Course

Managerial Accounting: Tools for Facilitating and Guiding Business Decisions

University of Illinois at Urbana-Champaign

In this comprehensive course, you will explore the use of accounting to allocate resources and incentivize manager and employee behaviors, integrating financial and non-financial accounting information to continuously improve strategy.

Key topics covered include:

  • Understanding the role of managerial accounting information
  • Iterative and interrelated nature of budgeting
  • Evaluating capital investments
  • Calculating and interpreting variances
  • Decentralization and its advantages and disadvantages
  • Communicating the role of non-financial measures and strategic performance measurement systems
  • Performance measurement and evaluation
  • Budgeting for planning and control

This course is part of the Gies College of Business’ suite of online programs, including the iMBA and iMSM.

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Managerial Accounting: Tools for Facilitating and Guiding Business Decisions
Course Modules

This course consists of modules that cover relevant information for decision making, standard costing and variance analysis, performance measurement and evaluation, and budgeting for planning and control. Each module provides in-depth understanding and practical application of managerial accounting concepts and tools.

Course Overview and Relevant Information for Decision Making

Welcome to Module 1, where you will learn about relevant information for decision making, including sunk costs, opportunity costs, and common mistakes to avoid. You will also engage in practice quizzes and a mini-project to reinforce your learning.

Standard Costing and Variance Analysis

Module 2 delves into standard costing and variance analysis, covering fundamental concepts, causes of variances, and examples scenarios for direct materials, labor, and overhead variances. Practice quizzes and a mini-project are included to solidify your understanding.

Performance Measurement and Evaluation

In Module 3, you will explore performance measurement and evaluation, including financial and non-financial measures, strategic performance measurement systems, and performance evaluation issues. Engage in practice quizzes to assess your comprehension.

Budgeting for Planning and Control

Module 4 focuses on budgeting for planning and control, covering basic terminology, master budgeting, financing budget, and capital budgeting. You will also complete practice quizzes to reinforce your understanding.

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