This course is part of the Fundamentals of Accounting Specialization

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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 role in helping managers develop and implement, and improve the organization’s strategy. In particular, you will learn how non-financial and financial information is created, organized, and communicated to help managers make strategic decisions, as well as measure strategic success. This course also provides an introduction to accounting as a control function inside the organization, which helps influence the alignment of managers’ and employees’ decisions with organizational goals. You will learn about different types of controls, including process controls, budgets, and performance measurement and evaluation tools and techniques. 

Upon successful completion of this course, you will be able to:

•	Create and communicate accounting information that facilitates strategic decisions.
•	Use accounting information to develop, implement, and improve organizational strategy. 
•	Implement controls that align managers’ and employees’ decisions with organizational goals. 
•	Measure and evaluate manager and employee performance to control and motivate operational and strategic decision-making.

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 4 of 5 in the

Fundamentals of Accounting Specialization

Beginner Level

Approx. 15 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.

Course 4 of 5 in the

Fundamentals of Accounting Specialization

Beginner Level

Approx. 15 hours to complete

English

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Instructor

Instructor rating

3.1/5 (11 Ratings)

Gary Hecht, Ph.D.

Associate Professor of Accountancy

Department of Accountancy, College of Business

99,729 Learners

9 Courses

Offered by

University of Illinois at Urbana-Champaign

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Syllabus - What you will learn from this course

Week1

Week 1

2 hours to complete

Course Orientation

2 hours to complete

3 readings

3 hours to complete

Module 1: Managing Capacity

3 hours to complete

8 videos (Total 49 min), 2 readings, 4 quizzes

8 videos

1-1.1. Defining and Measuring Capacity7m1-1.2. Implications of Capacity Measurement4m1-1.3. Application and Extension10m1-1.4. What We’ve Learned27s1-2.1. Identifying Constraints4m1-2.2. Managing Constraints5m1-2.3. Application and Extension5m1-2.4. What We’ve Learned10m

2 readings

Module 1 Overview10mModule 1 Readings30m

4 practice exercises

Lesson 1-1 Practice Quiz15mLesson 1-2 Practice Quiz15mModule 1 Conceptual Quiz30mModule 1 Quantitative Analysis Quiz30m

Week2

Week 2

3 hours to complete

Module 2: Managing Pricing

3 hours to complete

8 videos (Total 38 min), 2 readings, 4 quizzes

8 videos

2-1.1. Pricing Fundamentals4m2-1.2. Pricing Mechanisms3m2-1.3. Application and Extension4m2-1.4. What We’ve Learned31s2-2.1. Decentralization and Reporting8m2-2.2. Transfer Pricing Approaches4m2-2.3. Application and Extension12m2-2.4. What We’ve Learned29s

2 readings

Module 2 Overview10mModule 2 Readings30m

4 practice exercises

Lesson 2-1 Practice Quiz15mLesson 2-2 Practice Quiz15mModule 2 Conceptual Quiz30mModule 2 Quantitative Analysis Quiz30m

Week3

Week 3

4 hours to complete

Module 3: Planning and Monitoring Operations

4 hours to complete

8 videos (Total 57 min), 2 readings, 5 quizzes

8 videos

3-1.1. Budgeting in Organizations2m3-1.2. Types of Budgets3m3-1.3. Application and Extension18m3-1.4. What We’ve Learned26s3-2.1. Standards and Variance Analysis2m3-2.2. Variance Analysis Concepts and Framework8m3-2.3. Application and Extension19m3-2.4. What We’ve Learned29s

2 readings

Module 3 Overview10mModule 3 Readings30m

4 practice exercises

Lesson 3-1 Practice Quiz15mLesson 3-2 Practice Quiz15mModule 3 Conceptual Quiz30mModule 3 Quantitative Analysis Quiz30m

Week4

Week 4

4 hours to complete

Module 4: Managing Organizational Strategy

4 hours to complete

9 videos (Total 33 min), 3 readings, 4 quizzes

9 videos

4-1.1. Defining Strategy3m4-1.2. Measure Attributes and Qualities7m4-1.3. Financial Measures4m4-1.4. What We’ve Learned34s4-2.1. Non-financial Measures4m4-2.2. Purpose of Strategic Performance Measurement Systems2m4-2.3. The Balanced Scorecard5m4-2.4. What We’ve Learned1mGies Online Programs3m

3 readings

Module 4 Overview10mModule 4 Readings30mCongratulations!10m

3 practice exercises

Lesson 4-1 Practice Quiz15mLesson 4-2 Practice Quiz15mModule 4 Conceptual Quiz30m

Reviews

4.0

29 reviews

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1 star
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TOP REVIEWS FROM ACCOUNTING FOR BUSINESS DECISION MAKING: STRATEGY ASSESSMENT AND CONTROL

by MAApr 25, 2020

Good pace of introducing concepts which made the course learner-friendly.

by MAFeb 17, 2018

Hello

to all how works in this course thank you

by AANov 19, 2020

Some errors in quizzes need to be corrected, especially Week 1

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.

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Accounting for Business Decision Making: Strategy Assessment and Control

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