About the Course

The Business Accounting for Engineers course aims to equip Engineers with a good grasp of Accounting and Business, starting with some basics and covering key concepts like Costs, Margins, Controls and Working Capital.

Engineers eventually work for commercial businesses that chase profits.Therefore, a basic understanding of Finance and Accounting concepts will not only make them far more employable to start with, but also help them in their professional growth as business managers.

A good understanding of Accounting fundamentals, Concepts of Costs, Margins, Controls, Working Capital etc. is essential for success in any role within a business.

The Business Accounting for Engineers ​course offered by SoundBasics is aimed at meeting the above need, and is tailor made to give Engineers just what they need in terms of Finance and Accounting knowledge.

Why is Knowledge of Finance required for Engineers ?

Course Content

  • Introduction to the Accounting System
  • Forms of Business Organisations
  • Key features of a Sole Proprietorship, Partnership & a Company form of organisation
  • Introduction to the Accounting Equation
  • Components of the Accounting Equation
  • How the Balance sheet represents the Accounting Equation
  • More on the Equity Component of the Accounting Equation
  • Rules of Debit & Credit
  • Debit/Credit Identification
  • Introduction to Grouping
  • Grouping in the Balance Sheet
  • Grouping in P&L Statement
  • Introduction to Journal Entries
  • More Journal Entries & Accrual Concept
  • Journal Entry to Ledger
  • Ledger to Trial Balance
  • Understanding Adjusting Entries and the Closing Process
  • Preparation of the P&L Statement & Balance Sheet for Sevice Entities
  • Valuation of Inventory
  • Preparation of the P&L Statement & Balance Sheet for Trading Entities
  • Meaning of Direct & Indirect Costs
  • Significance of classifying costs as Direct & Indirect
  • Meaning of Fixed & Variable Costs
  • Significance of classifying costs as Fixed & Variable
  • Meaning of Capital & Revenue Expenditure
  • Understanding the impact of Capital & Revenue Expenditure on the P/L Statement
  • Meaning and Need for Project Costing
  • Benefits of Project Costing
  • Meaning and components of Working Capital
  • Need for and significance of Working Capital Management