Mr. Kevin Wright
EGR 505 Managerial Finance for Engineers
3 Credit Hours
Engineers are often called upon to solve many of the company’s biggest problems. These problems typically cross functional boundaries and require a working knowledge not only of the technical considerations but also considerations association with other key areas of the business. One such area, often overlooked by technical professionals is the language of business which often requires a good working knowledge of key principles of accounting and finance. The structure of this course is not to take a traditional finance class and offer it to engineers. The course is structure to use a pragmatic approach to teach engineers the most relevant and significant financial concepts they will need to differentiate themselves in leadership positions in their companies. The class includes both individual and collaborative (team) learning.
An engineering, technical or scientific undergraduate degree is required.
Prior job experience is helpful but not required.
You will need a web cam/microphone to participate in certain virtual team activities.
More information below.
This course is designed to prepare students to move into managerial positions in an engineering or scientific work environment and to use managerial finance for planning, control and decision making.
Upon completion of this course students will be able to:
- prepare and analyze financial statements
- prepare budgets and analyze budget variances
- distinguish relevant and irrelevant costs to enable decisions such as make-or-buy
- determine Return on Investment and create and evaluate capital expenditure proposals
- improve their ability to gain approval for new programs and business opportunities
- apply financial analysis and techniques to improve operational performance in engineering and manufacturing
This course is not:
- a course requiring deep technical knowledge or complicated mathematical calculations
- a course covering construction cost estimation, business evaluation or mergers and acquisitions
- a course to make engineers experts as accountants or finance managers
Your success in the class depends on a mix of learning from others and developing problem solving skills on your own. The course requires learning from assigned readings, solving numerical problems and group work. Students are expected to complete reading assignments (available on the course website) before viewing the posted videos. When teams are assigned group work such as problem sets or case studies, the teams will meet (virtually) at a day and time agreed to by the team. We will use various collaborative systems available to enrich the experience for students. NC State provides the software. You will need to provide a webcam and headset (earphones/microphone).
|Team/group assignments (via virtual teams)||250 possible points
|Examinations||750 possible points
|1000 total possible points|
Managerial Accounting for Managers, 5th Edition
Eric Noreen, Peter C. Brewer, Ray H Garrison, McGraw-Hill Irwin
There will also be readings from other books or business journals. These will be available from links on the course website and will be assigned no later than the prior class session.
There are several group activities that will require students to use web conferencing tools such as Zoom, Collaborate, or Skype. You will need a webcam to participate in collaborative meetings. The inexpensive ones are adequate. You may already have one built into your computer or laptop.
Certain assignments will require students to submit scanned versions of solutions to financial problems. Students should have access to a scanner so they can submit a digital version of those solutions.
Computer and Software Requirements
Please review minimum computer specifications recommended by NC State University and Engineering Online.