Managerial Accounting: Tools for Facilitating and Guiding Business Decisions
In this course, you will explore how to use accounting to allocate resources and incentivize manager and employee behaviors with these resources.
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- Level Foundation
- Duration 25 hours
- Course by University of Illinois Urbana-Champaign
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Offered by
About
In this course, you will explore how to use accounting to allocate resources and incentivize manager and employee behaviors with these resources. You will also learn how financial and non-financial accounting information facilitates strategic performance measurement and how to integrate this information to continuously improve strategy. You will be able to: - Understand the role of managerial accounting information and use it to avoid common pitfalls in business decisions - Understand the iterative and interrelated nature of budgeting and apply the key components to preparing a master budget - Evaluate capital investments via a variety of measures - Calculate, interpret, and investigate variances - Understand decentralization and its advantages and disadvantages - Communicate the role of non-financial measures and strategic performance measurement systems - Compute and interpret financial performance measures and identify associate issues This course is part of Gies College of Business' suite of online programs, including the iMBA and iMSM.Modules
About the Course and Your Classmates
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2
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7
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1
Quiz
2
Videos
- Welcome and Course Overview
- Learn on Your Terms
7
Readings
- Syllabus
- About this Course: Ratings and Reviews
- About the Discussion Forums
- Glossary
- Getting to Know Your Classmates
- Updating Your Profile
- Online Education at Gies College of Business
1
Quiz
- Orientation Quiz
Module 1 Overview
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2
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Readings
- Module 1 Overview
- Module 1 Readings
Lesson 1.1: Conceptual Overview of Relevance
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1
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5
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- Fundamental Concepts
- Sunk Costs
- Opportunity Costs
- Common Mistakes
- What We've Learned in Lesson 1.1
1
Quiz
- Lesson 1.1 Practice Quiz
Lesson 1.2: Common Decisions - 1
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6
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1
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6
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- Learning Objectives and Overview
- Keep or Drop a Product Line
- Make or Buy
- Replace or Retain Equipment
- Additional Considerations
- What We've Learned in Lesson 1.2
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Quiz
- Lesson 1.2 Practice Quiz
Lesson 1.3: Common Decisions - 2
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1
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4
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- Learning Objectives and Overview
- Sell "As-Is" or Process Further
- Accepting a Special Order
- What We've Learned in Lesson 1.3
1
Quiz
- Lesson 1.3 Practice Quiz
Module 1 Review
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1
Videos
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2
Assignment
2
Assignment
- Relevant Information for Decision Making: Conceptual Quiz
- Relevant Information for Decision Making: Quantitative Analysis Quiz
1
Videos
- Module 1 Review
Module 1 Honors Assignment
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1
PeerReview
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Peer Review
- Module 1 Mini-Project
Module 2 Overview
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2
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- Module 2 Overview
- Module 2 Readings
Lesson 2.1: Fundamentals of Standard Costing and Variance Analysis
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3
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1
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3
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- Fundamentals and Concepts
- Cost Variance Classification and General Framework
- Causes of Variances
1
Quiz
- Lesson 2.1 Practice Quiz
Lesson 2.2: Calculating and Interpreting Cost Variances
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6
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1
Quiz
6
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- An Example Scenario and Direct Materials Variances
- Direct Labor Variances
- Variable Overhead Variances
- Fixed Cost Variances
- Production Volume Variances
- What We've Learned in Lesson 2.2
1
Quiz
- Lesson 2.2 Practice Quiz
Lesson 2.3: Revenue Variances
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3
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1
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3
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- Fundamentals and General Framework
- An Example Scenario
- What We've Learned in Lesson 2.3
1
Quiz
- Lesson 2.3 Practice Quiz
Module 2 Review
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1
Videos
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2
Quiz
1
Videos
- Module 2 Review
2
Quiz
- Standard Costing and Variance Analysis Conceptual Quiz
- Standard Costing and Variance Analysis Quantitative Analysis Quiz
Module 2 Honors Assignment
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1
PeerReview
1
Peer Review
- Module 2 Mini-Project
Module 3 Overview
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2
Readings
2
Readings
- Module 3 Overview
- Module 3 Readings
Lesson 3.1: Decentralization and Performance Measurement
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1
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2
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- Fundamentals and Concepts
- What We've Learned in Lesson 3.1
1
Quiz
- Lesson 3.1 Practice Quiz
Lesson 3.2: Financial Performance Measurement
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5
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1
Quiz
5
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- Why is Financial Performance Measurement Important?
