This course is part of the Financial Reporting Specialization

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Adel Ibrahim

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Financial Reporting SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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This course is the third course in the five-course Financial Reporting Specialization. This course begins with a discussion of current liabilities and contingencies and continues with long-term debt and bonds.  The course next explores accounting model for leases, both lessees and lessors, and a discussion on deferred tax assets and liabilities. Participants will learn the latest accounting standards including the new accounting model for leases effective for public companies in 2019 and private companies in 2020.

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Course 3 of 5 in the

Financial Reporting Specialization

Intermediate Level

Approx. 19 hours to complete

English

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Flexible 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.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 3 of 5 in the

Financial Reporting Specialization

Intermediate Level

Approx. 19 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.58/5 (32 Ratings)

Adel Ibrahim

Lecturer of Accountancy

Accountancy

11,366 Learners

2 Courses

Offered by

University of Illinois at Urbana-Champaign

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This course is part of the Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your coursework will count towards your degree learning and all of your progress will transfer with you.

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Syllabus - What you will learn from this course

Week1

Week 1

1 hour to complete

About the Course

1 hour to complete

1 video (Total 1 min), 4 readings, 1 quiz

3 hours to complete

Module 1: Current Liabilities and Contingencies

3 hours to complete

9 videos (Total 54 min), 1 reading, 10 quizzes

9 videos

Current Liabilities5mExample: Current Liabilities 9mClassification of Liabilities into Current and Long-term4mExample: Classification of Liabilities into Current and Long-term4mContingencies7mExample: Contingencies8mSubsequent Events and Contingencies3mExample: Subsequent Events and Contingencies5mGAAP versus IFRS4m

1 reading

Module 1 Overview and Resources10m

10 practice exercises

Lesson 1.1 Knowledge Check10mLesson 1.1 Example Knowledge Check10mLesson 1.2 Knowledge Check2mLesson 1.2 Example Knowledge Check2mLesson 1.3 Knowledge Check5mLesson 1.3 Example Knowledge Check5mLesson 1.4 Knowledge Check2mLesson 1.4 Example Knowledge Check2mLesson 1.5 Knowledge Quiz5mModule 1 Quiz30m

Week2

Week 2

3 hours to complete

Module 2: Long-Term Debt Part 1

3 hours to complete

9 videos (Total 62 min), 1 reading, 10 quizzes

9 videos

Long-term Liabilities (Notes Payable)6mExample: Long-term Liabilities (Notes Payable)6mVarious Types of Bonds5mBond Issuance5mExample: Bond Issuance8mAccounting for the Bond's Periodic Payments5mExample: Accounting for the Bond's Periodic Payments14mBond Extinguishment4mExample: Bond Extinguishment6m

1 reading

Module 2 Overview and Resources10m

10 practice exercises

Lesson 2.1 Knowledge Check2mLesson 2.1 Example Knowledge Check2mLesson 2.2 Knowledge Check5mLesson 2.3 Knowledge Check5mLesson 2.3 Example Knowledge Check2mLesson 2.4 Knowledge Check10mLesson 2.4 Example Knowledge Check30mLesson 2.5 Knowledge Check5mLesson 2.5 Example Knowledge Check2mModule 2 Quiz30m

Week3

Week 3

3 hours to complete

Module 3: Long-Term Debt Part 2

3 hours to complete

10 videos (Total 65 min), 1 reading, 11 quizzes

10 videos

Issuing Bonds Between Interest Dates6mExample: Issuing Bonds Between Interest Dates8mBond Issue Cost4mExample: Bond Issue Cost6mReporting Bonds at Fair Value5mExample: Reporting Bonds at Fair Value4mConvertible Debt Securities5mExample: Convertible Debt Securities7mTroubled Debt Restructuring4mExamples: Troubled Debt Restructuring11m

1 reading

Module 3 Overview and Resources10m

11 practice exercises

Lesson 3.1 Knowledge Check2mLesson 3.1 Example Knowledge Quiz5mLesson 3.2 Knowledge Check5mLesson 3.2 Example Knowledge Check5mLesson 3.3 Knowledge Check2mLesson 3.3 Example Knowledge Check10mLesson 3.4 Knowledge Check5mLesson 3.4 Example Knowledge Check2mLesson 3.5 Knowledge Check10mLesson 3.5 Example Knowledge Check10mModule 3 Quiz30m

Week4

Week 4

2 hours to complete

Module 4: Lease Accounting Part 1

In this module, you will be introduced to the recently issued lease accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board). Starting with the definition of a lease, this module will discuss features of the new model common to both lessors and lessees and then illustrate the classification of leases, initial recognition and measurement and subsequent measurement by lessees.

2 hours to complete

7 videos (Total 49 min), 1 reading, 8 quizzes

7 videos

Accounting for Leases: An Overview7mLessee Accounting for a Finance Lease4mLessor Accounting for a Sales-type Lease4mExample: Lessee Accounting for a Finance Lease 8mExample: Lessor Accounting for a Sales-Type Lease7mOperating Lease5mExample: Operating Lease10m

1 reading

Module 4 Overview and Resources10m

8 practice exercises

Lesson 4.1 Knowledge Check5mLesson 4.2 Knowledge Check5mLesson 4.3 Knowledge Check2mLesson 4.3 Example Lessee Accounting for a Finance Lease Knowledge Check10mLesson 4.3 Example: Lessor Accounting for a Sales-Type Lease Knowledge Check 2mLesson 4.4 Knowledge Check10mLesson 4.4 Example Knowledge Check10mModule 4 Quiz30m

Week5

Week 5

2 hours to complete

Module 5: Lease Accounting Part 2

In this module, we continue the discussion of the new lease accounting model. You will learn how to account for lease modifications and terminations. The accounting for lease and non-lease elements will be examined. The module then describes the accounting for lessors including sales-type, direct-financing, and operating leases. Our discussion of lease accounting concludes with the accounting for sales and leasebacks.

2 hours to complete

7 videos (Total 54 min), 1 reading, 8 quizzes

7 videos

Accounting for Lease Contracts with a Purchase Option6mExample: Accounting for Lease Contracts with a Purchase Option9mAccounting for Lease Contracts with a Guaranteed Residual Value4mAccounting for Lease Contracts with an Unguaranteed Residual Value7mExample: Lesson 2 and Lesson 312mSale and Leaseback Arrangements 4mExample: Sale and Leaseback Arrangements 7m

1 reading

Module 5 Overview and Resources10m

8 practice exercises

Lesson 5.1 Knowledge Check2mLesson 5.1 Example Knowledge Check2mLesson 5.2 Knowledge Check2mLesson 5.3 Knowledge Check5mLesson 5.2 and 5.3 Example Knowledge Check5mLesson 5.4 Knowledge Check2mLesson 5.4 Example Knowledge Check5mModule 5 Quiz30m

Week6

Week 6

2 hours to complete

Module 6: Deferred Taxes Part 1

In this module, you will be introduced to deferred taxes. You will learn the differences between deferred tax assets/deferred tax liabilities and tax refunds receivable/taxes payable. Temporary and permanent tax differences and net operating loss (NOL) carrybacks and carryforwards are described. The module also includes discussion of intraperiod tax allocation and the effect of changes in tax rates.

2 hours to complete

9 videos (Total 56 min), 1 reading, 10 quizzes

9 videos

Introduction to Accounting for Income Taxes7mPermanent versus Temporary Differences6mPermanent versus Temporary Differences Example8mDeferred Tax Liability3mDeferred Tax Liability Example7mDeferred Tax Assets3mDeferred Tax Assets: Example7mValuation Allowance for Deferred Tax Asset4mExample: Valuation Allowance for Deferred Tax Asset7m

1 reading

Module 6 Overview and Resources10m

10 practice exercises

Lesson 6.1 Knowledge Check2mLesson 6.2 Knowledge Check2mLesson 6.2 Knowledge Check5mLesson 6.3 Knowledge Check2mLesson 6.3 Knowledge Check10mLesson 6.4 Knowledge Check2mLesson 6.4 Knowledge Check for DTA Example2mLesson 6.5 Knowledge Check2mLesson 6.5 Example Knowledge Check2mModule 6 Quiz30m

Week7

Week 7

3 hours to complete

Module 7: Deferred Taxes Part 2

3 hours to complete

8 videos (Total 51 min), 1 reading, 10 quizzes

8 videos

Multiple Differences5mTax Rate Changes4mExample: Lesson 7.1 and 7.211mNet Operating Losses Considerations5mExample: Net Operating Losses Considerations6mIntraperiod Tax Expense Allocation4mExample: Intraperiod Tax Expense Allocation7mRequired Reporting when Accounting for Taxes4m

1 reading

Module 7 Overview and Resources10m

9 practice exercises

Lesson 7.1 Knowledge Check2mLesson 7.2 Knowledge Check2mLesson 7.2 Example Knowledge Check 5mLesson 7.3 Knowledge Check5mLesson 7.3 Example Knowledge Check5mLesson 7.4 Knowledge Check2mLesson 7.4 Example Knowledge Check2mLesson 7.5 Knowledge Check2mModule 7 Quiz30m

Week8

Week 8

1 hour to complete

Module 8: Review and Evaluation

1 hour to complete

1 video (Total 4 min), 4 readings

Reviews

4.6

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1 star
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TOP REVIEWS FROM ACCOUNTING ANALYSIS II: MEASUREMENT AND DISCLOSURE OF LIABILITIES

by BEJan 20, 2021

Adel Ibrahim is an excellent lecturer. This course is clear and presents technical information in full context, with excellent examples and supporting documentation.

by MHFeb 11, 2021

The professor was excellent. The lectures were straight forward and the examples made the subject clear to understand. I enjoyed this course greatly. I would take any class this professor taught. :)

by IMOct 11, 2020

The course was perfect as a whole. Easily understandable lectures. The course contents were extremely good. It helped a lot to improve my understanding on certain topics. Thank you so much.

by LSJan 22, 2020

This course is very interesting and informative! Great professor

View all reviews

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.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
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.
Is financial aid available?
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.

More questions? Visit the Learner Help Center.

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Accounting Analysis II: Measurement and Disclosure of Liabilities

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