Note: The following provides a suggested course description,
objectives, and an outline. These may be modified pending discussion with
the Faculty Chairs, proposing faculty, and other curriculum
reviewers.
Course Description: Businesses are the "engines" of
our economy. In their pursuit of profits, they outlay cash, then pull it
back, in exchange for goods and services. In this process, businesses
attempt to accumulate cash and it's equivalents to either: 1) build a
larger engine, or 2) distribute wealth to owners. To be successful at
"cash" accumulation, managers need an understanding of where their assets
are, and control over where they are going. Accounting and finance are the
science and engineering for the management of a company's cash and other
assets. The Financial Accounting Standards Board (FASB) has set up
nationally recognized standards for the "instrumentation" of a business.
With these accurate measurements of a business's state, financial
professionals can then engineer the flow of cash through the business and
the economy and accumulate cash/profits/wealth for the owners. This course
is designed to give technical professionals an understanding of basic
techniques and concepts of financial management and accounting. The focus
of this course is on understanding theory and practice in accounting and
financial analysis. Studies will direct students to not only comprehend
financial statements, but also the effect of the decisions behind the
statements for all stakeholders.
Course Objectives: The engineer or
technically-prepared professional will: focus on the key concepts, issues
and applications of accounting and finance rather than the technical
accounting/finance details; develop an increased knowledge of the
concepts, principles and the assumptions underlying financial information;
gain a working understanding of accounting and finance fundamentals, ?
understand the sources and uses of financial information, ? learn how to
measure financial results, ? explore how financial planning that takes
place within the corporation, ? learn how decision-makers use financial
information to make better business decisions, ? investigate how companies
handle money and how the bottom line is impacted, ? learn the ways in
which accounting and finance are relevant to and impact the technical
entities within the organization and how finance and accounting tie the
technical aspects of the organization to the other business entities, ?
become better prepared for management duties.
Course Outline by Topical Areas:
|
Collection, processing, reporting of
financial information |
|
Accounting information - who uses it and
for what purposes |
|
Financial Statements and Accounting
Concepts/Principles |
|
Financial statement analysis
|
|
Accounting and valuation of intellectual
capital |
| Managerial/Management Accounting
|
|
Cost Analysis for Decision making
|
|
Profit, growth, value of inventory, cost
of capital |
|
Resource allocation decisions
|
| Financial/Managerial Decision Making
|
|
Financial input to decision making
|
|
Strategic and tactical decision-making
|
|
Risk and uncertainty associated with
financial decisions |
|
Long-term, strategic financial decision
making |
|
Use of budgets in decision making
|
|
Working capital management
|
|
Accounting Information Systems
|
|
Non-financial measures of performance
|
|
Finance and corporate strategy
|
|
Investment decisions and acquisitions
|
|
Asset and liability management
|
|
Market value vs. book value gap
|
| Project analysis and assessment
|
| Ethical considerations in accounting and
finance and ensuring the integrity of financial information
|
