EM501 MANAGEMENT ACCOUNTING AND ENGINEERING ECONOMICS
| Course Code: | 8660501 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 8.0 |
| Department: | Engineering Management |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Assoc.Prof.Dr. İSMAİL SERDAR BAKAL |
| Offered Semester: | Fall or Spring Semesters. |
Course Objectives
- At the end of the course, the students will understand basics of financial accounting procedures and interpret financial statements.
- At the end of the course, the students will be able to apply costing techniques for different manufacturing/service environments.
- At the end of the course, the students will be able to use cost information in planning and decision making.
- At the end of the course, the students will have a solid understanding of the time value of money.
Course Content
Basics of financial accounting; preparation of financial documents. Inventory valuation and depreciation methods. Definition of costs; costing techniques. Economic analysis for engineering and managerial decision making. Interest and time value of money. Economic Equivalence; methods for evaluating alternatives. Economic analysis in public sector. Inflation and its impacts.
Course Learning Outcomes
Students will be able to
- record transactions in a business cycle,
- prepare financial documents,
- perform financial statement analysis,
- allocate costs in a job-costing environment,
- allocate costs in a process costing environment,
- apply activity based costing to increase accuracy in cost allocation,
- prepare budgets,
- perform variance analysis,
- identify relevant costs in a decision making problem,
- select among alternative courses of actions,
- use engineering economy factors,
- compare alternatives via present worth, future worth and annual worth methods.
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Have improved awareness of financial aspects, risks and trade-offs associated with the decisions. | ✔ | |||
| 2 | Can effectively solve complex problems in areas related with their background, integrating their non-Industrial Engineering undergraduate educational knowledge with the Engineering Management skills. | ✔ | |||
| 3 | Can integrate their engineering skills with practical business knowledge. | ✔ | |||
| 4 | Appreciate the academic ethics. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution