Accounting for Business Decision Making: Measurement and Operational Decisions
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About this course: Accounting information is the lifeblood of the organization as it facilitates and influences operational and strategic decisions intended to achieve organizational goals. Organizations benefit from three decision-oriented roles of accounting: measurement, control, and communication. This course provides an introduction to accounting’s measurement role inside of an organization and how accountants communicate information that helps managers and employees make operational decisions. In particular, you will learn how cost information is created and organized to help managers and employees conduct profitability analyses, develop and choose products, make pricing decisions, and make common business decisions. Upon successful completion of this course, you will be able to: • Identify the nature, purpose, and importance of different types of decision-useful accounting information. • Create, organize, and communicate cost information to best suit common operational decisions. • Use accounting information to manage products, control costs, and leverage other drivers of operational success. If you enjoy this business course and are interested in an MBA, consider applying to the iMBA, a flexible, fully-accredited online MBA at an incredibly competitive price offered by the University of Illinois. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Created by:Â Â Â University of Illinois at Urbana-Champaign
Taught by:Â Â Â Â Gary Hecht, Ph.D., Associate Professor of Accountancy
Department of Accountancy, College of Business
Basic Info
Course 3 of 5 in the Fundamentals of Accounting Specialization.
Level
Beginner
Commitment
4 weeks of study, 1-3 hours/week
Language
English
How To Pass
Pass all graded assignments to complete the course.
User Ratings
4.7 stars
Average User Rating 4.7
Course 3 of Specialization
Accounting Basics for Managers and Entrepreneurs. Apply principles that underlie financial statements and facilitate business decisions and goals.
Fundamentals of Accounting
University of Illinois at Urbana-Champaign
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Coursework
Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.
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Connect with thousands of other learners and debate ideas, discuss course material, and get help mastering concepts.
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About 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.
Syllabus
WEEK 1
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.Â
4 readings, 1 reading
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Module 1: Introduction to Business Decision Making
Any organization – no matter how large or small – is extremely complex. It is made up of processes, systems, products, and – perhaps most important – people. Why are people most important? Because they are the ones making decisions, guiding the firm towards su...Â
7 videos, 2 readings, 2 readings
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Graded: Module 1 Conceptual Quiz
WEEK 2
Module 2: Cost Concepts and Perspectives
Every decision – no matter how big or small – comes down to trading off benefits versus costs. Sounds simple, right? Potential benefits are often easy to envision, and even fun to think about. Costs – a bit less fun – but isn’t it just the price you pay? Not q...Â
9 videos, 2 readings, 2 readings
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Graded: Module 2 Conceptual Quiz
WEEK 3
Module 3: Managing Products and Profitability
Making decisions can be quite daunting. You need to be able to make predictions about the consequences of your actions so that you can make the best decision. Where do you start? Crystal balls are in short supply. So, how about the next best thing? Jump into M...Â
8 videos, 2 readings, 2 readings
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Graded: Module 3 Conceptual Quiz
WEEK 4
Module 4: Managing Operations and Sales
Owners, managers, and employees often run into two obstacles when making decisions: (1) not enough of the information they need, and (2) too much of the information they don’t need. Surprisingly, the second problem is often harder to overcome than the first, e...Â
9 videos, 2 readings, 2 readings
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Graded: Module 4 Conceptual Quiz