About this Course
4.7
202 ratings
30 reviews
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....
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Globe

100% online courses

Start instantly and learn at your own schedule.
Calendar

Flexible deadlines

Reset deadlines in accordance to your schedule.
Clock

Suggested: 4 weeks of study, 6-8 hours/week

Approx. 19 hours to complete
Comment Dots

English

Subtitles: English

Skills you will gain

AccountingCostInvestmentAnalysis Of Variance (ANOVA)
Stacks
Globe

100% online courses

Start instantly and learn at your own schedule.
Calendar

Flexible deadlines

Reset deadlines in accordance to your schedule.
Clock

Suggested: 4 weeks of study, 6-8 hours/week

Approx. 19 hours to complete
Comment Dots

English

Subtitles: English

Syllabus - What you will learn from this course

1

Section
Clock
7 hours to complete

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....
Reading
18 videos (Total 55 min), 8 readings, 7 quizzes
Video18 videos
Fundamental Concepts2m
Sunk Costs3m
Opportunity Costs3m
Common Mistakes2m
What We've Learned in Lesson 1.1m
Learning Objectives and Overview1m
Keep or Drop a Product Line6m
Make or Buy8m
Replace or Retain Equipment6m
Additional Considerations2m
What We've Learned in Lesson 1.2m
Learning Objectives and Overview1m
Sell "As-Is" or Process Further4m
Accepting a Special Order7m
What We've Learned in Lesson 1.3m
Module 1 Reviewm
Like this course? Learn more with the iMBA! (Optional)1m
Reading8 readings
Syllabus10m
About this Course: Ratings and Reviews10m
About the Discussion Forums10m
Glossary10m
Social Media10m
Getting to Know Your Classmates10m
Module 1 Overview10m
Module 1 Readings20m
Quiz6 practice exercises
Orientation Quiz10m
Lesson 1.1 Practice Quiz10m
Lesson 1.2 Practice Quiz10m
Lesson 1.3 Practice Quiz6m
Module 1 - Conceptual Quiz20m
Module 1 - Quantitative Analysis Quiz10m

2

Section
Clock
5 hours to complete

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....
Reading
25 videos (Total 84 min), 2 readings, 6 quizzes
Video25 videos
Basic Terminology4m
Implications2m
What We've Learned in Lesson 2.1m
Master Budget Overview1m
Sales Budget2m
Production Budget4m
Component Budgets11m
Budgeted Income Statement3m
What We've Learned in Lesson 2.2m
Financing Budget Overview1m
Cash Budget - 13m
Cash Budget - 24m
Cash Budget - 36m
Extending the Example2m
What We've Learned in Lesson 2.3m
Capital Budgeting Overview1m
Example Scenario4m
Payback4m
Accounting Rate of Return3m
Time Horizon and Implications4m
Discounted Cash Flow and Net Present Value7m
Internal Rate of Return5m
What We've Learned in Lesson 2.4m
Module 2 Reviewm
Reading2 readings
Module 2 Overview10m
Module 2 Readingsm
Quiz6 practice exercises
Lesson 2.1 Practice Quiz6m
Lesson 2.2 Practice Quiz8m
Lesson 2.3 Practice Quiz6m
Lesson 2.4 Practice Quiz8m
Module 2 - Conceptual Quiz20m
Module 2 - Quantitative Analysis Quiz10m

3

Section
Clock
6 hours to complete

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....
Reading
13 videos (Total 78 min), 2 readings, 6 quizzes
Video13 videos
Cost Variance Classification and General Framework10m
Causes of Variances5m
An Example Scenario and Direct Materials Variances10m
Direct Labor Variances7m
Variable Overhead Variances3m
Fixed Cost Variances7m
Production Volume Variances5m
What We've Learned in Lesson 3.21m
Fundamentals and General Framework6m
An Example Scenario11m
What We've Learned in Lesson 3.3m
Module 3 Reviewm
Reading2 readings
Module 3 Overview10m
Module 3 Readingsm
Quiz5 practice exercises
Lesson 3.1 Practice Quiz8m
Lesson 3.2 Practice Quiz8m
Lesson 3.3 Practice Quiz6m
Module 3 - Conceptual Quiz16m
Module 3 - Quantitative Analysis Quiz10m

4

Section
Clock
2 hours to complete

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....
Reading
13 videos (Total 62 min), 2 readings, 4 quizzes
Video13 videos
What We've Learned in Lesson 4.1m
Why is Financial Performance Measurement Important?4m
Return on Investment4m
The Underinvestment Problem8m
Residual Income6m
What We've Learned in Lesson 4.2m
Non-Financial Measures4m
Strategic Performance Measurement Systems8m
Performance Measurement Issues7m
Subjective Performance Evaluation4m
What We've Learned in Lesson 4.31m
Module 4 Reviewm
Reading2 readings
Module 4 Overview10m
Module 4 Readings10m
Quiz4 practice exercises
Lesson 4.1 Practice Quiz6m
Lesson 4.2 Practice Quiz8m
Lesson 4.3 Practice Quiz8m
Module 4 Quiz24m
4.7
Direction Signs

50%

started a new career after completing these courses
Briefcase

83%

got a tangible career benefit from this course

Top Reviews

By ASOct 7th 2017

Enjoyed this course as part of the Online MBA from UIUC. The concepts are solidly explained with examples and plenty of practice exams that you can re-take unlimited times to test your understanding.

By SRDec 18th 2016

Great course, I does complement the Managerial Accounting course I took before. A lot of tools to apply in the work place. The videos and the examples are wonderful for the learning pourpose.

Instructor

Gary Hecht, Ph.D.

Associate Professor of Accountancy
Department of Accountancy, College of Business

About 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. ...

About the Value Chain Management Specialization

The purpose of organizations is to produce and deliver goods and services of value to customers while generating a surplus for owners. Value chain management focuses on understanding what different customers value, measuring inputs and outputs to assess value, and generating higher value for customers and greater surplus for organizations. In this Specialization, you will gain competencies that are critical for managers in any functional area. You will learn to create, model, analyze, and maximize value in accounting, operations, and marketing. This Specialization is part of the University of Illinois iMBA Program. Each course fulfills a portion of the requirements for a University of Illinois course that can earn you college credit. When you complete the Value Chain Management Specialization, you will: · Understand how to apply a financial perspective of accounting for costs, understand how financial and non-financial accounting information facilitates strategic performance measurement, and integrate this information to continuously improve strategy. · Understand the role of operations management and process improvement, synthesize information to make decisions for organizational initiatives, and apply analytical techniques for tactical operations and process improvement decisions. · Understand how marketing works in the business world and how various marketing elements interact to create value for consumers and ultimately maximize value for your organization....
Value Chain Management

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

More questions? Visit the Learner Help Center.