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Gary Hecht, Ph.D.
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.
Read more
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.
Read more
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.
Register for this course and see more details by visiting:
OpenCourser.com/course/b7mlhg/accounting
What's inside
Syllabus
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Read more
Syllabus
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Read more
Module 1: Introduction to Business Decision Making
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!
Module 2: Cost Concepts and Perspectives
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!
Module 3: Managing Products and Profitability
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!
Module 4: Managing Operations and Sales
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!
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Examines the role of accounting information in both operational and strategic decisions
Highlights the measurement, control, and communication roles of accounting
Explores how cost information aids in profitability analyses, product development, pricing, and other business decisions
Empowers learners to create, organize, and communicate cost information effectively
Develops learners' ability to leverage accounting information for operational decision-making
Provides a foundation in accounting's measurement role within organizations
Save this course
Save Accounting for Business Decision Making: Measurement and Operational Decisions to your list so you can find it easily later:
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Reviews summary
Useful introduction to accounting
According to students, this business accounting course covers the basics of accounting and is helpful as a supplement to other courses whether you are a student or accounting is essential for your line of work. Learners mention that the provided tools, resources, examples, and course content are helpful and make accounting easy to understand.
Course provides useful resources to make learning accounting easier.
"Muy buena metodología de enseñanza y una sistematización adecuada."
"Fue un buen reto."
"Knowing basic income and expense can provide you to get better situation."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Accounting for Business Decision Making: Measurement and Operational Decisions with these
activities:
Review accounting principles from previous courses or materials
Show steps
Refresh your knowledge of accounting principles to ensure a strong foundation for the course.
Browse courses on
Accounting Principles
Show steps
-
Review notes from previous accounting courses
-
Read articles or textbooks on accounting principles
-
Complete practice problems to test your understanding
Review basic accounting concepts
Show steps
Review the fundamental concepts of accounting to ensure a strong foundation for the course.
Browse courses on
Accounting Principles
Show steps
-
Read the first chapter of the textbook
-
Complete the practice problems at the end of the chapter
-
Take a quiz on the material
Compile a list of accounting resources
Show steps
Organize a collection of useful accounting resources, such as websites, articles, and videos, to enhance your learning experience.
Show steps
-
Search online for accounting resources
-
Create a list of the most relevant and useful resources
-
Share the list with classmates or instructors
Five other activities
Expand to see all activities and additional details
Show all eight activities
Participate in study groups to discuss accounting concepts
Show steps
Engage with peers in study groups to exchange ideas, ask questions, and reinforce your understanding of accounting concepts.
Show steps
-
Find or create a study group with classmates
-
Meet regularly to discuss course material
-
Work together on assignments and practice problems
Follow tutorials on cost accounting methods
Show steps
Explore different cost accounting methods through guided tutorials to gain a deeper understanding of their application.
Browse courses on
Cost Accounting
Show steps
-
Find online tutorials on cost accounting methods
-
Follow the tutorials step-by-step
-
Apply the methods to practice problems
Solve practice problems on cost accounting
Show steps
Sharpen your cost accounting skills by solving practice problems to reinforce the concepts learned in class.
Browse courses on
Cost Accounting
Show steps
-
Find practice problems online or in textbooks
-
Solve the problems using the appropriate methods
-
Check your answers and identify areas for improvement
Develop a cost-volume-profit analysis model
Show steps
Create a cost-volume-profit analysis model to enhance your understanding of how costs, volume, and profits are interrelated.
Browse courses on
Cost-Volume-Profit Analysis
Show steps
-
Gather data on costs, volume, and prices
-
Use a spreadsheet or software to create the model
-
Analyze the model to identify key insights
Volunteer at a non-profit organization to apply accounting skills
Show steps
Gain practical experience by volunteering at a non-profit organization and applying your accounting skills to real-world scenarios.
Show steps
-
Find a non-profit organization that aligns with your interests
-
Contact the organization and inquire about volunteer opportunities
-
Assist with accounting tasks such as bookkeeping, budgeting, or financial reporting
Review accounting principles from previous courses or materials
Show steps
Refresh your knowledge of accounting principles to ensure a strong foundation for the course.
Browse courses on
Accounting Principles
Show steps
Show steps
Show steps
- Review notes from previous accounting courses
- Read articles or textbooks on accounting principles
- Complete practice problems to test your understanding
Review basic accounting concepts
Show steps
Review the fundamental concepts of accounting to ensure a strong foundation for the course.
