Abstract
Both engineers and accountants working in industry are experts in measurement. The engineer expresses his quantitative data in physical units; the accountant evaluates quantitative measurements into financial terms. Planning the future and controlling the present are two principal functions of management. Accounting provides the common language of communication between the different levels of management planning and controlling all activities of the business.
Cash flow, accounting for inflation, investment timing are important areas for the exercise of accountants' specialized training and outlook.
The lecturer then outlines an actual comprehensive accounting information system operating in a large and successful engineering company. This illustrates his conclusion that while the engineer is the customer of the accountant providing information, they are partners in optimizing its use in running a business.
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