Lect 15 accounting_2_

Lect 15 accounting_2_ - Chapter17 (2 AccountingEqn ,meaning...

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Chapter 17 Engineering Accounting (2)
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Accounting Eqn The Accounting Eqn is an  axiom , meaning  it cannot be derived from other equations. The Accounting Eqn is a  fundamental  equation  in all areas of engineering. Quote, p. 495.  “Although it is extremely important, it is  not universally understood.  For example, politicians will  often promise the electorate something for nothing.  If  the electorate understood this equation, they would be  able to see through the politician’s nonsense.”
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Accounting Eqn Accounting Eqn Input – Output + Generation –  Consumption = Accumulation In – Out + Gen – Con = Acc Accumulation sometimes written as  Accumulation = Final - Initial
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Accounting Eqn Extensive Property Generated  within System Extensive Property Consumed  within System Extensive Property (EP) Entering  System Extensive Property Leaving  System EP Contained In System Extensive Property Entering  System System
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This note was uploaded on 03/11/2010 for the course ENGI 150 taught by Professor Annsaterbak during the Fall '08 term at Rice.

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Lect 15 accounting_2_ - Chapter17 (2 AccountingEqn ,meaning...

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