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Managerial Accounting

Cost Behaviors, Systems, and Analysis

Gary Hecht, Ph.D.

In this course, you will learn how to use accounting to facilitate and align decisions made by owners, managers, and employees. You will learn how accountants create, organize, interpret, and communicate information that improves internal processes and allows organizations to identify and leverage opportunities to create value within the supply chain and with customers.

You will be able to:

• Understand what managerial accounting is and why it is an important function for successful businesses

• Identify problems associated with relying on financial accounting information for internal decision making

• Organize cost information according to the decision-making needs of the organization

• Apply activity-based costing (ABC) and recognize circumstances and decisions for which ABC systems are relevant

• Address common "what-if" questions using cost-volume-profit (CVP) analysis and apply CVP in a variety of scenarios

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

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What's inside

Syllabus

Course Overview and Introduction to Managerial Accounting

In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. Then, you will be introduced to Managerial Accounting and Costing Concepts.

Costing Systems I - Elements and Design

Organizations can organize cost information however best suits their decisions. In this module, we introduce the role of costing systems, identify some example systems and settings in which they are most useful, and explore how accounting for overhead costs influences the value of cost information.

Costing Systems II - Activity-Based Costing

Activity-based costing systems adopt a more refined view of the organization, and can increase the accuracy of cost information. In this module, we introduce the fundamentals of activity-based costing systems, identify related advantages and disadvantages, and demonstrate how such systems are implemented using an in-depth example.

Cost-Volume-Profit (CVP) Analysis

Cost-volume-profit (CVP) analysis is the tool that managers can use to better understand the answers to "what-if" questions in order to make better decisions for their companies. In this module you will explore the power of CVP analysis.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops skills in managerial accounting, cost-volume-profit analysis, and activity-based costing

Relevant for learners in business, accounting, and finance roles

Taught by Gary Hecht, Ph.D., an expert in managerial accounting

Part of the suite of online programs by Gies College of Business

Requires basic understanding of accounting principles

Can apply to degree programs at Gies College of Business

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Reviews summary

Well-received managerial accounting course

Students largely agree that this Managerial Accounting course is well-structured, well-paced, and engaging. The instructor, Professor Gary Hecht, is highly praised for his clear and engaging explanations. Students appreciate the practical examples, real-world scenarios, and relevant readings provided throughout the course. The course covers the fundamentals of managerial accounting, including cost analysis, decision-making, and financial reporting. Students find the course to be informative, valuable, and applicable to their careers.

Course is well-structured and easy to follow

"It is brilliantly paced and quite easy to catch on."

"Good course to refresh your knowledge on traditional and activity based costing, and contribution margin analysis."

"I completed the 6 courses, but I did not receive the certificate for the "specialized program.""

Course is applicable to careers

"I enjoyed this course while learning so much at the same time."

"The course was an excellent opportunity to have a better approach to managerial accounting."

"I like the way it was taught to us."

Course covers the fundamentals of managerial accounting

"It was a very nice courseit helped me a lot to think at each point of time when decision are required to be takenwhat if analysis is very much useful in day to day life."

"This course was great and carefully structured."

"Great and very valuable information have been presented in this course."

Course provides practical examples and real-world scenarios

"The concepts have been presented very lucidly"

"Very descriptive and useful course"

"This is an excellent course. Learned a lot about costing and costing analysis."

Professor Hecht is an excellent instructor

"Excellent introduction into Managerial Accounting filled with real-life scenario examples and excellent concept detail. Gary is an excellent instructor who fosters learning in a fun and engaging way."

"Professor Gary helps make accounting an interesting subject! Great instructor!"

"This professor was great! He explained all of the topics in-depth which really helped me understand the topics and build on my knowledge from the reading."

Career center

Learners who complete Managerial Accounting: Cost Behaviors, Systems, and Analysis will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial analysts provide guidance on investment decisions. They assess the performance of stocks and analyze companies to make recommendations. Completion of this course will help build a foundation in managerial accounting principles, which are necessary for understanding financial performance. Students will also learn about cost-volume-profit analysis, which can be used to make informed investment decisions.

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Management Consultant

Management consultants help businesses improve their performance. They identify problems and develop solutions. Earning a passing grade in this course can help build the analytical and financial skills necessary for success as a management consultant. Students will learn about costing systems and how to make decisions using cost-volume-profit analysis.

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Business Analyst

Business analysts evaluate business processes and design solutions to improve efficiency. They use data to identify problems and opportunities. Taking this course can help develop the skills needed to be a business analyst. Students will learn about cost accounting, costing systems, and activity-based costing.

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Operations Manager

Operations Managers are responsible for the day-to-day operations of a business. They ensure that products and services are produced and delivered efficiently. This course may be useful for those interested in becoming Operations Managers. Students will learn about cost-volume-profit analysis, which can help managers make decisions to improve efficiency and profitability.

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Accountant

Accountants prepare and maintain financial records. They ensure that financial information is accurate and compliant with regulations. This course may be useful for those interested in becoming Accountants. Students will learn about costing systems and cost-volume-profit analysis, which are essential skills for Accountants.

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Auditor

Auditors examine financial records to ensure accuracy and compliance with regulations. Knowledge of managerial accounting principles and practices is helpful for Auditors. Completing this course will help build a strong foundation in managerial accounting concepts and gain experience with cost accounting, costing systems, and activity-based costing.

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Financial Manager

Financial Managers plan and manage the financial resources of an organization. This course may be useful for those interested in becoming Financial Managers. Students will learn about managerial accounting principles and cost-volume-profit analysis, which are skills necessary for success as a Financial Manager.

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Budget Analyst

Budget Analysts prepare and manage budgets for organizations. This course can help develop the skills needed to be a Budget Analyst. Students will learn about cost accounting, costing systems, and cost-volume-profit analysis, which are all essential for creating and managing budgets.

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Cost Accountant

Cost Accountants track, analyze, and report on the costs of an organization. This course may be useful for those interested in becoming Cost Accountants. Students will learn about costing systems, cost accounting, and cost-volume-profit analysis.

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Pricing Analyst

Pricing Analysts develop and manage pricing strategies for organizations. This course may be useful for those interested in becoming Pricing Analysts. Students will learn about cost-volume-profit analysis, which is a tool used to determine pricing.

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Product Manager

Product Managers are responsible for the development and launch of new products. This course may be useful for those interested in becoming Product Managers. Students will learn how to analyze costs and make decisions using cost-volume-profit analysis.

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Supply Chain Manager

Supply Chain Managers oversee the flow of goods and services from suppliers to customers. This course may be useful for those interested in becoming Supply Chain Managers. Students will learn about cost accounting, costing systems, and activity-based costing, which are essential for managing supply chains.

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Market Researcher

Market Researchers gather and analyze data on consumer behavior. This course may be useful for those interested in becoming Market Researchers. Students will learn about cost-volume-profit analysis, which can be used to understand the impact of marketing campaigns on profitability.

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Financial Planner

Financial Planners help clients achieve their financial goals. This course may be useful for those interested in becoming Financial Planners. Students will learn about cost-volume-profit analysis, which can be used to create financial plans and make investment recommendations.

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Data Analyst

Data Analysts collect, analyze, and interpret data to help organizations make better decisions. This course may be useful for those interested in becoming Data Analysts. Students will learn about cost-volume-profit analysis, which can be used to analyze data and make recommendations.

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Reading list

We've selected 23 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 Managerial Accounting: Cost Behaviors, Systems, and Analysis.

Financial Accounting, eBook, Global Edition