ENG2001 : Accounting, Finance and Law for Engineers
- Offered for Year: 2019/20
- Module Leader(s): Prof. Alison Firth
- Lecturer: Mr Donald Halliday, Mrs Chris Fletcher
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
|Semester 1 Credit Value:||5|
|Semester 2 Credit Value:||5|
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.
|Scheduled Learning And Teaching Activities||Lecture||24||2:00||48:00||N/A|
|Guided Independent Study||Directed research and reading||1||26:00||26:00||N/A|
|Guided Independent Study||Independent study||1||26:00||26:00||N/A|
Teaching Rationale And Relationship
Students' are encouraged read around the lecture material as delivered in the formal lectures.
The format of resits will be determined by the Board of Examiners
Assessment Rationale And Relationship
The paper will test, through the use of problem questions, the knowledge, understanding and application of candidates together with an appreciation of business risk management using both accounting and law.