In this course, you will explore how to use accounting to allocate resources and incentivize manager and employee behaviors with these resources. You will also learn how financial and non-financial accounting information facilitates strategic performance measurement and how to integrate this information to continuously improve strategy.
This course is part of the Value Chain Management Specialization
Offered By
About this Course
Skills you will gain
- Accounting
- Cost
- Investment
- Analysis Of Variance (ANOVA)
Offered by
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
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Syllabus - What you will learn from this course
Course Overview and Relevant Information for Decision Making
In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. Decisions are at the heart of all organizations. In this module, you will also explore the nature and role of relevant information in common business decisions, and how such information facilitates these decisions and helps managers and employees avoid common pitfalls. You will also consider how the financial perspective adopted by accountants complements other, qualitative perspectives.
Standard Costing and Variance Analysis
After establishing goals, setting targets, and the budget, upper management uses variance analysis to compare, assess, and investigate differences between actual and expected performance. In this module, you will learn how upper management uses variance analysis to motivate and monitor managers and employees, how to perform variance analysis on any aspect of the organization, and ultimately understand the power of this important tool for planning and control.
Performance Measurement and Evaluation
Accountants help implement, communicate, and evolve organizational strategy via the information they provide to owners, managers, and employees. Specifically, they help plan, monitor, and control decisions via the performance measurement, evaluation, and compensation system. In this module, you will explore many aspects of this important system, including decentralization, financial and non-financial performance measurement, strategic performance measurement systems, and subjective performance evaluation.
Budgeting for Planning and Control
At the heart of an organization’s planning and control function is its budget. In this module, you will explore the purpose of budgeting, the role of managers and employees in budgeting, and related implications. You will also develop an organization’s budget, ultimately understanding the iterative nature among the budget’s key components: the operations, financing, and capital investments budgets.
Reviews
- 5 stars78.20%
- 4 stars16.87%
- 3 stars2.81%
- 2 stars0.70%
- 1 star1.40%
TOP REVIEWS FROM MANAGERIAL ACCOUNTING: TOOLS FOR FACILITATING AND GUIDING BUSINESS DECISIONS
Really enjoyed learning management and accounting concepts in this course. Looking forward tgat more of this type of courses will be offered in the future.
Enjoyed this course as part of the Online MBA from UIUC. The concepts are solidly explained with examples and plenty of practice exams that you can re-take unlimited times to test your understanding.
I have thorourouly enjoyed this course and gained a helpful insights which I believe would excelled my skills and would be advantageous in the days to come. Thank you for this exciting course.
Great course to learn about the fundamentals of managerial accounting and how it is used in real world problems.
About the Value Chain Management Specialization
The purpose of organizations is to produce and deliver goods and services of value to customers while generating a surplus for owners. Value chain management focuses on understanding what different customers value, measuring inputs and outputs to assess value, and generating higher value for customers and surpluses for organizations.
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