This document discusses accounting and engineering economy. It defines engineering economy as the systematic evaluation of the costs and benefits of technical and business projects, focusing on financial aspects and evaluating future events. Accounting is defined as identifying, measuring and communicating economic information to allow informed decisions, focusing on a firm's financial past performance. Engineering economy is aided by an understanding of accounting principles. Functions of engineering economy include developing alternatives, focusing on differences, using a consistent viewpoint, a common measurement, considering all criteria, and acknowledging uncertainty. Functions of accounting include recording all transactions, classifying, summarizing, analyzing, interpreting, and communicating information.