Since coming to the Johnson Graduate School of Management in 1991, Robert J. Bloomfield has used laboratory experiments to study financial markets and investor behavior. He has also published in all major business disciplines, including finance, accounting, marketing, organizational behavior, and operations research. Professor Bloomfield served as director of the Financial Accounting Standards Research Initiative (FASRI), an activity of the Financial Accounting Standards Board, and is an editor of a special issue of Journal of Accounting Research dedicated to Registered Reports of empirical research. Professor Bloomfield has recently taken on editorship of Journal of Financial Reporting, which is pioneering an innovative editorial process intended to broaden the range of research methods used in accounting, improve the quality of research execution, and encourage the honest reporting of findings.
All organizations understand the importance of maximizing revenue while minimizing costs. Yet this goal is only possible if you can accurately determine the margin you can expect on all the outputs you produce. If you're maintaining a factory or office that produces varied goods and services, how much of your overhead should be assigned to each output? What if a single process creates multiple products; how can you really determine the accurate cost of each individual output?
In this course, you will be introduced to techniques that tease apart these complicated situations and determine how much value each output is truly delivering for your organization. You'll explore real-world case studies, investigate qualitative margin analysis, and perform simple job cost allocations. With the aid of the uniquely crafted spreadsheets and deliberation guides, you'll practice analyzing financial data and creating recommendations that can ultimately improve your organization's margins.
The following course is required to be completed before taking this course:
- Improving Governance
Key Course Takeaways
- Explore the use of qualitative margin analysis to investigate the cost of goods and services
- Perform a simple job cost allocation to calculate the cost of different jobs
- Investigate the use of two-stage costing and other improvements to better allocate overhead costs
How It Works
Who Should Enroll
- Managers and leaders responsible for a business unit
- Managers and leaders seeking to improve organizational performance
- Individuals influencing the design of accountability systems