14
Concluding Comments
The intent of this book as stated in the Preface was to present a fundamental,
practical approach to financial and economic analysis used in industry. The text is
primarily directed to undergraduate chemical engineering students in a process
economics or design course. This text may also be used for a continuing
education course in process economics for experienced engineers who feel the
need to refresh their use of the principles of economic and financial analysis. The
book may also serve as a self-study text.
A chemical engineering graduate upon entering industry is confronted with
financial terminology unfamiliar to this person. Further, each company has jargon
used by the company to add to the confusion. These terms and associated
concepts are new to the engineer who has been engrossed in scientific and
technological terminology. When the young engineer comes in contact with
middle- or upper-level management, they often use financial terminology in
discussions or meetings.
The focus of this chapter is to show how the topics presented in this book,
in
Chapters 4
through
13,
ultimately appear in financial reports. The reader is lead
through information in these chapters in an orderly, logical manner.
The backbone of any economic analysis is the capital cost estimate.
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- Spring '08
- n
- Economics, Balance Sheet, Income Statement, Generally Accepted Accounting Principles, operating expenses
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