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Module

ENG2001 : Accounting, Finance and Law for Engineers

  • Offered for Year: 2020/21
  • Module Leader(s): Mr Donald Halliday
  • Lecturer: Mrs Chris Fletcher
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
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 the functions of their roles in business.

Outline Of Syllabus

(1) Business Structures: sole proprietors, partnerships, companies, forming a company, types of share, listed companies.

(2) Financial Accounting: the primary financial statements, corporate reports, audit requirements, companies acts, accounting standards and fundamental concepts. Accounting for contract work and revenue recognition. Including construction contracts. Simple interpretation of financial statements including ration 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) Health and Safety, Environmental and Intellectual Property Law.

(6) Dispute resolution.

(7) Contract Law.

(8) Negligence and liability for defective products.

(9) Legal risk management.

Teaching Methods

Module leaders are revising this content in light of the Covid 19 restrictions.
Revised and approved detail information will be available by 17 August.

Assessment Methods

Module leaders are revising this content in light of the Covid 19 restrictions.
Revised and approved detail information will be available by 17 August.

Reading Lists

Timetable