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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

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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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.

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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

Managerial accounting fundamentals

According to students, this course provides a solid foundation in managerial accounting, covering key concepts like cost behaviors, various costing systems including Activity-Based Costing (ABC), and Cost-Volume-Profit (CVP) analysis. Learners often find the explanations around these complex topics clear and digestible, making them applicable to real-world managerial decision-making. While the material can be dense, the course is seen as highly relevant for those seeking to understand how accounting information is used internally, serving as a valuable building block for business professionals or those pursuing related degrees like the iMBA or iMSM. Some note that mastering the concepts requires diligent practice with the provided examples and assignments.

Provides solid basis for further study/career.

"This course gave me the managerial accounting basics I needed for my MBA program."

"It was a great primer for understanding internal business finance and cost management."

"Essential knowledge for anyone pursuing a career in management or corporate finance."

Apply concepts to business decisions.

"I can now use cost data and CVP analysis to make better, more informed decisions at work."

"The section on 'what-if' scenarios using CVP analysis was particularly useful and immediately applicable."

"Helped me see how accounting information connects directly to strategic decisions within a company."

Focuses on core managerial accounting tools.

"I gained a solid grasp of key tools like ABC and CVP analysis, which are essential for managerial roles."

"Understanding Activity-Based Costing and Cost-Volume-Profit analysis was crucial for my work."

"The course laid out the fundamentals of ABC and CVP analysis very clearly, step by step."

Concepts can be challenging; requires practice.

"The material is complex and needed multiple passes and extra practice problems to fully sink in."

"I felt I could have used more practice assignments or examples to reinforce learning."

"Some topics, like advanced ABC implementation, felt a bit dense and required external reading."

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 Managerial Accounting: Cost Behaviors, Systems, and Analysis with these activities:

Practice Excel Modeling

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Sharpen your Excel modeling skills, as they will be essential for working with data and creating financial models in managerial accounting.

Browse courses on Excel Modeling

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Complete online tutorials or courses on Excel modeling.
Create your own practice spreadsheets to apply the techniques you learn.

Review Financial Accounting Concepts

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Refresh your understanding of financial accounting principles to build a stronger foundation for managerial accounting. This will help bridge the gap between the two disciplines.

Browse courses on Financial Accounting

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Review your notes or textbooks from previous financial accounting courses.
Take practice quizzes or mock exams to test your knowledge and identify areas for improvement.

Review Managerial Accounting by Hilton, Maher & Selto

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Introduce yourself to Managerial Accounting and costing concepts early on to set you up for success.

View Cost Management: Strategies For Business... on Amazon

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Identify chapters in the syllabus that can be matched to chapters in the textbook.
Summarize the key points of each chapter in your own words.

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Practice Costing System Problems

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Reinforce your understanding of costing systems by solving practice problems. This will build up your problem-solving skills and develop your intuition.

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Search online for practice problems related to costing systems.
Solve the problems and check your answers against the provided solutions (if available).
If you encounter difficulties, review the relevant chapters in the textbook or consult with your instructor.

Watch Video Tutorials on Activity-Based Costing

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Supplement your understanding of activity-based costing principles through online video tutorials. This will provide valuable visual aids and real-world examples.

Browse courses on Activity-Based Costing

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Search for reputable online platforms or YouTube channels that offer video tutorials on activity-based costing.
Watch the tutorials and take notes on the key concepts and formulas.

Join a Study Group for Cost-Volume-Profit Analysis

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Collaborate with peers and discuss different perspectives on CVP analysis. This will foster a deeper understanding of the concepts and their applications.

Browse courses on Cost-Volume-Profit Analysis

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Invite classmates or fellow students to form a study group focused on CVP analysis.
Meet regularly to discuss the course material, share insights, and work on practice problems together.

Attend a Conference or Workshop on Managerial Accounting

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Expand your professional network and learn about the latest advancements in managerial accounting practices by attending industry events.

Browse courses on Managerial Accounting

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Research upcoming conferences or workshops related to managerial accounting.
Register for the event and make an effort to connect with other attendees.

Design a Cost-Volume-Profit Model for a Business

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Apply your knowledge of CVP analysis to a real-world scenario by creating a model for a business. This will help you develop practical problem-solving skills.

Browse courses on Cost-Volume-Profit Analysis

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Choose a specific business or industry for which you want to create a CVP model.
Gather data on the business's costs, volume, and profits.
Use a spreadsheet or other tool to create a CVP model that incorporates the data you have collected.

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.

See salaries and explore the career path for Financial Analyst

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.

See salaries and explore the career path for Management Consultant

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.

See salaries and explore the career path for Business Analyst

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.

See salaries and explore the career path for Operations Manager

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.

See salaries and explore the career path for Accountant

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.

See salaries and explore the career path for Auditor

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.

See salaries and explore the career path for Financial Manager

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.

See salaries and explore the career path for Budget Analyst

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.

See salaries and explore the career path for Cost Accountant

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.

See salaries and explore the career path for Pricing Analyst

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.

See salaries and explore the career path for Product Manager

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.

See salaries and explore the career path for Supply Chain Manager

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.

See salaries and explore the career path for Market Researcher

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.

See salaries and explore the career path for Financial Planner

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.

See salaries and explore the career path for Data Analyst

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

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This comprehensive textbook that covers all the topics in the course, including cost behaviors, systems, and analysis. It is well-written and provides clear explanations of complex concepts.

Managerial Accounting

Cost Behaviors, Systems, and Analysis

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What's inside

Syllabus

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Save this course

Reviews summary

Managerial accounting fundamentals

Activities

Career center

Reading list

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