Financial Awareness
Provides training and assessment for engineering and other non-financial staff in the concepts of financial accounting and management.
Learning materials and assessment questions cover basic business planning and procurement procedures, and uses worked examples to explain the subject matter. Topics covered include:
- Basic principles of financial management, including funding of companies
- Concepts of prudence, matching, consistency and going concern
- Explanation of Profit & Loss Account, Cash Flow Statement and Balance Sheet
- Using Financial Statements to assess company performance
- Calculation of earnings per share, return on capital employed and gearing ratios
- Break Even Analysis
- Effects of changes in Fixed and Variable Costs on the profitability of a company
- Distinction between capital and revenue
- Expenditure and commitment related to budgets
- Purchasing flow within the procurement process.
Average duration: 2 hours 30 minutes