ENG2001 : Accounting, Finance and Law for Engineers (Inactive)
- Inactive for Year: 2025/26
- Available to incoming Study Abroad and Exchange students
- Module Leader(s): Mr Donald Halliday
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 5 |
| Semester 2 Credit Value: | 5 |
| ECTS Credits: | 5.0 |
| European Credit Transfer System | |
Aims
This is an introductory module for engineers that aims to equip students with a basic knowledge of finance, accounting and law so that they understand their relevance and impact in the business and legal aspects of all branches of Engineering.
The design of the module is informed by the requirements of The Engineering Council's UK-SPEC
[https://www.engc.org.uk/ukspec.aspx].
Outline Of Syllabus
(1) A overview of different business structures: sole proprietorships, partnerships, limited and public limited companies, groups of companies and joint ventures.
(2) Financial Accounting: the primary financial statements, fundamental concepts, corporate reports, audit requirements, general impact of the companies acts and accounting standards. Simple interpretation of financial statements including ratio analysis.
(3) Management Accounting: cost classification, contribution, marginal costing and cost/volume/profit analysis. Overhead analysis - absorption and recovery costing. Activity Based Costing, standard costing and budgetary control.
(4) Financial considerations in project appraisal: payback, net present value, internal rate of return. Allowing for risk including sensitivity analysis, simple game theory and Monte Carlo simulation.
(5) An awareness of key Health and Safety, Environmental and Intellectual Property Laws.
(6) Different models and processes used in dispute resolution.
(7) An introduction to Contract Law.
(9) An introduction to legal risk management relevant to engineering projects and contracts.
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 11 | 1:30 | 16:30 | PIP Lectures: Law content |
| Scheduled Learning And Teaching Activities | Lecture | 11 | 1:30 | 16:30 | PIP lectures: Accounting content |
| Guided Independent Study | Assessment preparation and completion | 1 | 15:00 | 15:00 | Law |
| Guided Independent Study | Assessment preparation and completion | 1 | 15:00 | 15:00 | Accounting |
| Guided Independent Study | Directed research and reading | 1 | 10:00 | 10:00 | Law |
| Guided Independent Study | Directed research and reading | 1 | 10:00 | 10:00 | Accounting |
| Scheduled Learning And Teaching Activities | Drop-in/surgery | 2 | 0:30 | 1:00 | Online Sessions: Law |
| Scheduled Learning And Teaching Activities | Drop-in/surgery | 2 | 0:30 | 1:00 | Online Sessions: Accounting |
| Guided Independent Study | Independent study | 1 | 15:00 | 15:00 | N/A |
| Total | 100:00 |
Teaching Rationale And Relationship
The teaching and learning activities are designed to engage students in a rich and varied collection of resources to encourage independent critical thought, discipline, engagement and continual self assessment with a view to continuous achievement of the module leaning outcomes.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Digital Examination | 60 | 1 | A | 50 | Online PC examination |
| Digital Examination | 60 | 2 | A | 50 | Online PC Examination |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 1 | M | Practice questions provided |
| Prob solv exercises | 2 | M | Practice questions provided |
Assessment Rationale And Relationship
The formal examinations test students’ knowledge and skills outcomes in accounting and law applicable to the business and legal aspects of engineering.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ENG2001's Timetable