Accounting Analysis II: Measurement and Disclosure of Liabilities

Go to Course: https://www.coursera.org/learn/accounting-analysis-2-liabilities

Introduction

**Course Review and Recommendation: Accounting Analysis II: Measurement and Disclosure of Liabilities on Coursera** Navigating the complexities of accounting for liabilities can be a daunting task, particularly for students and professionals seeking to deepen their understanding in this area. "Accounting Analysis II: Measurement and Disclosure of Liabilities," offered on Coursera, stands out as an exceptional resource for mastering the intricacies of liability accounting. This course provides a comprehensive examination of current liabilities, long-term debt, lease accounting, and pension accounting, making it an essential addition to the curriculum of aspiring accountants and financial analysts. ### Course Overview This course delves into the recognition, measurement, and disclosure of various types of liabilities, focusing on both theoretical and practical applications. It is structured in a clear and logical format, ensuring that learners can follow along with ease. The course covers a wide array of pertinent topics, including but not limited to: - **Current Liabilities and Contingencies**: Exploring accounts payable, accrued expenses, warranties, and pending litigation. - **Long-Term Debt**: Understanding the processes of issuance, interest payments, amortization, and extinguishment of debt instruments. - **Lease Accounting**: Examining the accounting standards applicable to both lessees and lessors. - **Pension Accounting**: Providing an in-depth look at defined benefit plans, pension obligations, and assets. ### Syllabus Breakdown The course is divided into well-organized modules, each designed to build upon the last: 1. **Orientation**: The initial module sets the stage by familiarizing students with the course dynamics, instructor, and classmates, as well as providing essential technical skills. 2. **Current Liabilities and Contingencies**: This module lays the groundwork for understanding how to classify liabilities and disclose contingencies in financial statements. 3. **Long-Term Debt (Part 1 and Part 2)**: These modules comprehensively cover the various aspects of accounting for bonds, including nuanced topics like convertible debt and differences in accounting across U.S. GAAP and IFRS. 4. **Lease Accounting (Part 1 and Part 2)**: These sections provide insights into the latest lease accounting standards set by the Financial Accounting Standards Board (FASB), crucial for understanding financial reporting for leased assets. 5. **Pension Accounting (Part 1 and Part 2)**: These modules delve into the mechanics of pension accounting, including the intricacies of defined benefit plans and the impact of U.S. GAAP versus IFRS. 6. **Course Evaluation**: This final module offers students the opportunity to reflect on their learning experiences and provide feedback to improve the course for future participants. ### What Makes This Course Stand Out? - **Expert Instruction**: The course is led by experienced instructors who bring real-world insights and practical knowledge to the learning experience. - **Flexibility**: Being an online course, it offers the flexibility needed to balance studies with personal or professional commitments. - **Interactive Learning**: The use of quizzes, practical examples, and peer interactions enhances understanding and retention of complex concepts. - **Up-to-date Content**: The inclusion of the most recent accounting standards ensures that students are learning the most relevant and current practices. ### Who Should Take This Course? This course is ideal for: - Accounting students looking to specialize in financial accounting. - Finance professionals seeking to enhance their understanding of liability accounting. - Anyone interested in improving their skills in financial reporting and compliance. ### Conclusion and Recommendation Overall, "Accounting Analysis II: Measurement and Disclosure of Liabilities" is a vital course for anyone serious about mastering the intricacies of accounting for liabilities. With its comprehensive syllabus, expert instruction, and emphasis on both theory and practical application, it provides learners with the tools necessary to excel in the field of accounting. I highly recommend this course to those looking to solidify their understanding of liability measurement and disclosure, as it will undoubtedly enrich your accounting acumen and boost your career prospects. Enroll today and take your first step towards becoming a proficient accountant!

Syllabus

About the Course

In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

In this module, you will be introduced to the concepts of current liabilities and contingencies. You will learn how to classify liabilities as current or long-term, including consideration of refinancing arrangements. The module also describes the criteria for recognizing and/or disclosing contingencies.

In this module, you will be introduced to the concept of long-term debt. You will learn about the different types of bonds and how each type results in different accounting, including bonds sold at a premium or discount. The module also explains the recognition of interest and bond extinguishment.

In this module, long-term debt will be discussed in more detail. Students will learn how to account for other aspects of bond accounting, including bond issue costs, fair value accounting, convertible debt, troubled debt restructuring, issuances between interest dates, and differences between U.S. GAAP and IFRS.

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

In this module, we continue the discussion of the lease accounting model. You will learn how to account for leased asset purchase options, leased asset residual values, sale leaseback accounting, and the differences between U.S. GAAP and IFRS when accounting for leases.

In this module, you will be introduced to accounting for pension benefits. We will explore the basic features of accounting for defined benefit plans, including benefit obligations, plan assets, and the components of net periodic benefit cost.

In this module, you will continue your study of accounting for employee retirement benefits. We will learn how to account for plan amendments and the recognition of pension gains and losses. We will also discuss a comprehensive recognition of pension activities. The module will conclude with a discussion of the major differences between U.S. GAAP and IFRS with respect to pension accounting.

This module is for you to tell us what you think of the course.