Skip to Main Content

Finance for Engineers: Course Outline - MEM-700

This course of financial management is designed for engineers having none or very little knowledge of accounting and finance. The aim of this course is to provide the students with basic understanding of accounting and finance. After completing this cours

Course outline

  • Basics of Financial Accounting

Purpose, structure of accounting, functions of accounting, double-entry accounting, and debit credit framework, journalizing and posting of financial transactions, preparation of trial balance

  • Financial Statements

Income statement

Balance sheet

  • Analysis of Financial Statements

Ratio analysis

  • Job Order Costing
  • Process Costing

Cost of Production Report; lost unit calculations, addition of materials; average and FIFO costing

  • Discounted cash flow analysis
  • Project selection NPV or IRR?

Budgeting