This course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the fundamentals of managerial accounting including how to navigate the financial and related information managers need to help them make decisions. You'll learn about cost behavior and cost allocation systems, how to conduct cost-volume-profit analysis, and how to determine if costs and benefits are relevant to your decisions.
Offered By
Managerial Accounting Fundamentals
University of VirginiaAbout this Course
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Learner Career Outcomes
33%
got a tangible career benefit from this course
Shareable Certificate
Earn a Certificate upon completion
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Flexible deadlines
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Beginner Level
No prior experience needed to participate in and benefit from this course.
Approx. 13 hours to complete
English
Subtitles: English
What you will learn
Different types of costs and how they are represented graphically
Cost-volume-profit analyses to answer questions around breaking even and generating profit
How to calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
How to distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision
Learner Career Outcomes
33%
got a tangible career benefit from this course
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Flexible deadlines
Reset deadlines in accordance to your schedule.
Beginner Level
No prior experience needed to participate in and benefit from this course.
Approx. 13 hours to complete
English
Subtitles: English
Offered by
University of Virginia
A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
Syllabus - What you will learn from this course
3 hours to complete
MANAGERIAL ACCOUNTING AND COST BEHAVIOR
Welcome to the course -- we're glad you're here! During this first week, we'll distinguish managerial from financial accounting, including the financial and related information managers need to help them make decisions. We'll then move on to cost behavior including different types of costs, their classifications, and how these classifications help with decision-making. From there, we'll show how to use a scatterplot and the high-low method to estimate cost functions. Let's get started!
3 hours to complete
16 videos (Total 71 min), 2 readings, 3 quizzes
16 videos
What Is Managerial Accounting?1m
Three Sets of Books3m
Financial Versus Managerial Accounting2m
Different Costs for Different Purposes2m
Different Costs in More Detail7m
Cost Behavior3m
Using a Line to Represent Cost Behavior2m
Estimating Cost Functions Using Scatter Plots5m
Your Turn: Estimating Cost Functions Using Scatter Plots Problem 15m
Your Turn: Estimating Cost Functions Using Scatter Plots Problem 24m
Estimating Cost Functions Using the High-Low Method5m
Your Turn: Estimating Cost Functions Using the High-Low Method Problem 17m
Your Turn: Estimating Cost Functions Using the High Low Method Problem 25m
Important Caveats10m
JW Sports Supplies Case Introduction1m
2 readings
Course Overview10m
Welcome to Honors!10m
3 practice exercises
Week 1 Practice Quiz30m
Week 1 Graded Quiz30m
Week 1 Honors Graded Quiz30m
5 hours to complete
COST-VOLUME-PROFIT ANALYSIS
Now that we've learned the fundamentals of cost behavior, we're ready to move on to discussing the relationships between cost structure, volume, price, and profit. We'll then see why these relationships matter as we conduct cost-volume-profit analyses to answer questions around breaking even and generating profit.
5 hours to complete
15 videos (Total 50 min)
15 videos
What Is CVP Analysis?2m
Functional Versus Contribution Margin Income Statements4m
Breakeven Analysis4m
Your Turn: Breakeven Analysis Company A2m
Your Turn: Breakeven Analysis Company B1m
Your Turn: Breakeven Analysis Company C2m
Your Turn: Breakeven Analysis Company D3m
Interested in Doing More than Breakeven?3m
Your Turn: Doing More than Breakeven Company A3m
Your Turn: Doing More than Breakeven Company B3m
Your Turn: Doing More than Breakeven Company C2m
Your Turn: Doing More than Breakeven Company D2m
CVP Analysis with Multiple Products5m
Your Turn: CVP Analysis with Multiple Products6m
4 practice exercises
Week 2 Practice Quiz30m
Week 2 Graded Quiz30m
Week 2 Honors Graded Quiz 130m
Week 2 Honors Graded Quiz 230m
3 hours to complete
COST ALLOCATION
After learning how to conduct cost-volume-profit analyses, we're ready to discuss cost allocation and the different types of systems we can use: traditional and activity-based. From there, we'll learn how to calculate overhead rates and allocate overhead within both types of systems.
3 hours to complete
14 videos (Total 75 min), 1 reading, 3 quizzes
14 videos
The Flow of Costs4m
The Flow of Costs in More Detail4m
Cost Systems5m
Allocating Overhead Costs5m
Designing Cost Allocation Systems2m
Your Turn: Allocating Overhead Costs Problem 15m
Your Turn: Allocating Overhead Costs Problem 24m
Traditional Cost Allocation Systems4m
Activity-Based Costing12m
Beyond Manufacturing Costs6m
Your Turn: Activity-Based Costing Problem 18m
Your Turn: Activity-Based Costing Problem 28m
To Use Activity-Based Costing or Not?53s
1 reading
JW Sports Supplies Case (Part B)10m
3 practice exercises
Week 3 Practice Quiz30m
Week 3 Graded Quiz30m
Week 3 Honors Graded Quiz30m
2 hours to complete
RELEVANT COSTS AND BENEFITS
In our final week, we'll discuss costs and benefits, and gain an understanding of those that are relevant for a given decision. We'll evaluate the financial impact of a given decision, then determine a reasonable course of action.
2 hours to complete
14 videos (Total 64 min)
14 videos
Relevant Costs and Benefits3m
Important Terms2m
Relevant Costs in an Example4m
Your Turn: Relevant Costs and Benefits4m
Special Order Decision7m
Your Turn: Special Order Decision3m
Make or Buy Decision5m
Your Turn: Make or Buy Decision4m
Keep or Drop a Product Line Decision5m
Your Turn: Keep or Drop a Product Line Decision4m
Product Mix Decisions10m
Your Turn: Product Mix Decisions4m
Course Conclusion1m
2 practice exercises
Week 4 Practice Quiz30m
Week 4 Graded Quiz30m
Reviews
TOP REVIEWS FROM MANAGERIAL ACCOUNTING FUNDAMENTALS
by SApr 7, 2020
Hi! I loved the course. The prof is so nice and deliver all information so easily and understandable even for the person with absolutely another sphere.\n\nThank you! I recommend it 100%
by KBMar 2, 2020
There were a lot of good example problems that were very beneficial to understanding the concepts, however some of the exam questions were difficult to go back and completely understand.
by CAAug 12, 2020
Excellent course, very useful and applicable. Excellent teacher. Some writing errors in the quizzes and exercises, but for everything else, it was excellent. I learned a lot.
by NJul 5, 2020
this course very convenient for mangers . Mrs Luann J. Lynch is great instructor , i really love the way she taught us. thanks to her for making Managerial Accounting so easy .
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