About this courseSkip About this course
Success in any organization requires measurement systems to support decision making. This course focuses on preparing and analyzing accounting information for internal decisions that are often required to be made by both accounting and non-accounting professionals. In particular, the course will highlight how internal accounting information can be used (and often misused) when making complex business decisions. Managerial accounting is not constrained by the rules and regulations that surround financial accounting, which allows us to develop tailored measurement systems that provide a framework for planning and control, as well as costing products, services, and customers.
Students enrolled in this course will learn to prepare basic financial statements (e.g., balance sheet and income statement). In particular, they will understand how direct and overhead costs influence inventory and cost of goods sold calculations and are accounted for under financial reporting. Further, they will also learn to understand the importance of budgeting and how standard costing and variance analysis are used in evaluating managerial performance. In addition, students will learn how cost behavior and financial information are used in operational decision making and pricing. Finally, students will gain a basic understanding of how cash flows are used in capital budgeting decisions.
Verified Learners will need to purchase a textbook in order to successfully complete the course. See the FAQ for details.
What you'll learnSkip What you'll learn
- Understand the key technical aspects of managerial accounting, including basic terminology and internal measurement systems
- How to confidently analyze information to make decisions, includingidentifyingand analyzingcosts, preparingbudgets, and applyingan economic framework
- Understandaccounting’s theoretical framework and its interdisciplinary links
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Frequently asked questions
Does this course require a textbook?
Yes, if you are Verified Learner, a textbook is required. If you choose to verify, you will also need to purchase a copy of Garrison, R. (2018). Managerial Accounting (16th ed.). McGraw-Hill Higher Education. Print ISBN: 9781259307416, 1259307417: eText ISBN: 9781259995484, 1259995488. This textbook typically costs around $57.50 to rent and $93.75 to purchase permanently. A digital copy is acceptable.
Who can take this course?
Unfortunately, learners from one or more of the following countries or regions will not be able to register for this course: Iran, Cuba and the Crimea region of Ukraine. While edX has sought licenses from the U.S. Office of Foreign Assets Control (OFAC) to offer our courses to learners in these countries and regions, the licenses we have received are not broad enough to allow us to offer this course in all locations. EdX truly regrets that U.S. sanctions prevent us from offering all of our courses to everyone, no matter where they live.