Global Opportunities

ENG2001 : Accounting, Finance and Law for Engineers

Semesters
Semester 1 Credit Value: 5
Semester 2 Credit Value: 5
ECTS Credits: 5.0

Aims

This is an introductory module for engineers that aims to equip students with a basic knowledge of finance, accounting and law so that they understand their relevance and impact in the business and legal aspects of all branches of Engineering.

The design of the module is informed by the requirements of The Engineering Council's UK-SPEC
[https://www.engc.org.uk/ukspec.aspx].

Outline Of Syllabus

(1) A overview of different business structures: sole proprietorships, partnerships, limited and public limited companies, groups of companies and joint ventures.

(2) Financial Accounting: the primary financial statements, fundamental concepts, corporate reports, audit requirements, general impact of the companies acts and accounting standards. Simple interpretation of financial statements including ratio analysis.

(3) Management Accounting: cost classification, contribution, marginal costing and cost/volume/profit analysis. Overhead analysis - absorption and recovery costing. Activity Based Costing, standard costing and budgetary control.

(4) Financial considerations in project appraisal: payback, net present value, internal rate of return. Allowing for risk including sensitivity analysis, simple game theory and Monte Carlo simulation.

(5) An awareness of key Health and Safety, Environmental and Intellectual Property Laws.

(6) Different models and processes used in dispute resolution.

(7) An introduction to Contract Law.

(9) An introduction to legal risk management relevant to engineering projects and contracts.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture111:3016:30PIP lectures: Accounting content
Scheduled Learning And Teaching ActivitiesLecture111:3016:30PIP Lectures: Law content
Guided Independent StudyAssessment preparation and completion115:0015:00Accounting
Guided Independent StudyAssessment preparation and completion115:0015:00Law
Guided Independent StudyDirected research and reading110:0010:00Accounting
Guided Independent StudyDirected research and reading110:0010:00Law
Scheduled Learning And Teaching ActivitiesDrop-in/surgery20:301:00Online Sessions: Accounting
Scheduled Learning And Teaching ActivitiesDrop-in/surgery20:301:00Online Sessions: Law
Guided Independent StudyIndependent study115:0015:00N/A
Total100:00
Teaching Rationale And Relationship

The teaching and learning activities are designed to engage students in a rich and varied collection of resources to encourage independent critical thought, discipline, engagement and continual self assessment with a view to continuous achievement of the module leaning outcomes.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Digital Examination601A50Online PC examination
Digital Examination602A50Online PC Examination
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MPractice questions provided
Prob solv exercises2MPractice questions provided
Assessment Rationale And Relationship

The formal examinations test students’ knowledge and skills outcomes in accounting and law applicable to the business and legal aspects of engineering.

Reading Lists

Timetable