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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
Read more
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
Read more
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/.
Register for this course and see more details by visiting:
OpenCourser.com/course/k8tmu4/managerial
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.
Read more
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.
Read more
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
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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Save Managerial Accounting: Cost Behaviors, Systems, and Analysis to your list so you can find it easily later:
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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."
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
Show steps
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
Show steps
-
Complete online tutorials or courses on Excel modeling.
-
Create your own practice spreadsheets to apply the techniques you learn.
Review Financial Accounting Concepts
Show steps
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
Show steps
-
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
Show steps
Introduce yourself to Managerial Accounting and costing concepts early on to set you up for success.
View
Cost Management: Strategies For Business...
on Amazon
Show steps
-
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.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Practice Costing System Problems
Show steps
Reinforce your understanding of costing systems by solving practice problems. This will build up your problem-solving skills and develop your intuition.
Show steps
-
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
Show steps
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
Show steps
-
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
Show steps
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
Show steps
-
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
Show steps
Expand your professional network and learn about the latest advancements in managerial accounting practices by attending industry events.
Browse courses on
Managerial Accounting
Show steps
-
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
Show steps
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
Show steps
-
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.
Practice Excel Modeling
Show steps
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
Show steps
Show steps
Show steps
- Complete online tutorials or courses on Excel modeling.
- Create your own practice spreadsheets to apply the techniques you learn.
Review Financial Accounting Concepts
Show steps
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
Show steps
Show steps
Show steps
- 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
Show steps
Introduce yourself to Managerial Accounting and costing concepts early on to set you up for success.
View
Cost Management: Strategies For Business...
on Amazon
Show steps
Show steps
Show steps
- 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.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Practice Costing System Problems
Show steps
Reinforce your understanding of costing systems by solving practice problems. This will build up your problem-solving skills and develop your intuition.
Show steps
Show steps
Show steps
- 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
Show steps
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
Show steps
Show steps
Show steps
- 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
Show steps
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
Show steps
Show steps
Show steps
- 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
Show steps
Expand your professional network and learn about the latest advancements in managerial accounting practices by attending industry events.
Browse courses on
Managerial Accounting
Show steps
Show steps
Show steps
- 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
Show steps
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
Show steps
Show steps
Show steps
- 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 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.
Management Consultant
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.
Business Analyst
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.
Operations Manager
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.
Accountant
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.
Auditor
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.
Financial Manager
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.
Budget Analyst
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.
Cost Accountant
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.
Pricing Analyst
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.
Product Manager
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.
Supply Chain 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.
Market Researcher
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.
Financial Planner
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.
Data Analyst
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.
For more career information including salaries, visit:
OpenCourser.com/course/k8tmu4/managerial
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.
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.
Comprehensive introduction to managerial accounting. It provides a solid foundation in the concepts and techniques of managerial accounting, and is helpful in understanding the course materials better.
Save
Classic in the field of cost accounting. It provides a comprehensive overview of the concepts and techniques of cost accounting, and is particularly useful for students who are interested in pursuing a career in accounting.
Save
Classic in the field of activity-based costing. It provides a detailed guide to implementing an ABC system, and it is full of practical examples.
Practical guide to implementing activity-based costing systems. It provides a step-by-step approach to developing and implementing an ABC system, and is helpful for students who are interested in learning more about this topic.
Great introduction to CVP analysis. It is written in a clear and concise style, and it provides plenty of examples to help you understand the concepts.
Save
Practical guide to cost-volume-profit analysis. It provides a clear and concise explanation of the concepts and techniques of CVP analysis, and is helpful for students who are interested in learning more about this topic.
Provides a broad overview of financial and managerial accounting. It good choice for students who want to learn about both topics.
Provides a comprehensive overview of the concepts and techniques of financial accounting theory and analysis. It is helpful for students who are interested in understanding the theoretical foundations of accounting, and is commonly used as a textbook at academic institutions.
Comprehensive introduction to intermediate accounting. It provides a solid foundation in the concepts and techniques of intermediate accounting, and is helpful for students who are interested in pursuing a career in accounting.
Provides a comprehensive overview of the concepts and techniques of financial management. It is helpful for students who are interested in understanding the role of financial management in the decision-making process, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of auditing. It is helpful for students who are interested in understanding the role of auditing in the financial reporting process, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of information technology management. It is helpful for students who are interested in understanding the role of information technology in the business world, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of marketing management. It is helpful for students who are interested in understanding the role of marketing in the business world, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of operations management. It is helpful for students who are interested in understanding the role of operations in the business world, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of human resource management. It is helpful for students who are interested in understanding the role of human resources in the business world, and is commonly used as a textbook at academic institutions.
Save
Provides a comprehensive overview of the concepts and techniques of marketing. It is helpful for students who are interested in understanding the basics of marketing, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of economics. It is helpful for students who are interested in understanding the basics of economics, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of accounting. It is helpful for students who are interested in understanding the basics of accounting, and is commonly used as a textbook at academic institutions.
Provides a comprehensive overview of the concepts and techniques of business. It is helpful for students who are interested in understanding the basics of business, and is commonly used as a textbook at academic institutions.
Shows you how to use value stream mapping to identify and eliminate waste in your organization. It good choice for students who want to learn how to improve their organization's efficiency.
Provides a comprehensive overview of cost management tools and techniques. It good choice for students who want to learn how to use cost information to make better decisions.
Provides an in-depth overview of advanced managerial accounting topics. It good choice for students who want to learn more about the latest developments in managerial accounting.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/k8tmu4/managerial
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Effort
4 weeks of study, 6-8 hours/week
Level
Intermediate
Via
Coursera
Institution
University of Illinois at Urbana-Champaign
Instructor
Gary Hecht, Ph.D.
Language
English
Transcripts
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پښتو
آذربایجان دیلی
Good to know
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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