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Financial Analysis of Scenarios and Decisions
  • Level Foundation
  • Duration 17 hours
  • Course by University of Illinois Urbana-Champaign
  • Offered by

About

This course focuses on adopting and implementing a financially analytic mindset when engaged in organizational decision-making and scenario analysis. The course begins with an overview of the "internal" perspective of the organization, in which you will learn fundamental concepts, including the importance of how cost information is organized for different decision scenarios. You will then learn about scenario analysis, including cost-volume-profit analysis and other fundamental concepts that help facilitate financial organizational decision-making. Next, you will learn about planning and budgeting, a key function that allows organizations to identify and allocate resources necessary to achieve organizational goals. You will then learn how to assess actual performance against these budgets using variance analysis. Finally, you will learn about the organization’s performance measurement, evaluation, and compensation system. Specifically, you will learn about the advantages and disadvantages of common financial performance measures and understand how an organization uses non-financial performance measures within its strategic performance measurement system to complement the financial perspective.

Modules

Course Introduction

    • 2 Videos
    • 4 Readings
    • 1 Discussion
    • 1 Assignment
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1 Assignment

  • Orientation Quiz

1 Discussions

  • Getting to Know Your Classmates

2 Videos

  • Meet Professor Nerissa Brown
  • Meet Professor Gary Hecht

4 Readings

  • Syllabus
  • Glossary
  • About the Discussion Forums
  • Updating Your Profile

Module 1 Information

    • 1 Videos
    • 2 Readings
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1 Videos

  • Module 1 Introduction

2 Readings

  • Module 1 Overview
  • Module 1 Readings

Lesson 1-1: Background and Fundamental Concepts

    • 3 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 1.1 Practice Quiz

3 Videos

  • What is Managerial Accounting?
  • The Differences Between Financial and Managerial Accounting
  • Contemporary Issues

Lesson 1-2: Cost Frameworks

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 1.2 Practice Quiz

4 Videos

  • Learning Objectives and Terminology
  • Cost Framework 1 - Objects
  • Cost Framework 2 - Behavior
  • Cost Framework 3 - Behavior Example

Lesson 1-3: Scenario Analysis

    • 7 Videos
    • 3 Assignment
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3 Assignment

  • Lesson 1.3 Practice Quiz #1
  • Lesson 1.3 Practice Quiz #2
  • Lesson 1.3 Practice Quiz #3

7 Videos

  • Learning Objectives and Cost-Volume-Profit Analysis Intro
  • Cost-Volume-Profit Analysis Example
  • Cost-Volume-Profit Analysis Multiple Products
  • Fundamental Concepts
  • Sunk Costs
  • Opportunity Costs
  • Common Mistakes

Module 1 Graded Assessments

    • 3 Assignment
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3 Assignment

  • Fundamental Concepts and Cost Frameworks Conceptual Quiz
  • Scenario Analysis Conceptual Quiz
  • Scenario Analysis Quantitative Quiz

Module 2 Information

    • 1 Videos
    • 2 Readings
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1 Videos

  • Module 2 Introduction

2 Readings

  • Module 2 Overview
  • Module 2 Readings

Lesson 2-1: Operational Budgeting

    • 7 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 2.1 Practice Quiz

7 Videos

  • Basic Terminology
  • Implications
  • Master Budget Overview
  • Sales Budget
  • Production Budget
  • Component Budget
  • Budgeting Income Statement

Lesson 2-2: Additional Budgets

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 2.2 Practice Quiz

4 Videos

  • Financing Budget Overview
  • Cash Budget - 1
  • Cash Budget - 2
  • Cash Budget - 3

Module 2 Graded Quizzes

    • 2 Assignment
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2 Assignment

  • Budgeting for Planning and Control Conceptual Quiz
  • Budgeting for Planning and Control Quantitative Analysis Quiz

Module 3 Information

    • 1 Videos
    • 2 Readings
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1 Videos

  • Module 3 Introduction

2 Readings

  • Module 3 Overview
  • Module 3 Readings

Lesson 3-1: Cost Variances

    • 7 Videos
    • 2 Assignment
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2 Assignment

  • Lesson 3-1.1 Practice Quiz
  • Lesson 3-1.2 Practice Quiz

7 Videos

  • Fundamentals and Concepts
  • Cost Variance Classification
  • Causes of Variance
  • An Example Scenario and Direct Materials Variances
  • Direct Labor Variances
  • Variable Overhead Variances
  • Fixed Overhead Variances

Lesson 3-2: Revenue Variances

    • 2 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 3-2 Practice Quiz

2 Videos

  • General Framework
  • An Example Scenario

Module 3 Graded Quizzes

    • 2 Assignment
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2 Assignment

  • Standard Costing and Variance Analysis Conceptual Quiz
  • Standard Costing and Variance Analysis Quantitative AnalisysQuiz

Module 4 Information

    • 1 Videos
    • 2 Readings
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1 Videos

  • Module 4 Introduction

2 Readings

  • Module 4 Overview
  • Module 4 Readings

Lesson 4-1: Decentralization and Financial Performance Measurement

    • 5 Videos
    • 1 Assignment
Show info about module content

1 Assignment

  • Lesson 4-1 Practice Quiz

5 Videos

  • Fundamentals and Concepts
  • Why is Financial Performance Important?
  • Return on Investment
  • The Underinvestment Problem
  • Residual Income

Lesson 4-2: Non-Financial Performance Measurement

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Lesson 4-2 Practice Quiz

4 Videos

  • Non-Financial Measures
  • Strategic Performance Measurement Systems
  • Performance Measurement Issues
  • Subjective Performance Evaluation

Module 4 Graded Quizzes

    • 1 Assignment
Show info about module content

1 Assignment

  • Performance Measurement and Evaluation Quiz

Auto Summary

Enhance your decision-making skills and analytical mindset with the "Financial Analysis of Scenarios and Decisions" course, designed for professionals in the Business & Management domain. Guided by expert instructors from Coursera, this foundational course delves into the financial intricacies of organizational decision-making and scenario analysis. Begin your journey by exploring the internal financial perspectives of organizations, where you'll grasp essential concepts on organizing cost information for varied decision scenarios. Gain proficiency in scenario analysis through cost-volume-profit analysis and other crucial financial decision-making tools. Advance your knowledge with lessons on planning and budgeting, enabling you to effectively allocate resources to meet organizational goals. Learn to evaluate actual performance against budgets with variance analysis, ensuring you can identify and address discrepancies. The course culminates with insights into performance measurement, evaluation, and compensation systems. Understand the pros and cons of various financial performance measures and discover how non-financial performance indicators complement financial metrics within a strategic performance measurement system. Offered through Coursera, this comprehensive 1020-minute course is available under Starter and Professional subscription plans. Ideal for individuals at a foundational level, this course is perfect for anyone looking to enhance their financial analytical skills and drive organizational success.

Gies College of Business, University of Illinois
Instructor

Gies College of Business, University of Illinois