Finance and Accounting for Engineers and Technicians

On-Site Training | Program Summary | List of Seminar Topics – North America | Finance and Accounting for Engineers and Technicians

Course Number: SEM-008

Length of Course: 8 hours

Seminar Location: This seminar is available for on-site training


In Finance and Accounting for Engineers and Technicians, you’ll learn …

  • Accounting and finance concepts: definitions, discussion and examples of some of the more common calculations
  • How to develop more accurate and effective departmental and project budgets
  • The value of life cycle cost analysis
  • How to review and understand financial reports and analyses
  • The skills necessary for the development of effective financial justification on project funding requests

Overview

This seminar provides an overview of important principles in the fields of finance and accounting for facility engineers, facility managers, practicing engineers of all disciplines, executives with little or no finance and accounting background, project managers, and construction. The seminar is designed to help professionals develop decision making skills based on financial calculations and quantitative analysis.

Understanding of finance and accounting principles is important in interfacing with accountants, financial analysts and members of upper management. This seminar provides valuable skills and knowledge for professionals who are inadequately equipped in important finance and accounting principles and concepts. Most finance and accounting principles are introduced at a basic level; therefore, little or no prior financial knowledge is required.

The seminar is based on the principles in the book Finance and Accounting for Energy Engineers, S. Bobby Rauf, Fairmont Press, 2010.

Specific Knowledge or Skill Obtained

This course teaches the following specific knowledge and skills:

  • Accounting and finance terms encountered in the practice of engineering, manufacturing and management, in general
  • Develop greater confidence in interactions with accountants and financial analysts
  • Better understanding of inventory management and associated best practices
  • Income statements and balance sheets
  • Concepts of cash flow and working capital
  • Financial Reporting Requirements for corporations
  • Time value of money conversions
  • Finance and Accounting Ratios and other Metrics. IRR, ROI, NPV, ROE, ROR, Current Ratio, Acid Test Ratio, Plant Turnover Ratio, Payback Period, FV, and PV
  • Depreciation Alternatives: S/L, Prod. Based, SOY Digits
  • Inventory Concepts: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., Inv. Carrying Costs
  • Lease vs. Buy Decisions
  • Repair vs. Replace Decisions
  • Costs: Life Cycle Cost. Period Costs, Direct and Indirect Costs

Speak to a Representative to Schedule a Seminar

For more information contact:

NORTH AMERICA
Ken Hudspeth, General Manager
Phone 1-877-PDHengineer (1-877-734-3644)
Email: ken.hudspeth@PDHengineer.com

INTERNATIONAL
Bobby Rauf, International Sales Manager
Phone: +1 281-990-3041
Email: rauf@PDHengineer.com