Accounting for Business Decision Making: Measurement and Operational Decisions

Accounting for Business Decision Making: Measurement and Operational Decisions

This course is part of Fundamentals of Accounting Specialization

Instructor: Gary Hecht, Ph.D.

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4 modules

Gain insight into a topic and learn the fundamentals.

188 reviews

Beginner level

No prior experience required

Flexible schedule

2 weeks at 10 hours a week

Learn at your own pace

86%

Most learners liked this course

4 modules

Gain insight into a topic and learn the fundamentals.

188 reviews

Beginner level

No prior experience required

Flexible schedule

2 weeks at 10 hours a week

Learn at your own pace

86%

Most learners liked this course

What you'll learn

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.

Skills you'll gain

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Assessments

15 assignments¹

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Taught in English

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There are 4 modules in this course

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.

Any organization – no matter how large or small – is extremely complex. It is made up of processes, systems, products, and – perhaps most important – people. Why are people most important? Because they are the ones making decisions, guiding the firm towards success. Wondering what these decisions are and how they’re made? Join in on Module 1! You will also become familiar with the course, your classmates, and our learning environment.

What's included

7 videos5 readings4 assignments1 discussion prompt

7 videos Total 14 minutes

1-1.1. Overview of Business Decisions 3 minutes
1-1.2. Application and Extension 3 minutes
1-1.3. What We’ve Learned 1 minute
1-2.1. Overview of Managerial Accounting 3 minutes
1-2.2. Decision-Making Roles of Managerial Accounting 2 minutes
1-2.3. Application and Extension 2 minutes
1-2.4. What We’ve Learned 1 minute

5 readings Total 65 minutes

Syllabus 15 minutes
About the Discussion Forums 10 minutes
Updating Your Profile 10 minutes
Module 1 Overview 10 minutes
Module 1 Readings 20 minutes

4 assignments Total 85 minutes

Orientation Quiz 10 minutes
Lesson 1-1 Practice Quiz 30 minutes
Lesson 1-2 Practice Quiz 30 minutes
Module 1 Conceptual Quiz 15 minutes

1 discussion prompt Total 60 minutes

Getting to Know Your Classmates 60 minutes

Every decision – no matter how big or small – comes down to trading off benefits versus costs. Sounds simple, right? Potential benefits are often easy to envision, and even fun to think about. Costs – a bit less fun – but isn’t it just the price you pay? Not quite. As you’ll see in Module 2, nothing is as simple as it seems!

What's included

9 videos2 readings3 assignments

9 videos Total 40 minutes

2-1.1. Defining Costs 3 minutes
2-1.2. Application and Extension 2 minutes
2-1.3. What We’ve Learned 1 minute
2-2.1. Importance of Organizing Cost Information 2 minutes
2-2.2. Organizing Costs by Product 9 minutes
2-2.3. Further Refinements 8 minutes
2-2.4. Organizing Costs by Behavior 8 minutes
2-2.5. Application and Extension 7 minutes
2-2.6. What We’ve Learned 1 minute

2 readings Total 40 minutes

Module 2 Overview 10 minutes
Module 2 Readings 30 minutes

3 assignments Total 90 minutes

Lesson 2-1 Practice Quiz 30 minutes
Lesson 2-2 Practice Quiz 30 minutes
Module 2 Conceptual Quiz 30 minutes

Making decisions can be quite daunting. You need to be able to make predictions about the consequences of your actions so that you can make the best decision. Where do you start? Crystal balls are in short supply. So, how about the next best thing? Jump into Module 3 to learn about cost-volume-profit analysis!

What's included

8 videos2 readings4 assignments1 peer review

8 videos Total 31 minutes

3-1.1. Measuring Profitability According to Cost Behavior 5 minutes
3-1.2. Defining and Using Cost-Volume-Profit Analysis 5 minutes
3-1.3. Application and Extension 6 minutes
3-1.4. What We’ve Learned 1 minute
3-2.1. Interpreting CVP Analysis 6 minutes
3-2.2. Limitations of CVP Analysis 2 minutes
3-2.3. Application and Extension 6 minutes
3-2.4. What We’ve Learned 1 minute

2 readings Total 50 minutes

Module 3 Overview 10 minutes
Module 3 Readings 40 minutes

4 assignments Total 120 minutes

Lesson 3-1 Practice Quiz 30 minutes
Lesson 3-2 Practice Quiz 30 minutes
Module 3 Conceptual Quiz 30 minutes
Module 3 Quantitative Analysis Quiz 30 minutes

1 peer review Total 120 minutes

Module 3 Peer Review Assignment 120 minutes

Owners, managers, and employees often run into two obstacles when making decisions: (1) not enough of the information they need, and (2) too much of the information they don’t need. Surprisingly, the second problem is often harder to overcome than the first, especially in today’s information-rich environment. How do accountants help managers solve this problem? Jump into Module 4 to find out!