About this course: This course 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.
Who is this class for: This course is beginner level; it does not require any prior experience with accounting. It is designed for anyone with an interest in the fundamentals of managerial accounting.
Created by:Â Â University of Virginia
Taught by:Â Â Luann J. Lynch, Almand R. Coleman Professor of Business Administration
Darden School of Business
| Level | Beginner |
| Commitment | 4 weeks of study, 2-4 hours/week |
| Language | English |
| Hardware Req | N/A |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
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!
16 videos, 2 readings, 1 practice quiz
- Prompt de discussão: Introduce Yourself
- Leitura: Course Overview
- Video: What Is Managerial Accounting?
- Video: Three Sets of Books
- Video: Financial Versus Managerial Accounting
- Video: Different Costs for Different Purposes
- Video: Different Costs in More Detail
- Video: Cost Behavior
- Video: Using a Line to Represent Cost Behavior
- Video: Estimating Cost Functions Using Scatter Plots
- Video: Your Turn: Estimating Cost Functions Using Scatter Plots Problem 1
- Video: Your Turn: Estimating Cost Functions Using Scatter Plots Problem 2
- Video: Estimating Cost Functions Using the High-Low Method
- Video: Your Turn: Estimating Cost Functions Using the High-Low Method Problem 1
- Video: Your Turn: Estimating Cost Functions Using the High Low Method Problem 2
- Video: Important Caveats
- Teste para praticar: Week 1 Practice Quiz
- Leitura: Welcome to Honors!
- Video: JW Sports Supplies Case Introduction
Graded: Week 1 Graded Quiz
Graded: Week 1 Honors Graded Quiz
WEEK 2
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.
15 videos, 1 practice quiz
- Prompt de discussão: Friendly Reminder
- Video: What Is CVP Analysis?
- Video: Functional Versus Contribution Margin Income Statements
- Video: Breakeven Analysis
- Video: Your Turn: Breakeven Analysis Company A
- Video: Your Turn: Breakeven Analysis Company B
- Video: Your Turn: Breakeven Analysis Company C
- Video: Your Turn: Breakeven Analysis Company D
- Video: Interested in Doing More than Breakeven?
- Video: Your Turn: Doing More than Breakeven Company A
- Video: Your Turn: Doing More than Breakeven Company B
- Video: Your Turn: Doing More than Breakeven Company C
- Video: Your Turn: Doing More than Breakeven Company D
- Video: CVP Analysis with Multiple Products
- Video: Your Turn: CVP Analysis with Multiple Products
- Teste para praticar: Week 2 Practice Quiz
Graded: Week 2 Graded Quiz
Graded: Week 2 Honors Graded Quiz 1
Graded: Preparing Functional and Contribution Margin Income Statements
Graded: Week 2 Honors Graded Quiz 2
WEEK 3
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.
14 videos, 1 reading, 1 practice quiz
- Video: The Flow of Costs
- Video: The Flow of Costs in More Detail
- Video: Cost Systems
- Video: Allocating Overhead Costs
- Video: Designing Cost Allocation Systems
- Video: Your Turn: Allocating Overhead Costs Problem 1
- Video: Your Turn: Allocating Overhead Costs Problem 2
- Video: Traditional Cost Allocation Systems
- Video: Activity-Based Costing
- Video: Beyond Manufacturing Costs
- Video: Your Turn: Activity-Based Costing Problem 1
- Video: Your Turn: Activity-Based Costing Problem 2
- Video: To Use Activity-Based Costing or Not?
- Teste para praticar: Week 3 Practice Quiz
- Leitura: JW Sports Supplies Case (Part B)
Graded: Week 3 Graded Quiz
Graded: Week 3 Honors Graded Quiz
WEEK 4
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.
14 videos, 1 practice quiz
- Video: Relevant Costs and Benefits
- Video: Important Terms
- Video: Relevant Costs in an Example
- Video: Your Turn: Relevant Costs and Benefits
- Video: Special Order Decision
- Video: Your Turn: Special Order Decision
- Video: Make or Buy Decision
- Video: Your Turn: Make or Buy Decision
- Video: Keep or Drop a Product Line Decision
- Video: Your Turn: Keep or Drop a Product Line Decision
- Video: Product Mix Decisions
- Video: Your Turn: Product Mix Decisions
- Teste para praticar: Week 4 Practice Quiz
- Video: Course Conclusion
Graded: Week 4 Graded Quiz
FAQs
How It Works
Trabalho
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Creators
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.
Pricing
| Purchase Course | |
|---|---|
| Access to course materials | Available |
| Access to graded materials | Available |
| Receive a final grade | Available |
| Earn a shareable Course Certificate | Available |
Ratings and Reviews
Excellent course, covering the topics in depth
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I'm really glad I took this course. It's helped me touch base with the basic concepts of managerial accounting, which I think is going to be really relevant for my professional goals. I also enjoyed the honors section where we worked on the cases like a live business problem. And of course, Prof. Luann's humorous quips during the entire course, kept the subject matter and atmosphere light (although I did find myself rolling my eyes sometimes, at the video transitions to the light boards and Prof. Luann "running", but I'm sure that was the intended purpose to make us forget the course for a moment, so full marks for that!!). I hope there can a more advanced version of this course, But then I expect that's what usiness schools are for! :P