Whether working in the public or private sector, engineers are constrained by financial realities. Knowledge of accounting - how it works, its assumptions, and its usefulness - is an essential prerequisite to informed to informed participation in business decision-making. The purpose of this course is therefore to provide a sound basic understanding of accounting - the "language of business" - and to develop skills in the interpretation and use of accounting information. The course will provide a thorough understanding of how accounting information is used in organizations. We briefly consider reporting to external parties (financial accounting), and consider in more depth the measurement of product and activity cost (cost accounting), and the use of cost information for decision-making, planning, budgeting, and the measurement of performance (management accounting).(Lead Instructor: David Sharp, Western Ontario)
Whether working in the public or private sector, engineers are constrained by financial realities. Knowledge of accounting - how it works, its assumptions, and its usefulness - is an essential prerequisite to informed to informed participation in business decision-making. The purpose of this course is therefore to provide a sound basic understanding of accounting - the "language of business" - and to develop skills in the interpretation and use of accounting information. The course will provide a thorough understanding of how accounting information is used in organizations. We briefly consider reporting to external parties (financial accounting), and consider in more depth the measurement of product and activity cost (cost accounting), and the use of cost information for decision-making, planning, budgeting, and the measurement of performance (management accounting).(Lead Instructor: David Sharp, Western Ontario)
