In this course, you will learn how to use accounting to facilitate and align decisions made by owners, managers, and employees. You will learn how accountants create, organize, interpret, and communicate information that improves internal processes and allows organizations to identify and leverage opportunities to create value within the supply chain and with customers. You will be able to: • Understand what managerial accounting is and why it is an important function for successful businesses • Identify problems associated with relying on financial accounting information for internal decision making • Organize cost information according to the decision-making needs of the organization • Apply activity-based costing (ABC) and recognize circumstances and decisions for which ABC systems are relevant • Address common "what-if" questions using cost-volume-profit (CVP) analysis and apply CVP in a variety of scenarios 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/.
RK
Great Course that gives you the basics of Costing and it's relevant in regular Business decisions. Well articulated to ensure that people new to the concepts also understand it clearly!
NP
I really enjoyed this course. It was really easy for me to grasp complex concepts. Thank you for designing the course in such a way. It really helped me a lot.
AP
Good content overall for the course. Easy to understand in one go. Very well articulated by the Instructor along with relevant examples from practical life scenarios. Thanks a lot Gary!
RB
S​eems well-designed to test competency. However, didn't seem appropriate for those with absolutely no basic knowledge of accounting terms (e.g. what is "Gross Margin"?).
AS
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.
PS
This Course reinforces valuable skills in cost analysis and decision-making. Highly appreciated and would I recommend it to other students. Thank you.
SK
Appreciated it was informative but not overwhelming. Great to be able to go back and re-watch the examples and hear their explanations again. You do not get that in an in person course.
MM
All good, but the criteria of the peer review assignment is so unfair having so limited number of grades without much space for the reviewer to really rate the work well
SB
Good course with lots of information. Text has a lot of errors that need to be corrected. Intro to videos could be shortened a little. No reason to have a 15-20 second intro on each one.
JC
Professors Gary Hecht and Ron Guymon were terrific in their pedagogical methods. I learned and I can remember the material because it was reinforced via various methods.
AK
The explaining of the concepts especially ABC analysis and Cost Volume Profit Analysis was on the spot and worth its value. Professor Hecht has done a wonderful job
WG
The topics are very precise and straight forward to the practice, I just would like to say that more practice would be fantastic with real cases but the time to complete the task is to short
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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.
Very great introduction to managerial accounting for those unfamiliar with the subject. As a new small business owner with no formal business education, I can say that this course is hugely valuable for understanding costs within an organization.
I have been using most of the terminology in my regular work , however now I could understand it better. I am sure the applicability of the terms would be more appropriate . It was a good learning.
Your feedback process is seriously lacking. It did not help me one single bit to not know why incorrect answers were wrong...especially the final quiz when I believe I got them all right. You say I had 1.4 incorrect answers. For a 71 year old grandmother who has been a financial accountant for more than 45 years and was forced into this course by a boss who didn't understand that financial & cost accounting are 2 very different things, to all of a sudden have to try and become a Cost Accountant, there's lots missing for me here. Granted you want us to sign up to continue learning. So I guess this course is a good general overview. However, in order to retain what was "learned" there would need to be much more review, instruction, discussion, practice etc. And FIX YOUR FEEDBACK PROCESS for goodness sake! Thanks for listening.
The topics are very precise and straight forward to the practice, I just would like to say that more practice would be fantastic with real cases but the time to complete the task is to short
Great course overall, the assumptions question on CVP Quant quiz doesn't really make sense though. Other than that great materials and lectures
The course lacks clarity for new learners; as a beginner course, this one looks like very fast n hurried up the course. I was looking for something more elaborative and deep learning course to give more insights and real-world examples associated with managerial accounting. Furthermore, the techniques to calculate the costs aren't given, like how one should take things into account or how to get the data associated with those costs.
Mini-project grades system is awful. btw, you have to wait till three students review you project. One more point is that, the contents of videos are not that enough. You can just read the required textbook to get all knowledge and examples.
My main career goal is to learn different concepts related to my subject every day. I really want to learn and progress in my career. Programming requires constant learning and improvement. Taking this course will help me to learn and study this managerial Accounting: cost behaviors, systems, and analysis and also to implement it. It can help me advance in my knowledge. This course will help me in defining Managerial Accounting, understanding how Accounts could potentially impact our business and industry, write a thought leadership piece regarding use cases and industry potential Managerial Accounting, explain Managerial Accounting to clients, friends, joining a community of economists, business leaders, entrepreneurs, and Accountant that are shaping this Accounting as we speak. Identifying which aspects of Managerial Accounting seem most important and relevant to us, Walking away with a strong foundation in where Managerial Accounting is going, what it does, and how to prepare for it. A Managerial Accounting course will help me achieve it to learn. Courses on Coursera helped me to greatly increase my Accounting knowledge and Accounting concepts.
I enjoyed this course more then expected. While the content at times seemed too "light" and overall was fairly easy, I found myself engaged (I have no organic interest in accounting) and learning useful ideas. Cases and problems were all interesting as well.
This course was great and carefully structured. My advice if you decide to take it is "don't skip anything". You'll have a better understanding of cost analysis if you review every piece of the resources provided (videos, readings and articles)
Excellent course material! The readings were informative and had articles to break up the text book monotony. The lecture videos covered and showed almost anything I was previously unsure about. I would recommend this course to anyone.
Good content overall for the course. Easy to understand in one go. Very well articulated by the Instructor along with relevant examples from practical life scenarios. Thanks a lot Gary!
Great Course that gives you the basics of Costing and it's relevant in regular Business decisions. Well articulated to ensure that people new to the concepts also understand it clearly!
Great course, covers a lot of useful topics
Good course with lots of information. Text has a lot of errors that need to be corrected. Intro to videos could be shortened a little. No reason to have a 15-20 second intro on each one.
The instructor is great, and the course content is good. So why do I give only three stars? I took this course as a trial course to see if the iMSM degree, of which this course is a part, would be something for me to pursue. After succesfully completing the course in three days, I can't figure out why this course is 'master' level education. It's college algebra at best, some smart kids may be able to complete this course in high schoool. So, if this course is indicative of the iMSM level, I'll have to pass. To be clear, I have no prior knowledge of managerial or any other form of accounting. Disappointed to put it mildly.
In module quiz we are not not able to know which is wrong which is correct when multiple answer choice are given so please enable the answers we opted for question
I like the way it was taught to us. I enjoy it. It does not waste your time, the main focus was on the concepts of Managerial accounting. I learned the best way to look at the products need to be eliminated for better profit and focus on the winning profits. I also learn that CPV analysis is the method Managers need to adopt for internal reporting.
This course imparts tremendous learning and provides valuable tools for decision making. I would strongly recommend it for students as well as managers for equipping themselves, through it, in the art and science of decision making, some of which could make a huge difference for the organization.
Excellent course!