Understanding Financial Statements: Company Position
University of Illinois at Urbana-Champaign
This is a beginner-level course about financial statements, particularly Balance Sheet. Being able to read and understand financial statements is probably the most essential skill you need to possess, no matter you are a professional investor or even a small business owner.
It is amazing that the course is in the settings of two real stores: a bakery and a shoes shop, both of which are located in the same town as University of Illinois. The interview conversation between the professor and the business owners went through the entire course. Understanding how these stores operate their businesses will dramatically help you understand the purpose of Balance Sheet.
The equation Assets - Liabilities = Equity is the very first step. The course gradually introduced quite a few items you will see almost in every Balance Sheet: inventory, account receivable, goodwill, account payable, accrued liabilities, etc. When it comes to Equity., the professor reached out to a CFO of a real financial service company to help you understand different types of stocks.
I am very looking forward to the next course in this Specialization. Stay tuned.
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