Accounting for Engineers and Scientists

Since the world?s economies are increasingly driven by technological change and innovation, engineers are especially well qualified to make important contemporary business decisions that may have an effect on an organization?s employees and shareholders, as well as on members of the global community. But in order for engineers to become key contributors to the management decision making process, they must first understand the language of business - accounting.

This book provides engineering students with a solid foundation in basic financial and managerial accounting principles and systems. Students will gain a practical understanding of budgets and cost, performance reports, and financial statements of for-profit business entities, and will be introduced to tax, governmental, and not-for-profit accounting. Geared specifically towards the engineer?s perspective, this book offers:

• Equations to help teach accounting concepts
• Spreadsheet-based accounting problems
• Real-world accounting examples based on technology-driven organizations and markets

Offering useful skills and a solid foundation in accounting, this book is ideal for undergraduate and graduate engineering students with an interest in business.

Part I: An Introduction to Accounting and the Profession of Accounting  1. The Activities and Responsibilities of Accountants and Engineers  Part II: Financial Accounting  2. The Technology Driven Business Environment and Four Basic Financial Statements  3. Financial Accounting Concepts  4. The Accounting Cycle  5. Adjusting and Closing Entries  6. Cash and Accounts Receivable  7. Inventory  8. Fixed Assets and Intangibles  9. Liabilities  10. The Cash Flow Statement and Financial Statement Ratios  Part III: Managerial Accounting  11. Cost Concepts and Behavior  12. Cost-Volume-Profit Analysis (CVP)  13. Activity-Based Costing (ABC)  14. Budgeting  15. Standard Costing and the Balanced Scorecard  Part IV: Tax, Governmental and Not-For-Profit Accounting  16. Federal Taxation and Tax Incentives  17. Governmental and Not-For-Profit Accounting

Thomas Finnegan is Lecturer of Accountancy and Director of Undergraduate Accountancy Program at the University of Illinois at Urbana-Champaign, USA.