 hours to complete
3 videos (Total 8 min), 2 readings, 2 quizzes
2 hours to complete
Closing Entries & The Post-Closing Trial Balance
Welcome to the fourth and final module of the course. In this module we complete the final three steps in the accounting cycle. We will start by reviewing the procedure for recording the four closing entries. Then, we will walkthrough the steps of preparing the post-closing trial balance. This brings us to the final step of the accounting cycle, starting the new fiscal year!
2 hours to complete
3 videos (Total 9 min), 2 readings, 2 quizzes
Reviews
- 5 stars78.43%
- 4 stars11.76%
- 3 stars7.84%
- 1 star1.96%
TOP REVIEWS FROM COMPLETING THE ACCOUNTING CYCLE
by SRJun 9, 2021
This course was a useful and basic introduction to how accounting works.
by MIAug 14, 2022
The course is well designed and the trainer is really good. It gives a clear picture of an accounting cycle.
by GWJan 28, 2022
I appreciate this introduction course. I will continue to learn more through other more advance course.
About the Introduction to Financial Accounting: The Accounting Cycle Specialization
In this hands-on Specialization you will practice completing each step of the accounting cycle within Microsoft Excel, from analyzing and recording the first financial transactions of the year all the way through starting the new fiscal year.
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