4.8
stars
596 ratings
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142 reviews

Luann J. Lynch

44,033 already enrolled

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Managerial Accounting Fundamentals

University of Virginia

About this Course

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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. 
By the end of this course, you will be able to:
- Describe different types of costs and how they are represented graphically
- Conduct cost-volume-profit analyses to answer questions around breaking even and generating profit
- Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
- Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision
- Determine a reasonable course of action, given the financial impact, for a given management decision

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.

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 13 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish

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

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.

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 13 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish

Instructor

Instructor rating

4.84/5 (176 Ratings)

Luann J. Lynch

Almand R. Coleman Professor of Business Administration

Darden School of Business

153,675 Learners

2 Courses

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

Content Rating97%(2,736 ratings)

Week

Week 1

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

Welcome and Course Overview56s

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

Week

Week 2

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

Week 2 Overview48s

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

Week

Week 3

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

Week 3 Overview36s

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

Week

Week 4

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

Week 4 Overview1m

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

4.8

142 reviews

5 stars
84.29%
4 stars
13.88%
3 stars
0.66%
2 stars
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1 star
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TOP REVIEWS FROM MANAGERIAL ACCOUNTING FUNDAMENTALS

by JNJun 29, 2020

The examples, exercises and tests ensure that the concepts are understood through and through. Further, Honors content is a definite booster.

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 KDOct 8, 2021

Concepts are presented clearly, with examples built upon from lesson to lesson. Really enjoyed learning about the basics of Managerial Accounting.

by WHJul 20, 2021

I enjoyed this course, the videos and especially the instructor were easy to follow. I have a better understanding of managerial accounting.

View all reviews

Frequently Asked Questions

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What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, 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.

Managerial Accounting Fundamentals

Managerial Accounting Fundamentals