Basics of Accounting for Assets
Learn key accounting principles for assets: revenue recognition, bad debt expense, and inventory methods. Understand their impact on financial statements.
Learn key accounting principles for assets: revenue recognition, bad debt expense, and inventory methods. Understand their impact on financial statements.
This course provides a comprehensive introduction to accounting for assets. It covers essential topics such as revenue recognition, bad debt expense, and inventory valuation methods (FIFO, LIFO, average cost). Learners will understand how these concepts impact financial statements and the importance of matching costs with sales. Ideal for beginners with basic numerical skills, this course offers practical knowledge in asset accounting.
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What you'll learn
Understand the principles of revenue recognition in financial accounting
Learn how to account for bad debt expense and its impact on financial statements
Explore different inventory valuation methods: FIFO, LIFO, and average cost
Comprehend the importance of matching costs with sales in accounting
Analyze how different accounting methods for assets affect financial statements
Gain practical skills in applying asset accounting principles
Skills you'll gain
This course includes:
12 Minutes PreRecorded video
1 assignment
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FullTime access
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There is 1 module in this course
This course offers a concise yet comprehensive overview of key accounting principles related to assets. Students will learn about revenue recognition, understanding when and how to record revenue in financial statements. The course covers bad debt expense and its impact on financial reporting. It also delves into inventory accounting, explaining different methods like FIFO, LIFO, and average cost. Through video lectures and a graded assignment, learners will gain practical skills in asset accounting and understand how these concepts affect financial statements.
Basics of Accounting for Assets
Module 1 · 37 Minutes to complete
Fee Structure
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Instructor
Visiting Professor at IE Business School
Dr. Bruce Busta is a visiting professor at IE Business School in Madrid, Spain, where he has taught for over 17 years. He specializes in financial and managerial accounting, offering a range of courses that include "Basics of Accounting for Assets and Liquidity" and other related subjects on platforms like Coursera. Dr. Busta holds a degree from the University of Nebraska-Lincoln and has extensive experience in academia, focusing on the intersection of accounting practices and business management. His contributions to the field include several research works that have garnered significant citations, reflecting his impact on accounting education. In addition to his teaching responsibilities, he is actively involved in curriculum development and enhancing the learning experience for students at IE Business School.
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