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Accounting – Business for Engineers
Mohammad Tawfik
Busine...
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Accounting – Business for Engineers
Mohammad Tawfik
What i...
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Accounting – Business for Engineers
Mohammad Tawfik
In oth...
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Accounting – Business for Engineers
Mohammad Tawfik
Record...
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Accounting – Business for Engineers
Mohammad Tawfik
Double...
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T-Acco...
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Accounting – Business for Engineers
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Balanc...
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Accounting – Business for Engineers
Mohammad Tawfik
Balanc...
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Accounting – Business for Engineers
Mohammad Tawfik
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Accounting – Business for Engineers
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Liquid...
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Accounting – Business for Engineers
Mohammad Tawfik
Assets...
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Accounting – Business for Engineers
Mohammad Tawfik
Liabil...
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Accounting – Business for Engineers
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Accounting – Business for Engineers
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Accounting – Business for Engineers
Mohammad Tawfik
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Profit...
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Accounting – Business for Engineers
Mohammad Tawfik
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Accounting – Business for Engineers
Mohammad Tawfik
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Accounting – Business for Engineers
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Business Management - Accounting

What is accounting?
What is a balance sheet?
What are the basic accounting things to know?

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Business Management - Accounting

  1. 1. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Business Management forBusiness Management for EngineersEngineers Accounting: A quick overviewAccounting: A quick overview Mohammad Tawfik
  2. 2. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik What is accounting? ● Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. (Wikipedia)
  3. 3. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik In other words ... ● Accounting is: An information systeminformation system that records and reflects information about operationsoperations of an organization from a financialfinancial point of view.
  4. 4. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik RecordingRecording Basic block of all accounting
  5. 5. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Double Entry ● Each operation has two sides.
  6. 6. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Journal Entry ● Debit and Credit
  7. 7. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik T-Accounts ● Each party has a record
  8. 8. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Balance SheetBalance Sheet A snap-shot fixed in time
  9. 9. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Balance Sheet ● The fundamental equation: Assets = Liabilities + Owner Equity
  10. 10. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik
  11. 11. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Liquidity ● How quickly can you transfer something into cash
  12. 12. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Assets ● Current ● Fixed (Non-current)
  13. 13. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Liabilities ● Accounts payable ● Creditors
  14. 14. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Owner Equity ● Capital ● Earned Profit (Sales - Expenses)
  15. 15. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Cash Flow StatementCash Flow Statement How much cash!
  16. 16. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Cash Flow Statement ● A series of pictures about the amount of cash we have
  17. 17. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik
  18. 18. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Profit/Loss statementProfit/Loss statement How are we doing?
  19. 19. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Profit/Loss Statement ● Simply: Gross Sales - Expenses
  20. 20. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik
  21. 21. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Financial RatiosFinancial Ratios How to compare different business?
  22. 22. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Return on Investment How good investing in this business is?
  23. 23. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Profit Ratio ● Net Profit to cost ( <100%)
  24. 24. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Profit Markup ● Sales per cost
  25. 25. http://WikiCourses.WikiSpaces.com http://AcademyOfKnowledge.org Accounting – Business for Engineers Mohammad Tawfik Bibliography ● Accounting Principles For Engineers, by Charles Reitell; Clarence Van Sickle ● What Every Engineer Should Know about Accounting and Finance, by Jae K. Shim, Norman Henteleff ● Accounting: An Introduction, by McLaney and Atrill ● Financial Accounting: An International Introduction, by David Alexander and Christopher Nobes ● Financial Accounting, by Weetman ● Financial and Management Accounting, by Weetman

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