"Engineering Economics & Accountancy" by sanjivan saini provides an overview of key economic and accounting principles relevant to engineering and technical fields. The book covers various topics that are essential for engineers and professionals to understand the financial aspects of their work. The book is likely to be a comprehensive resource for students and practitioners looking to integrate economic and accounting concepts into their engineering projects and decisions.
Book overview:
1. Managerial economics: this section of the book likely covers fundamental economic principles applied to business and engineering decision-making. Topics may include demand and supply analysis, cost analysis, pricing strategies, and optimization techniques.
2. Demand & supply analysis: in this section, readers would learn about the factors affecting demand and supply in the market, elasticity of demand, factors influencing consumer behavior, and the relationship between price and quantity demanded.
3. Production and cost analysis: this unit is likely to delve into production processes, production functions, factors of production, cost structures, economies of scale, and the concept of returns to scale. It may also cover how production and costs impact decision-making in engineering and business contexts.
4. Pricing: the pricing unit likely covers different pricing strategies, cost-plus pricing, value-based pricing, pricing in competitive markets, and how pricing decisions impact profitability.
5. Financial accounting (elementary treatment): this section would introduce the basics of financial accounting, including the principles of accounting, financial statements (such as the balance sheet and income statement), recording transactions, and understanding the financial health of an organization.
Overall, "engineering economics & accountancy" by sanjivan saini seems to provide a comprehensive overview of economic and accounting concepts tailored to the needs of engineers and professionals in technical fields. It likely offers a practical approach to integrating these concepts into engineering decision-making, project evaluation, and financial analysis
