This Graduate Diploma in Business Studies is designed for students who wish to master their knowledge in general business.
Learn how managerial accounting is used to facilitate and guide business decisions. Topics will include planning (e.g., budgets), variance analysis, and overall performance measurement.
Week 1: Course Overview and Relevant Information for Decision Making
Week 2: Budgeting for Planning and Control
Week 3: Standard Costing and Variance Analysis
Week 4: Performance Measurement and Evaluation
Managerial Accounting: Tools for Facilitating and Guiding Business Decisions is course 2 of 7 in 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 greater surplus 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 the University of Illinois iMBA Program. Each course fulfills a portion of the requirements for a University of Illinois course that can earn you college credit. When you complete the Value Chain Management Specialization, you will: · Understand how to apply a financial perspective of accounting for costs, understand how financial and non-financial accounting information facilitates strategic performance measurement, and integrate this information to continuously improve strategy. · Understand the role of operations management and process improvement, synthesize information to make decisions for organizational initiatives, and apply analytical techniques for tactical operations and process improvement decisions. · Understand how marketing works in the business world and how various marketing elements interact to create value for consumers and ultimately maximize value for your organization.