Managerial Accounting: Decision-Making Tools
Master key managerial accounting concepts for financial decision-making. Learn cost analysis, allocation, and relevant cost evaluation.
Master key managerial accounting concepts for financial decision-making. Learn cost analysis, allocation, and relevant cost evaluation.
This course, developed by the Darden School of Business at the University of Virginia, provides a comprehensive introduction to managerial accounting fundamentals. Learners explore essential concepts and tools used by managers for financial decision-making. The curriculum covers cost behavior, cost-volume-profit analysis, cost allocation systems, and relevant cost analysis for various business decisions. Through practical examples and case studies, participants learn to analyze financial information, estimate cost functions, conduct breakeven analyses, and evaluate the financial impact of management decisions. The course emphasizes the distinction between relevant and irrelevant costs and benefits, enabling learners to make informed business choices. By the end, students will have gained valuable skills in financial analysis and decision-making applicable across various business contexts.
4.8
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English
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What you'll learn
Describe different types of costs and their graphical representations
Conduct cost-volume-profit analyses for breakeven and profit generation
Calculate and allocate overhead rates in traditional and activity-based cost systems
Distinguish between relevant and irrelevant costs for management decisions
Estimate cost functions using scatter plots and the high-low method
Prepare and analyze functional and contribution margin income statements
Skills you'll gain
This course includes:
4 Hours PreRecorded video
12 assignments
Access on Mobile, Tablet, Desktop
FullTime access
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There are 4 modules in this course
This course provides a comprehensive introduction to managerial accounting, focusing on the financial and related information managers need for decision-making. Over four modules, learners explore key concepts in cost behavior, cost-volume-profit analysis, cost allocation systems, and relevant cost analysis. The curriculum begins with distinguishing managerial from financial accounting and understanding various cost types and their behaviors. Students learn to estimate cost functions using scatter plots and the high-low method. The course then delves into cost-volume-profit analysis, teaching learners to conduct breakeven analyses and evaluate profit scenarios. Cost allocation is covered in depth, comparing traditional and activity-based costing systems. The final module focuses on identifying relevant costs and benefits for specific management decisions, such as special orders, make-or-buy decisions, and product line choices. Throughout the course, practical examples and case studies help students apply these concepts to real-world business scenarios.
Managerial Accounting and Cost Behavior
Module 1 · 3 Hours to complete
Cost-Volume-Profit Analysis
Module 2 · 4 Hours to complete
Cost Allocation
Module 3 · 2 Hours to complete
Relevant Costs and Benefits
Module 4 · 2 Hours to complete
Fee Structure
Payment options
Financial Aid
Instructor
Expert in Accounting and Incentive Systems
Luann J. Lynch is an associate professor at the University of Virginia's Darden School of Business, where she teaches accounting in the First Year core MBA program and a Second Year elective in management accounting. She holds a B.S. from Meredith College, an MBA from Duke University, and a Ph.D. from the University of North Carolina. Lynch is recognized for her outstanding teaching, having received the University of Virginia Alumni Board of Trustees Teaching Award and been elected Faculty Marshall multiple times.
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4.8 course rating
766 ratings
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