This course is part of the Fundamentals of Accounting Specialization

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163 ratings

Gary Hecht, Ph.D.

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Fundamentals of Accounting SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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Accounting information is the lifeblood of the organization as it facilitates and influences operational and strategic decisions intended to achieve organizational goals. Organizations benefit from three decision-oriented roles of accounting: measurement, control, and communication. 
This course provides an introduction to accounting’s measurement role inside of an organization and how accountants communicate information that helps managers and employees make operational decisions. In particular, you will learn how cost information is created and organized to help managers and employees conduct profitability analyses, develop and choose products, make pricing decisions, and make common business decisions. 

Upon successful completion of this course, you will be able to:
•	Identify the nature, purpose, and importance of different types of decision-useful accounting information.
•	Create, organize, and communicate cost information to best suit common operational decisions. 
•	Use accounting information to manage products, control costs, and leverage other drivers of operational success.

If you enjoy this business course and are interested in an MBA, consider applying to the iMBA, a flexible, fully-accredited online MBA at an incredibly competitive price offered by the University of Illinois. For more information, please see the Resource page in this course and onlinemba.illinois.edu.

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Course 3 of 5 in the

Fundamentals of Accounting Specialization

Beginner Level

Approx. 16 hours to complete

English

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Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 3 of 5 in the

Fundamentals of Accounting Specialization

Beginner Level

Approx. 16 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

3.58/5 (17 Ratings)

Gary Hecht, Ph.D.

Associate Professor of Accountancy

Department of Accountancy, College of Business

99,087 Learners

9 Courses

Offered by

University of Illinois at Urbana-Champaign

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Syllabus - What you will learn from this course

Content Rating87%(1,494 ratings)

Week1

Week 1

2 hours to complete

Course Orientation

2 hours to complete

3 readings

2 hours to complete

Module 1: Introduction to Business Decision Making

2 hours to complete

7 videos (Total 14 min), 2 readings, 3 quizzes

7 videos

1-1.1. Overview of Business Decisions3m1-1.2. Application and Extension3m1-1.3. What We’ve Learned46s1-2.1. Overview of Managerial Accounting2m1-2.2. Decision-Making Roles of Managerial Accounting1m1-2.3. Application and Extension1m1-2.4. What We’ve Learned34s

2 readings

Module 1 Overview10mModule 1 Readings20m

3 practice exercises

Lesson 1-1 Practice Quiz30mLesson 1-2 Practice Quiz30mModule 1 Conceptual Quiz15m

Week2

Week 2

3 hours to complete

Module 2: Cost Concepts and Perspectives

3 hours to complete

9 videos (Total 40 min), 2 readings, 3 quizzes

9 videos

2-1.1. Defining Costs2m2-1.2. Application and Extension2m2-1.3. What We’ve Learned52s2-2.1. Importance of Organizing Cost Information2m2-2.2. Organizing Costs by Product8m2-2.3. Further Refinements7m2-2.4. Organizing Costs by Behavior8m2-2.5. Application and Extension6m2-2.6. What We’ve Learned1m

2 readings

Module 2 Overview10mModule 2 Readings30m

3 practice exercises

Lesson 2-1 Practice Quiz30mLesson 2-2 Practice Quiz30mModule 2 Conceptual Quiz30m

Week3

Week 3

4 hours to complete

Module 3: Managing Products and Profitability

4 hours to complete

8 videos (Total 31 min), 2 readings, 5 quizzes

8 videos

3-1.1. Measuring Profitability According to Cost Behavior4m3-1.2. Defining and Using Cost-Volume-Profit Analysis4m3-1.3. Application and Extension6m3-1.4. What We’ve Learned41s3-2.1. Interpreting CVP Analysis6m3-2.2. Limitations of CVP Analysis2m3-2.3. Application and Extension5m3-2.4. What We’ve Learned42s

2 readings

Module 3 Overview10mModule 3 Readings40m

4 practice exercises

Lesson 3-1 Practice Quiz30mLesson 3-2 Practice Quiz30mModule 3 Conceptual Quiz30mModule 3 Quantitative Analysis Quiz30m

Week4

Week 4

5 hours to complete

Module 4: Managing Operations and Sales

5 hours to complete

10 videos (Total 54 min), 3 readings, 5 quizzes

10 videos

4-1.1. Identify Common Operations-Based Decisions4m4-1.2. Creating and Using Relevant Information3m4-1.3. Application – Make or Buy?11m4-1.4. Application – Manage Product Lines9m4-1.5. What We’ve Learned41s4-2.1. Identify Common Sales Decisions2m4-2.2. Application – Special Orders9m4-2.3. Application – Sell Now, or Process Further?8m4-2.4. What We’ve Learned35sGies Online Programs3m

3 readings

Module 4 Overview10mModule 4 Readings40mCongratulations!10m

4 practice exercises

Lesson 4-1 Practice Quiz30mLesson 4-2 Practice Quiz30mModule 4 Conceptual Quiz30mModule 4 Quantitative Analysis Quiz30m

Reviews

3.9

35 reviews

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TOP REVIEWS FROM ACCOUNTING FOR BUSINESS DECISION MAKING: MEASUREMENT AND OPERATIONAL DECISIONS

by SWMar 20, 2020

The materials are really easy to understand especially how to distinguish job and process costing

by MMNov 20, 2020

Quizzez can be tricky and difficult. But the peer-review homework is interesting.

by DKJun 26, 2018

This is very useful course to learn Business decision

by JTDec 15, 2021

The course itself was informative, but the wording of some questions in the quizzes leaves a lot to be desired.

View all reviews

About the Fundamentals of Accounting Specialization

Accounting is the “language of business.” Being able to understand this language allows individuals both inside and outside of an organization to join the “conversation” about how the organization is performing and how it can improve future performance. Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the right business decisions.

In this Specialization, you will learn the fundamentals of both of these purposes of accounting. More specifically, you will understand the financial statements that managers create, and be able to interpret and analyze these statements to assess the financial position of the organization. You will also identify and understand the nature, purpose, and importance of different types of decision-useful accounting information, and use analytical tools and techniques to use this information to make business decisions. Via the capstone, you will apply these fundamentals via the lens of a new business, creating a business plan, forecasts and budgets, and anticipated information needs for decisions made by you as owner and manager, your employees, and external parties such as future shareholders, creditors, and other constituents.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
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.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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