Browse courses on
Accounting Principles
Show steps
Show steps
Show steps
- Read the first chapter of the textbook
- Complete the practice problems at the end of the chapter
- Take a quiz on the material
Compile a list of accounting resources
Show steps
Organize a collection of useful accounting resources, such as websites, articles, and videos, to enhance your learning experience.
Show steps
Show steps
Show steps
- Search online for accounting resources
- Create a list of the most relevant and useful resources
- Share the list with classmates or instructors
Five other activities
Expand to see all activities and additional details
Show all eight activities
Participate in study groups to discuss accounting concepts
Show steps
Engage with peers in study groups to exchange ideas, ask questions, and reinforce your understanding of accounting concepts.
Show steps
Show steps
Show steps
- Find or create a study group with classmates
- Meet regularly to discuss course material
- Work together on assignments and practice problems
Follow tutorials on cost accounting methods
Show steps
Explore different cost accounting methods through guided tutorials to gain a deeper understanding of their application.
Browse courses on
Cost Accounting
Show steps
Show steps
Show steps
- Find online tutorials on cost accounting methods
- Follow the tutorials step-by-step
- Apply the methods to practice problems
Solve practice problems on cost accounting
Show steps
Sharpen your cost accounting skills by solving practice problems to reinforce the concepts learned in class.
Browse courses on
Cost Accounting
Show steps
Show steps
Show steps
- Find practice problems online or in textbooks
- Solve the problems using the appropriate methods
- Check your answers and identify areas for improvement
Develop a cost-volume-profit analysis model
Show steps
Create a cost-volume-profit analysis model to enhance your understanding of how costs, volume, and profits are interrelated.
Browse courses on
Cost-Volume-Profit Analysis
Show steps
Show steps
Show steps
- Gather data on costs, volume, and prices
- Use a spreadsheet or software to create the model
- Analyze the model to identify key insights
Volunteer at a non-profit organization to apply accounting skills
Show steps
Gain practical experience by volunteering at a non-profit organization and applying your accounting skills to real-world scenarios.
Show steps
Show steps
Show steps
- Find a non-profit organization that aligns with your interests
- Contact the organization and inquire about volunteer opportunities
- Assist with accounting tasks such as bookkeeping, budgeting, or financial reporting
Career center
Learners who complete Accounting for Business Decision Making: Measurement and Operational Decisions will develop knowledge and skills
that may be useful to these careers:
Management Accountant
Management Accountant
To become a great Management Accountant, you must be able to translate complex financial data into useful formats. This course will prepare you for that task by showing you how to create, organize, and evaluate cost information for management.
Cost Accountant
Cost Accountant
One of the primary duties of a Cost Accountant is to offer insight on how to lower production costs. After learning about cost concepts and perspectives in this course, you will be able to communicate cost-cutting recommendations more effectively. This course should help you refine your technical skills as well as your soft skills.
Financial Analyst
Financial Analyst
Financial Analysts need a strong understanding of financial accounting to stay competitive in the field. This course will help you develop this essential understanding.
Auditor
Auditor
Auditors who want to rise through the ranks should take this course. Auditors may find that this course's exploration of product management and profitability will be particularly helpful.
Budget Analyst
Budget Analyst
Budget Analysts work with financial data to create and manage budgets. If you wish to work with budgets, then it is imperative that you understand the various types of cost information presented in this course.
Product Manager
Product Manager
Product Managers are tasked with turning concepts into profitable products. This course will help you gain the skills you need to conduct profitability analyses to achieve that goal.
Business Analyst
Business Analyst
Business Analysts play a vital role in helping companies identify and solve problems. This course will help you develop the problem-solving skills and analytical thinking skills that are foundational to this role.
Financial Manager
Financial Manager
This course will be particularly useful to Financial Managers who supervise teams in developing budgets and making business decisions.
Marketing Manager
Marketing Manager
Marketing Managers need to be able to assess the financial impact of marketing campaigns. This course can help you understand how costs can be used to evaluate marketing decisions.
Operations Manager
Operations Manager
Operations Managers are responsible for ensuring that businesses run efficiently. This course may be useful for this role as it will teach you how to manage operations and sales.
Sales Manager
Sales Manager
Sales Managers may find that this course's exploration of product management and profitability will be particularly helpful.
Loan Officer
Loan Officer
Loan Officers who want to better understand the financial health of potential borrowers may find this course to be useful.
Underwriter
Underwriter
Underwriters may find this course's exploration of product management and profitability to be useful.
