About this course: In this course, you will learn how to use accounting to facilitate and align decisions made by owners, managers, and employees. You will learn how accountants create, organize, interpret, and communicate information that improves internal processes, and allows organizations to identify and leverage opportunities to create value within the supply chain and with customers. Upon successful completion of this course, you will be able to: • Understand what managerial accounting is and why it is important. • Describe fundamental concepts of managerial accounting. • Apply the financial perspective of accounting for costs. • Identify problems associated with relying on financial accounting information for internal decision making. • Organize cost information according to the decision-making needs of the organization. • Apply activity-based costing (ABC) and recognize the influence of setting and decision characteristics on the relevance of ABC systems. • Address common "what-if" questions using cost-volume-profit (CVP) analysis. • Apply CVP analysis in a variety of scenarios. 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 1 of 7 in the Value Chain Management Specialization |
| Commitment | 4 weeks of study, 6-8 hours/week |
| Language | English, Subtitles: Vietnamese |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Complete this course to work toward:
Value Chain Management Specialization
This course is part of the 7-course Value Chain Management Specialization from University of Illinois at Urbana-Champaign
Master of Business Administration (iMBA)
This course is part of the fully-online 18 courses plus three capstone projects degree program
Syllabus
WEEK 1
Course Overview and Introduction to Managerial Accounting
In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. Then, you will be introduced to Managerial Accounting and Costing Concepts.
12 videos, 8 readings, 3 practice quizzes
- Video: Welcome and Course Overview
- Reading: Syllabus
- Reading: About this Course: Ratings and Reviews
- Reading: About the Discussion Forums
- Reading: Glossary
- Reading: Social Media
- Reading: Getting to Know Your Classmates
- Practice Quiz: Orientation Quiz
- Reading: Module 1 Overview
- Reading: Module 1 Readings
- Video: Learning Objectives and What is Managerial Accounting
- Video: The Difference Between Financial and Managerial Accounting
- Video: Contemporary Issues
- Video: What We've Learned in Lesson 1.1
- Practice Quiz: Lesson 1.1 Practice Quiz
- Video: Learning Objectives and Terminology
- Video: Cost Framework 1 - Objects
- Video: Cost Framework 2 - Behavior
- Video: Cost Framework 2 - Behavior Example
- Video: What We've Learned in Lesson 1.2
- Video: Module 1 Review
- Practice Quiz: Lesson 1.2 Practice Quiz
- Video: Like this course? Learn more with the iMBA! (Optional)
Graded: Module 1 Quiz
WEEK 2
Costing Systems I - Elements and Design
Organizations can organize cost information however best suits their decisions. In this module, we introduce the role of costing systems, identify some example systems and settings in which they are most useful, and explore how accounting for overhead costs influences the value of cost information.
8 videos, 2 readings, 2 practice quizzes
- Reading: Module 2 Overview
- Reading: Module 2 Readings
- Video: Learning Objectives and Flow of Costs Through Financial Statements
- Video: Two Traditional Systems
- Video: Extension - Overhead Costs
- Video: What We've Learned in Lesson 2.1
- Practice Quiz: Lesson 2.1 Practice Quiz
- Video: Learning Objectives and Example Scenario
- Video: The Manager Did What?
- Video: What We've Learned in Lesson 2.2
- Video: Module 2 Review
- Practice Quiz: Lesson 2.2 Practice Quiz
Graded: Module 2 Quiz
WEEK 3
Costing Systems II - Activity-Based Costing
Activity-based costing systems adopt a more refined view of the organization, and can increase the accuracy of cost information. In this module, we introduce the fundamentals of activity-based costing systems, identify related advantages and disadvantages, and demonstrate how such systems are implemented using an in-depth example.
8 videos, 2 readings, 2 practice quizzes
- Reading: Module 3 Overview
- Reading: Module 3 Readings
- Video: Learning Objectives and General Approach and Overview
- Video: Fundamental Components
- Video: ABC Organization and Steps to Implementation
- Video: What We've Learned in Lesson 3.1
- Practice Quiz: Lesson 3.1 Practice Quiz
- Video: Learning Objectives and Steps Through an Example
- Video: Other Considerations
- Video: What We've Learned in Lesson 3.2
- Video: Module 3 Review
- Practice Quiz: Lesson 3.2 Practice Quiz
Graded: Module 3 Mini-Project
Graded: Module 3 Quiz
WEEK 4
Cost-Volume-Profit (CVP) Analysis
Cost-volume-profit (CVP) analysis is the tool that managers can use to better understand the answers to "what-if" questions in order to make better decisions for their companies. In this module you will explore the power of CVP analysis.
7 videos, 2 readings, 2 practice quizzes
- Reading: Module 4 Overview
- Reading: Module 4 Readings
- Video: Learning Objectives and Cost-Volume-Profit Analysis Intro
- Video: Cost-Volume-Profit Analysis Example 1
- Video: Cost-Volume-Profit Analysis Example 2 - Taxes
- Video: What We've Learned in Lesson 4.1
- Practice Quiz: Lesson 4.1 Practice Quiz
- Video: Learning Objectives and Cost-Volume-Profit Example 3 - Multiple Products
- Video: What We've Learned in Lesson 4.2
- Video: Module 4 Review
- Practice Quiz: Lesson 4.2 Practice Quiz
Graded: Module 4 Mini-Project
Graded: Module 4 Quiz - Concepts
Graded: Module 4 Quiz - Quantitative Analysis
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Pricing
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| Access to course materials | Available |
| Access to graded materials | Available |
| Receive a final grade | Available |
| Earn a shareable Course Certificate | Available |
Ratings and Reviews
Excelente curso, bien explicado y completo
Concise yet quite exhaustive!
Reading material is also quite engaging.
Great Course that gives you the basics of Costing and it's relevant in regular Business decisions. Well articulated to ensure that people new to the concepts also understand it clearly!
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Fabulous course, so insightful and enlightening.