- Return on Investment
- The Underinvestment Problem
- Residual Income
- What We've Learned in Lesson 3.2
1
Quiz
- Lesson 3.2 Practice Quiz
Lesson 3.3: Non-Financial Performance Measurement
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5
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1
Quiz
5
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- Non-Financial Measures
- Strategic Performance Measurement Systems
- Performance Measurement Issues
- Subjective Performance Evaluation
- What We've Learned in Lesson 3.3
1
Quiz
- Lesson 3.3 Practice Quiz
Module 3 Review
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1
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1
Assignment
1
Assignment
- Performance Measurement and Evaluation Quiz
1
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- Module 3 Review
Module 4 Overview
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2
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2
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- Module 4 Overview
- Module 4 Readings
Lesson 4.1: Fundamentals of Budgeting
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4
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1
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4
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- Fundamental Concepts
- Basic Terminology
- Implications
- What We've Learned in Lesson 4.1
1
Quiz
- Lesson 4.1 Practice Quiz
Lesson 4.2: Operations Budgeting
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6
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1
Quiz
6
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- Master Budget Overview
- Sales Budget
- Production Budget
- Component Budgets
- Budgeted Income Statement
- What We've Learned in Lesson 4.2
1
Quiz
- Lesson 4.2 Practice Quiz
Lesson 4.3: Financing Budgeting
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6
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1
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6
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- Financing Budget Overview
- Cash Budget - 1
- Cash Budget - 2
- Cash Budget - 3
- Extending the Example
- What We've Learned in Lesson 4.3
1
Quiz
- Lesson 4.3 Practice Quiz
Lesson 4-4: Capital Budgeting
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8
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1
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8
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- Capital Budgeting Overview
- Example Scenario
- Payback
- Accounting Rate of Return
- Time Horizon and Implications
- Discounted Cash Flow and Net Present Value
- Internal Rate of Return
- What We've Learned in Lesson 4.4
1
Quiz
- Lesson 4.4 Practice Quiz
Module 4 Review
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1
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2
Quiz
1
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- Module 4 Review
2
Quiz
- Budgeting for Planning and Control: Conceptual Quiz
- Budgeting for Planning and Control: Quantitative Analysis Quiz
Congratulations
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2
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2
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- Congratulations on completing the course!
- Get Your Course Certificate
Auto Summary
Unlock the potential of managerial accounting to drive strategic business decisions with this comprehensive course designed for business and management professionals. Delve into the use of accounting for effective resource allocation and behavioral incentivization of managers and employees. Gain insights into how financial and non-financial accounting information can facilitate strategic performance measurement and continuous strategy improvement. Throughout the course, you will: - Master the role of managerial accounting information to make informed business decisions and avoid common pitfalls. - Learn the iterative nature of budgeting and how to prepare a master budget. - Evaluate capital investments using various financial measures. - Calculate, interpret, and investigate variances. - Understand the benefits and drawbacks of business decentralization. - Communicate the significance of non-financial measures and strategic performance measurement systems. - Compute and interpret financial performance measures, identifying associated issues. Part of the esteemed Gies College of Business' online suite, this course is a stepping stone for further advanced programs like the iMBA and iMSM. Discover how your Coursera achievements can contribute to your admission into these prestigious degree programs by visiting https://degrees.giesbusiness.illinois.edu/idegrees/. With a duration of 1500 hours, the course offers flexible subscription options including Starter, Professional, and Paid plans, catering to a foundational level of expertise. Ideal for aspiring and current business managers, this course is your gateway to mastering managerial accounting and enhancing your strategic decision-making skills.
Gary Hecht, Ph.D.