Tax Preparer
Tax Preparer
Tax Preparers may find this course's exploration of cost concepts and perspectives to be particularly useful.
Accountant
Accountant
Accountants who want to advance their career may find this course to be useful, as it will teach you how to manage products and profitability.
For more career information including salaries, visit:
OpenCourser.com/course/b7mlhg/accounting
Reading list
We've selected 22 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Accounting for Business Decision Making: Measurement and Operational Decisions.
This textbook provides a comprehensive overview of cost accounting concepts and techniques, with a focus on managerial decision-making. It would be a valuable resource for students who want to learn more about cost accounting and its applications in business.
Provides a comprehensive overview of accounting principles and their application to decision-making. It covers topics such as financial statement analysis, cost accounting, and budgeting, and it is written in a clear and concise style.
This textbook provides a comprehensive overview of advanced accounting topics. It covers a wide range of topics, including financial reporting, auditing, and taxation.
Save
This textbook provides a comprehensive overview of accounting for business decisions. It covers a wide range of topics, including financial reporting, cost accounting, and managerial accounting.
Save
This textbook provides a comprehensive overview of financial accounting theory and analysis. It covers a wide range of topics, including financial reporting, financial statement analysis, and accounting research.
This textbook provides a comprehensive overview of financial and managerial accounting. It is written in a clear and concise style and is packed with real-world examples.
Provides a comprehensive overview of accounting for decision making and control. It covers a wide range of topics, including cost accounting, budgeting, and performance evaluation.
This textbook provides a clear and concise introduction to management and cost accounting. It is written in a user-friendly style and is packed with real-world examples.
This textbook provides a comprehensive overview of managerial accounting. It covers a wide range of topics, including cost accounting, budgeting, and performance measurement.
Provides a comprehensive overview of managerial accounting, with a focus on its application to decision-making. It covers topics such as budgeting, cost analysis, and performance measurement.
Provides a comprehensive overview of accounting principles, with a focus on their application to financial reporting. It covers topics such as the accounting equation, the income statement, and the balance sheet.
Classic in the field of cost accounting. It provides a clear and concise overview of the concepts and techniques of cost accounting.
Comprehensive textbook on intermediate accounting. It covers a wide range of topics, including financial reporting, asset valuation, and liability recognition.
Popular textbook on financial accounting. It provides a clear and concise overview of the concepts and techniques of financial accounting.
Provides a comprehensive overview of business valuation and financial modeling, with a focus on the practical application of valuation techniques. It covers topics such as the types of valuation methods, the analysis of financial data, and the preparation of financial models.
Save
Provides a comprehensive overview of auditing, with a focus on the risk-based approach. It covers topics such as the types of audits, the audit process, and the reporting requirements.
Popular textbook on managerial accounting. It provides a clear and concise overview of the concepts and techniques of managerial accounting.
Provides a comprehensive overview of cost accounting. It covers a wide range of topics, including cost classification, cost allocation, and cost control.
Provides an overview of sustainability accounting. It covers a wide range of topics, including the Global Reporting Initiative, the Sustainable Development Goals, and integrated reporting.
Save
Explores the behavioral aspects of accounting. It covers a wide range of topics, including the psychology of accounting, the sociology of accounting, and the ethics of accounting.
Provides an overview of accounting theory. It covers a wide range of topics, including the history of accounting theory, the different schools of accounting thought, and the current state of accounting theory.
Provides an overview of auditing. It covers a wide range of topics, including the auditing process, the different types of audits, and the role of the auditor.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/b7mlhg/accounting
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Effort
4 weeks of study, 1-3 hours/week
Level
Introductory
Via
Coursera
Institution
University of Illinois at Urbana-Champaign
Instructor
Gary Hecht, Ph.D.
Language
English
Transcripts
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آذربایجان دیلی
This course belongs to a
collection
called
Fundamentals of Accounting . It's comprised of five courses:
- Fundamentals of Accounting Capstone
- Accounting for Business Decision Making: Strategy Assessment and Control
- Accounting for Business Decision Making: Measurement and Operational Decisions (viewing)
- Understanding Financial Statements: Company Performance
- Understanding Financial Statements: Company Position
Good to know
Examines the role of accounting information in both operational and strategic decisions
Highlights the measurement, control, and communication roles of accounting
Explores how cost information aids in profitability analyses, product development, pricing, and other business decisions
Empowers learners to create, organize, and communicate cost information effectively
Develops learners' ability to leverage accounting information for operational decision-making
Provides a foundation in accounting's measurement role within organizations
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