INTRODUCTION

Knowledge of basic accounting and finance will enable engineers and project managers to prepare, appraise, evaluate, and approve plans to accomplish departmental and company objectives. Most engineers who are promoted to management positions have years of training and experience in their technical areas but very limited orientations, education, or experience in cost analysis, budgeting, or project management. For the new engineering managers, the first item of business is survival. They must be knowledgeable and able to communicate effectively with accountants, financial officers, other engineers, and a host of upper and middle management people.