Managerial Accounting: Tools for Facilitating and Guiding Business Decisions

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About this course: In this course, you will explore how to use accounting to allocate resources and incentivize manager and employee behaviors in using 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. Upon successful completion of this course, you will be able to: • Understand the role of managerial accounting information in common business decisions • Differentiate relevant and irrelevant information • Avoid common pitfalls in business decisions • Prepare a master budget and its key components • Describe the iterative and inter…

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Didn't find what you were looking for? See also: Accounting, Business Administration, Bookkeeping, Corporate Finance, and Management Accounting.

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: In this course, you will explore how to use accounting to allocate resources and incentivize manager and employee behaviors in using 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. Upon successful completion of this course, you will be able to: • Understand the role of managerial accounting information in common business decisions • Differentiate relevant and irrelevant information • Avoid common pitfalls in business decisions • Prepare a master budget and its key components • Describe the iterative and interrelated nature of budgeting • Evaluate capital investments via a variety of measures • Understand how upper management uses variance analysis • Calculate, interpret, and investigate variances • Understand decentralization and its advantages and disadvantages • Compute and interpret financial performance measures • Communicate the role of non-financial measures and strategic performance measurement systems • Identify issues associated with performance measurement and incentives • Understand the nature and role of subjective performance evaluation This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.

Created by:  University of Illinois at Urbana-Champaign
  • Taught by:  Gary Hecht, Ph.D., Associate Professor of Accountancy

    Department of Accountancy, College of Business
Basic Info Course 2 of 7 in the Value Chain Management Specialization Commitment 4 weeks of study, 6-8 hours/week Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.6 stars Average User Rating 4.6See what learners said 课程作业

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University of Illinois at Urbana-Champaign The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.

Syllabus


WEEK 1


Course Overview and Relevant Information for Decision Making



In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. Decisions are at the heart of all organizations. In this module, you will also explore the nature and role of relevant information in common business decisions, and how such information facilitates these decisions and helps managers and employees avoid common pitfalls. You will also consider how the financial perspective adopted by accountants complements other, qualitative perspectives.


18 videos, 8 readings, 4 practice quizzes expand


  1. Video: Welcome and Course Overview
  2. 阅读: Syllabus
  3. 阅读: About this Course: Ratings and Reviews
  4. 阅读: About the Discussion Forums
  5. 阅读: Glossary
  6. 阅读: Social Media
  7. 阅读: Getting to Know Your Classmates
  8. 练习测验: Orientation Quiz
  9. 阅读: Module 1 Overview
  10. 阅读: Module 1 Readings
  11. Video: Fundamental Concepts
  12. Video: Sunk Costs
  13. Video: Opportunity Costs
  14. Video: Common Mistakes
  15. Video: What We've Learned in Lesson 1.1
  16. 练习测验: Lesson 1.1 Practice Quiz
  17. Video: Learning Objectives and Overview
  18. Video: Keep or Drop a Product Line
  19. Video: Make or Buy
  20. Video: Replace or Retain Equipment
  21. Video: Additional Considerations
  22. Video: What We've Learned in Lesson 1.2
  23. 练习测验: Lesson 1.2 Practice Quiz
  24. Video: Learning Objectives and Overview
  25. Video: Sell "As-Is" or Process Further
  26. Video: Accepting a Special Order
  27. Video: What We've Learned in Lesson 1.3
  28. Video: Module 1 Review
  29. 练习测验: Lesson 1.3 Practice Quiz
  30. Video: Like this course? Learn more with the iMBA! (Optional)

Graded: Module 1 - Conceptual Quiz
Graded: Module 1 - Quantitative Analysis Quiz
Graded: Module 1 Mini-Project

WEEK 2


Budgeting for Planning and Control



At the heart of an organization’s planning and control function is its budget. In this module, you will explore the purpose of budgeting, the role of managers and employees in budgeting, and related implications. You will also develop an organization’s budget, ultimately understanding the iterative nature among the budget’s key components: the operations, financing, and capital investments budgets.


