Course Summary
This course provides an introduction to managerial accounting for non-accounting business majors. You will learn how to read and analyze financial statements, cost management techniques, and budgeting.Key Learning Points
- Understand the basics of managerial accounting
- Learn how to read and analyze financial statements
- Explore cost management techniques
- Learn about budgeting
Related Topics for further study
Learning Outcomes
- Ability to read and analyze financial statements
- Knowledge of cost management techniques
- Understanding of budgeting
Prerequisites or good to have knowledge before taking this course
- Basic knowledge of accounting
- Familiarity with Excel
Course Difficulty Level
IntermediateCourse Format
- Online
- Self-paced
Similar Courses
- Financial Accounting Fundamentals
- Accounting Analytics
- Accounting for Decision Making
Related Education Paths
- Business Foundations Specialization
- Financial Management Specialization
- Excel Skills for Business Specialization
Notable People in This Field
- Luann J. Lynch
- Steve Baldasty
Related Books
Description
This course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the fundamentals of managerial accounting including how to navigate the financial and related information managers need to help them make decisions. You'll learn about cost behavior and cost allocation systems, how to conduct cost-volume-profit analysis, and how to determine if costs and benefits are relevant to your decisions.
Knowledge
- Different types of costs and how they are represented graphically
- Cost-volume-profit analyses to answer questions around breaking even and generating profit
- How to calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
- How to distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision
Outline
- MANAGERIAL ACCOUNTING AND COST BEHAVIOR
- Welcome and Course Overview
- What Is Managerial Accounting?
- Three Sets of Books
- Financial Versus Managerial Accounting
- Different Costs for Different Purposes
- Different Costs in More Detail
- Cost Behavior
- Using a Line to Represent Cost Behavior
- Estimating Cost Functions Using Scatter Plots
- Your Turn: Estimating Cost Functions Using Scatter Plots Problem 1
- Your Turn: Estimating Cost Functions Using Scatter Plots Problem 2
- Estimating Cost Functions Using the High-Low Method
- Your Turn: Estimating Cost Functions Using the High-Low Method Problem 1
- Your Turn: Estimating Cost Functions Using the High Low Method Problem 2
- Important Caveats
- JW Sports Supplies Case Introduction
- Course Overview
- Welcome to Honors!
- Week 1 Practice Quiz
- Week 1 Graded Quiz
- Week 1 Honors Graded Quiz
- COST-VOLUME-PROFIT ANALYSIS
- Week 2 Overview
- What Is CVP Analysis?
- Functional Versus Contribution Margin Income Statements
- Breakeven Analysis
- Your Turn: Breakeven Analysis Company A
- Your Turn: Breakeven Analysis Company B
- Your Turn: Breakeven Analysis Company C
- Your Turn: Breakeven Analysis Company D
- Interested in Doing More than Breakeven?
- Your Turn: Doing More than Breakeven Company A
- Your Turn: Doing More than Breakeven Company B
- Your Turn: Doing More than Breakeven Company C
- Your Turn: Doing More than Breakeven Company D
- CVP Analysis with Multiple Products
- Your Turn: CVP Analysis with Multiple Products
- Week 2 Practice Quiz
- Week 2 Graded Quiz
- Week 2 Honors Graded Quiz 1
- Week 2 Honors Graded Quiz 2
- COST ALLOCATION
- Week 3 Overview
- The Flow of Costs
- The Flow of Costs in More Detail
- Cost Systems
- Allocating Overhead Costs
- Designing Cost Allocation Systems
- Your Turn: Allocating Overhead Costs Problem 1
- Your Turn: Allocating Overhead Costs Problem 2
- Traditional Cost Allocation Systems
- Activity-Based Costing
- Beyond Manufacturing Costs
- Your Turn: Activity-Based Costing Problem 1
- Your Turn: Activity-Based Costing Problem 2
- To Use Activity-Based Costing or Not?
- JW Sports Supplies Case (Part B)
- Week 3 Practice Quiz
- Week 3 Graded Quiz
- Week 3 Honors Graded Quiz
- RELEVANT COSTS AND BENEFITS
- Week 4 Overview
- Relevant Costs and Benefits
- Important Terms
- Relevant Costs in an Example
- Your Turn: Relevant Costs and Benefits
- Special Order Decision
- Your Turn: Special Order Decision
- Make or Buy Decision
- Your Turn: Make or Buy Decision
- Keep or Drop a Product Line Decision
- Your Turn: Keep or Drop a Product Line Decision
- Product Mix Decisions
- Your Turn: Product Mix Decisions
- Course Conclusion
- Week 4 Practice Quiz
- Week 4 Graded Quiz
Summary of User Reviews
This course provides a comprehensive understanding of managerial accounting that is useful for business professionals. Many users found the course to be well-structured and engaging, with clear explanations of concepts and real-world examples.Key Aspect Users Liked About This Course
Clear explanations of concepts and real-world examplesPros from User Reviews
- Well-structured course material
- Engaging and interactive learning experience
- In-depth coverage of managerial accounting concepts
- Real-world examples and case studies
- Useful for business professionals
Cons from User Reviews
- Some users found the course to be too basic
- The course may not be suitable for those without prior accounting knowledge
- Limited interaction with instructors
- Not enough practice exercises
- Some users experienced technical issues with the platform
Luann J. Lynch
4.8 Raiting
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