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.
This course is part of the Value Chain Management Specialization
Managerial Accounting: Cost Behaviors, Systems, and Analysis
Offered By
About this Course
4.7
320 ratings
Skills you will gain
Management AccountingCost AccountingActivity Based CostingCost
Syllabus - What you will learn from this course
Week
1Course 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 (Total 34 min), 8 readings, 4 quizzes
12 videos
Learning Objectives and What is Managerial Accounting4m
The Difference Between Financial and Managerial Accounting5m
Contemporary Issues2m
What We've Learned in Lesson 1.1m
Learning Objectives and Terminology2m
Cost Framework 1 - Objects3m
Cost Framework 2 - Behavior3m
Cost Framework 2 - Behavior Example5m
What We've Learned in Lesson 1.2m
Module 1 Reviewm
Like this course? Learn more with the iMBA! (Optional)1m
8 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
4 practice exercises
Orientation Quiz10m
Lesson 1.1 Practice Quiz10m
Lesson 1.2 Practice Quiz10m
Module 1 Quiz24m
Week
2Costing 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 (Total 34 min), 2 readings, 3 quizzes
8 videos
Two Traditional Systems3m
Extension - Overhead Costs6m
What We've Learned in Lesson 2.1m
Learning Objectives and Example Scenario9m
The Manager Did What?7m
What We've Learned in Lesson 2.2m
Module 2 Reviewm
2 readings
Module 2 Overview10m
Module 2 Readings20m
3 practice exercises
Lesson 2.1 Practice Quiz10m
Lesson 2.2 Practice Quiz10m
Module 2 Quiz28m
Week
3Costing 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 (Total 42 min), 2 readings, 4 quizzes
8 videos
Fundamental Components3m
ABC Organization and Steps to Implementation7m
What We've Learned in Lesson 3.11m
Learning Objectives and Steps Through an Example19m
Other Considerations4m
What We've Learned in Lesson 3.2m
Module 3 Reviewm
2 readings
Module 3 Overview10m
Module 3 Readings20m
3 practice exercises
Lesson 3.1 Practice Quiz10m
Lesson 3.2 Practice Quiz4m
Module 3 Quiz24m
Week
4Cost-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 (Total 42 min), 2 readings, 5 quizzes
7 videos
Cost-Volume-Profit Analysis Example 18m
Cost-Volume-Profit Analysis Example 2 - Taxes10m
What We've Learned in Lesson 4.11m
Learning Objectives and Cost-Volume-Profit Example 3 - Multiple Products12m
What We've Learned in Lesson 4.2m
Module 4 Reviewm
2 readings
Module 4 Overview10m
Module 4 Readingsm
4 practice exercises
Lesson 4.1 Practice Quiz10m
Lesson 4.2 Practice Quiz2m
Module 4 Quiz - Concepts20m
Module 4 Quiz - Quantitative Analysis10m
4.7
Top Reviews
By AS•Oct 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 W•Nov 20th 2017
The topics are very precise and straight forward to the practice, I just would like to say that more practice would be fantastic with real cases but the time to complete the task is to short
Instructor
Gary Hecht, Ph.D.
Associate Professor of AccountancyDepartment of Accountancy, College of Business
Start working towards your Master's degree
This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign.
If you are admitted to the full program, your courses count towards your degree learning.
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.
Frequently Asked Questions
When will I have access to the lectures and assignments?
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.
What will I get if I subscribe to this Specialization?
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.
What is the refund policy?
Is financial aid available?
More questions? Visit the Learner Help Center.
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