Introduction to Accounting and Finance for Civil Engineers

With the changing paradigm of the construction industry, and introduction of different contracting models, with the government trying to play more of a regulatory role and withdrawing from financial commitments, and the space being occupied by financial institutions, civil engineers in the modern day are expected to be familiar with basic accounting and finance. This aspect is almost completely missing from any curriculum in civil engineering and hence there is a need to make relevant material available in an online course, which students and practicing engineers can refer to at their convenience.Regular assignments and a final test will also be uploaded along with solutions as may be required.INTENDED AUDIENCE :Undergraduate and graduate students of civil engineering are the primary targeted audience. Young practicing engineers and engineering students from other departments may also find it very usefulPREREQUISITES :NILINDUSTRY SUPPORT :All construction and consulting companies in the area of planning, design and construction of infrastructure projects. The material will also be useful for companies engaged in BOOT and other models of working with projects, especially in the highway sector.

Week 1 :Basic Accounting and concepts in finance; Book keeping: definitions, objectives, elements, journal and ledger.Week 2 :Accounting & Concepts in Finance I: definitions, objectives, characteristics, limitations, basic terms; GAAP (Generally Accepted Accounting Principles)Week 3 :Accounting & Concepts in Finance II: Systems of accounting, cash book, bank book, depreciation; provisions, reserves, accounting equation, journal & ledger entries,trial balance, profit & loss; account,balance sheet, cash flow statement)Week 4 :Analysis of financial statements I: Financial leverage, financial ratiosWeek 5 :Analysis of financial statements II: Significance and applicationsWeek 6 :Financial planning including capital budgeting I: Definition, financial planning options and objectives, time value of moneyWeek 7 :Financial planning including capital budgeting II: simple and compound interest, rule of 72, methods of capital budgeting - payback periodWeek 8 :Financial planning including capital budgeting III: Accounting rate of return (ARR), net present value (NPV), internal rate of return (IRR)