9/23/2016 Module 2 Overview | Coursera

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Module 2: Recording Transactions and

Financial Statement Preparation
Overview
Financial accounting information is communicated to ʤnancial information users through
ʤnancial statements. Financial statements summarize ʤnancial transactions coded in
accounting language.

In this module, you will start by learning principles of recording ʤnancial transactions. Then
you will explore how to code ʤnancial transactions in accounting language through various
examples. You will then be able to build main ʤnancial statements by using coded ʤnancial
transactions. Finally, you will develop an understanding of the diʤerences between accrual
and cash accounting.

Further, you will have the opportunity to apply your knowledge via quizzes after each
lesson (for practice) and at the conclusion of the entire module (for assessment).

Time
This module should take approximately 4 hours of dedicated time to complete, with its
videos and assignments.

Module Components
The components for this module are listed below (with assignments in bold italics):

Title Estimated Time Required

Module 2 Readings 90 minutes

Module 2 Lectures 45 minutes

Module 2 Practice Quizzes 20 minutes

Module 2 Graded Quiz 30 minutes

Module 2 Discussion 30 minutes

Goals and Objectives

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9/23/2016 Module 2 Overview | Coursera

Goals and Objectives

Upon successful completion of this week, you will be able to:

Identify the logic behind recording financial transactions

Record various financial transactions in accounting language

Trace the link between main financial statements and recorded financial transactions

Differentiate between accrual and cash accounting

Key Phrases/Concepts
Look for the following key terms or phrases as you complete the readings and interact with
the lectures. These topics will help you better understand the content in this module. For
deʤnitions of the terms, please see the Glossary.

Fundamental accounting equation

Financial transaction

Recording financial transactions

Building financial statements

Accrual accounting

Cash accounting

Balance sheet

Income statement

Guiding Questions
As you complete the lectures and assignments, you will be able to develop answers to the
following guiding questions. These questions should be the focus of your learning.

What is the logic behind recording financial transactions?

How are financial transactions recorded?

How are main financial statements built from recorded financial transactions?

What is the difference between accrual and cash accounting?

What are the advantages of accrual accounting?

Getting and Giving Help

You can get/give help via the following means:

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Use the Learner Help Center to find information regarding specific technical problems.
For example, technical problems would include error messages, difficulty submitting
assignments, or problems with video playback. If you cannot find an answer in the
documentation, you can also report your problem to the Coursera staff by clicking on the
Contact Us! link available on each topic's page within the Learner Help Center.

Use the Content Issues forum to report errors in lecture video content, assignment
questions and answers, assignment grading, text and links on course pages, or the
content of other course materials. University of Illinois staff and Community Mentors will
monitor this forum and respond to issues.

Mark as completed

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