This course is part of the Value Chain Management Specialization

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Gary Hecht, Ph.D.

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Value Chain Management SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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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.
You will be able to: 

• Understand the role of managerial accounting information and use it to avoid common pitfalls in business decisions 
• Understand the iterative and interrelated nature of budgeting and apply the key components to preparing a master budget 
• Evaluate capital investments via a variety of measures 
• Calculate, interpret, and investigate variances 
• Understand decentralization and its advantages and disadvantages 
• Communicate the role of non-financial measures and strategic performance measurement systems 
• Compute and interpret financial performance measures and identify associate issues 

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/.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

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Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

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Course 2 of 7 in the

Value Chain Management Specialization

Approx. 25 hours to complete

English

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Skills you will gain

Accounting
Cost
Investment
Analysis Of Variance (ANOVA)

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 2 of 7 in the

Value Chain Management Specialization

Approx. 25 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.7/5 (69 Ratings)

Gary Hecht, Ph.D.

Associate Professor of Accountancy

Department of Accountancy, College of Business

101,439 Learners

9 Courses

Offered by

University of Illinois at Urbana-Champaign

Get a head start on your degree

This course is part of the Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your coursework will count towards your degree learning and all of your progress will transfer with you.

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Syllabus - What you will learn from this course

Content Rating93%(3,102 ratings)

Week1

Week 1

8 hours to complete

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.

8 hours to complete

18 videos (Total 54 min), 9 readings, 7 quizzes

18 videos

Welcome and Course Overview2mLearn on Your Terms30sFundamental Concepts2mSunk Costs3mOpportunity Costs3mCommon Mistakes2mWhat We've Learned in Lesson 1.144sLearning Objectives and Overview1mKeep or Drop a Product Line6mMake or Buy8mReplace or Retain Equipment6mAdditional Considerations2mWhat We've Learned in Lesson 1.237sLearning Objectives and Overview1mSell "As-Is" or Process Further4mAccepting a Special Order7mWhat We've Learned in Lesson 1.340sModule 1 Review39s

9 readings

Syllabus10mAbout this Course: Ratings and Reviews10mAbout the Discussion Forums10mGlossary10mGetting to Know Your Classmates10mUpdating Your Profile10mLearn More About Flexible Learning Paths10mModule 1 Overview10mModule 1 Readings1h 20m

6 practice exercises

Orientation Quiz30mLesson 1.1 Practice Quiz30mLesson 1.2 Practice Quiz30mLesson 1.3 Practice Quiz30mRelevant Information for Decision Making: Conceptual Quiz30mRelevant Information for Decision Making: Quantitative Analysis Quiz30m

Week2

Week 2

7 hours to complete

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.

7 hours to complete

13 videos (Total 76 min), 2 readings, 6 quizzes

13 videos

Fundamentals and Concepts6mCost Variance Classification and General Framework10mCauses of Variances5mAn Example Scenario and Direct Materials Variances12mDirect Labor Variances7mVariable Overhead Variances3mFixed Cost Variances5mProduction Volume Variances5mWhat We've Learned in Lesson 2.21mFundamentals and General Framework6mAn Example Scenario11mWhat We've Learned in Lesson 2.335sModule 2 Review45s

2 readings

Module 2 Overview10mModule 2 Readings2h

5 practice exercises

Lesson 2.1 Practice Quiz30mLesson 2.2 Practice Quiz30mLesson 2.3 Practice Quiz30mStandard Costing and Variance Analysis Conceptual Quiz30mStandard Costing and Variance Analysis Quantitative AnalisysQuiz30m

Week3

Week 3

4 hours to complete

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.

4 hours to complete

13 videos (Total 60 min), 2 readings, 4 quizzes

13 videos

Fundamentals and Concepts8mWhat We've Learned in Lesson 3.148sWhy is Financial Performance Measurement Important?4mReturn on Investment4mThe Underinvestment Problem8mResidual Income5mWhat We've Learned in Lesson 3.243sNon-Financial Measures4mStrategic Performance Measurement Systems8mPerformance Measurement Issues7mSubjective Performance Evaluation4mWhat We've Learned in Lesson 3.355sModule 3 Review39s

2 readings

Module 3 Overview10mModule 3 Readings10m

4 practice exercises

Lesson 3.1 Practice Quiz30mLesson 3.2 Practice Quiz30mLesson 3.3 Practice Quiz30mPerformance Measurement and Evaluation Quiz45m

Week4

Week 4

7 hours to complete

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.

7 hours to complete

26 videos (Total 85 min), 4 readings, 6 quizzes

26 videos

Fundamental Concepts1mBasic Terminology3mImplications2mWhat We've Learned in Lesson 4.133sMaster Budget Overview1mSales Budget2mProduction Budget3mComponent Budgets11mBudgeted Income Statement3mWhat We've Learned in Lesson 4.250sFinancing Budget Overview1mCash Budget - 13mCash Budget - 24mCash Budget - 36mExtending the Example2mWhat We've Learned in Lesson 4.332sCapital Budgeting Overview1mExample Scenario4mPayback4mAccounting Rate of Return3mTime Horizon and Implications4mDiscounted Cash Flow and Net Present Value7mInternal Rate of Return5mWhat We've Learned in Lesson 4.441sModule 4 Review38sGies Online Programs3m

4 readings

Module 4 Overview10mModule 4 Readings2hCongratulations!10mGet Your Course Certificate10m

6 practice exercises

Lesson 4.1 Practice Quiz30mLesson 4.2 Practice Quiz30mLesson 4.3 Practice Quiz30mLesson 4.4 Practice Quiz30mBudgeting for Planning and Control: Conceptual Quiz30mBudgeting for Planning and Control: Quantitative Analysis Quiz30m

Reviews

4.7

94 reviews

5 stars
78.02%
4 stars
16.69%
3 stars
2.72%
2 stars
0.85%
1 star
1.70%

TOP REVIEWS FROM MANAGERIAL ACCOUNTING: TOOLS FOR FACILITATING AND GUIDING BUSINESS DECISIONS

by KSJun 27, 2020

Enjoyed the class. It has some basic math that enables learning for application.

by DKNov 4, 2017

Professor Hecht was thorough and broke down all aspects of the course work. The knowledge gained from this course will assist across all fields.

by DTSep 4, 2020

Excellent Content and they are very well organized.

I am pretty much pleased with the Course. Thank you Instructor Dr. Gary and Coursera Team.

by RPJul 2, 2020

Appreciate the effort is taken for formulating the course which is very interesting to learn

View all reviews

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.

In this specialization, you will gain competencies that are critical for managers in any functional area. You will learn to create, model, analyze, and maximize value in accounting, operations, and marketing. This specialization 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 here.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Managerial Accounting: Tools for Facilitating and Guiding Business Decisions

About this Course

Skills you will gain