25 videos, 2 readings, 4 practice quizzes expand


  1. 阅读: Module 2 Overview
  2. 阅读: Module 2 Readings
  3. Video: Fundamental Concepts
  4. Video: Basic Terminology
  5. Video: Implications
  6. Video: What We've Learned in Lesson 2.1
  7. 练习测验: Lesson 2.1 Practice Quiz
  8. Video: Master Budget Overview
  9. Video: Sales Budget
  10. Video: Production Budget
  11. Video: Component Budgets
  12. Video: Budgeted Income Statement
  13. Video: What We've Learned in Lesson 2.2
  14. 练习测验: Lesson 2.2 Practice Quiz
  15. Video: Financing Budget Overview
  16. Video: Cash Budget - 1
  17. Video: Cash Budget - 2
  18. Video: Cash Budget - 3
  19. Video: Extending the Example
  20. Video: What We've Learned in Lesson 2.3
  21. 练习测验: Lesson 2.3 Practice Quiz
  22. Video: Capital Budgeting Overview
  23. Video: Example Scenario
  24. Video: Payback
  25. Video: Accounting Rate of Return
  26. Video: Time Horizon and Implications
  27. Video: Discounted Cash Flow and Net Present Value
  28. Video: Internal Rate of Return
  29. Video: What We've Learned in Lesson 2.4
  30. Video: Module 2 Review
  31. 练习测验: Lesson 2.4 Practice Quiz

Graded: Module 2 - Conceptual Quiz
Graded: Module 2 - Quantitative Analysis Quiz

WEEK 3


Standard Costing and Variance Analysis



After establishing goals, setting targets, and the budget, upper management uses variance analysis to compare, assess, and investigate differences between actual and expected performance. In this module, you will learn how upper management uses variance analysis to motivate and monitor managers and employees, how to perform variance analysis on any aspect of the organization, and ultimately understand the power of this important tool for planning and control.


13 videos, 2 readings, 3 practice quizzes expand


  1. 阅读: Module 3 Overview
  2. 阅读: Module 3 Readings
  3. Video: Fundamentals and Concepts
  4. Video: Cost Variance Classification and General Framework
  5. Video: Causes of Variances
  6. 练习测验: Lesson 3.1 Practice Quiz
  7. Video: An Example Scenario and Direct Materials Variances
  8. Video: Direct Labor Variances
  9. Video: Variable Overhead Variances
  10. Video: Fixed Cost Variances
  11. Video: Production Volume Variances
  12. Video: What We've Learned in Lesson 3.2
  13. 练习测验: Lesson 3.2 Practice Quiz
  14. Video: Fundamentals and General Framework
  15. Video: An Example Scenario
  16. Video: What We've Learned in Lesson 3.3
  17. Video: Module 3 Review
  18. 练习测验: Lesson 3.3 Practice Quiz

Graded: Module 3 - Conceptual Quiz
Graded: Module 3 - Quantitative Analysis Quiz
Graded: Module 3 Mini-Project

WEEK 4


Performance Measurement and Evaluation



Accountants help implement, communicate, and evolve organizational strategy via the information they provide to owners, managers, and employees. Specifically, they help plan, monitor, and control decisions via the performance measurement, evaluation, and compensation system. In this module, you will explore many aspects of this important system, including decentralization, financial and non-financial performance measurement, strategic performance measurement systems, and subjective performance evaluation.


13 videos, 2 readings, 3 practice quizzes expand


  1. 阅读: Module 4 Overview
  2. 阅读: Module 4 Readings
  3. Video: Fundamentals and Concepts
  4. Video: What We've Learned in Lesson 4.1
  5. 练习测验: Lesson 4.1 Practice Quiz
  6. Video: Why is Financial Performance Measurement Important?
  7. Video: Return on Investment
  8. Video: The Underinvestment Problem
  9. Video: Residual Income
  10. Video: What We've Learned in Lesson 4.2
  11. 练习测验: Lesson 4.2 Practice Quiz
  12. Video: Non-Financial Measures
  13. Video: Strategic Performance Measurement Systems
  14. Video: Performance Measurement Issues
  15. Video: Subjective Performance Evaluation
  16. Video: What We've Learned in Lesson 4.3
  17. Video: Module 4 Review
  18. 练习测验: Lesson 4.3 Practice Quiz

Graded: Module 4 Quiz
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