Book Description
This book provides a practical approach to making integrated
financial decisions in contemporary organizations. While
mathematics is used throughout, the focus of this text is the
application of the math techniques in real-world settings.
'Examples, Questions, Problems, and Discussion Cases balance
quantitative analysis, team based decisions, technical factors,
and qualitative information.'
Features and Benefits
Presents the details and interrelationships of Traditional
Engineering Economy Techniques (65% of book); basic organizational
financial statements and accounting concepts (20% of book); and
contemporary and team approaches to cost reduction, Continuous
Profit Improvement, Quality Economics, Measuring Financial
Results, and Total Financial Management (15% of book).
Covers applied engineering economics topics and decision making
techniques with examples. Time value of money techniques are
explained using diagrams, equations, tables, and software
applications. Examples cover engineering design, process
engineering, construction, manufacturing, software,
non-manufacturing and service industries, and personal
applications.
Provides a basis for financial and technical decision making
grounded in an understanding of organizational financial concepts
and engineering economy principles, financial statements,
accounting and cash flow concepts. These are presented using a
simple accounting equation and time value of money approach that
is easily understood by non-financial students, managers, and
technical personnel.
Presents current techniques such as measuring financial results,
continuously improving profits and reducing costs, quality
economics, and Total Financial Management that are used in making
contemporary financial decisions by teams of engineers, managers,
technicians, operating, and financial personnel.
Provides practical applications of the interrelationships among
engineering economy techniques, continuous improvement of costs
and profits, and basic financial/accounting concepts.
Provides applications of these techniques that individuals can use
in making personal financial decisions. Among the topics discussed
and analyzed are loans, investments, mortgages, and others.
Each chapter analyzes real-life examples and situations. By
providing models for on-the-job financial improvements and
decisions, the book is a useful tool for students as well as
working engineers and managers.
Incorporates a number of pedagogical aids into the text. Among
these are key terms and definitions; key learning concepts; an
introduction and summary in each chapter; examples, calculations,
and solutions of each concept; over 400 review questions; 300
problems; and 50 Discussion Case Problems.
Synopsis
This work presents the interrelationship between engineering
economy, manufacturing costs, cost improvements, and related
topics from the perspective of technical and operating personnel
rather than a financial perspective.
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