Short Courses

The Financial Window of a Business

Learn the financial skills and language to ensure your work translates to real-world business.
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Overview
Learn the financial skills and language to ensure your work translates to real-world business.

As an engineer, you play a key role in major business projects. Your work has real-world financial implications and you will be expected to plan, problem-solve and deliver on your client’s objectives in a financially astute way. But specialist financial knowledge isn’t a core aspect of engineering training, so you may not have the right level of financial acumen in your skill set. 

This course will give you the understanding and language to bridge the gap between your engineering skills and the financial goals of a project. You will learn how to work with your clients by talking the language of money, relating to their financial priorities and discerning the financial consequences of strategic and operational decisions.

After completing this course, you will have increased confidence in:

  • discussing the content of balance sheets and income statements and how they impact your work
  • using financial terminology when communicating with executives or financial project members
  • informing team decisions with a ‘big picture’ perspective of business financial results
  • asking pertinent and insightful questions that lead to deeper financial understanding.

Financial acumen training suite

This course is part of a training suite covering the three pillars of financial acumen. The other courses are:

There is no order to complete these courses, but completion of all three will develop a comprehensive understanding of finance.

Details
Price
$449
EA members
$528.23
Non-members

EA members get 15% off on selected workshops and training. Not a member? Sign up now

Any questions?

Duration
2 x 2.5 hour sessions
Location & dates
Soft skills

12 October - 19 October

Additional Information

This workshop will run over 2 x 2.5 hour sessions on the following dates:

12 August 2022 and 19 August 2022, 9:00am - 11:30am AEST

12 October 2022 and 19 October 2022, 10:00am - 12:30pm AEDT

We can customise this course for groups of six or more.

You choose the time, place, duration and format.

Find out how we can help you and your team by clicking on the button below to request a quote or calling us directly on +61 3 9321 1700.

Duration
Customisable
Learning Outcomes

Learning Outcomes

  • Learn the right financial language and what it all means
  • Understand how the three key financial statements interact
  • Connect your engineering designs to the client’s financial priorities
  • Make sense of the information in income statements and balance sheets
  • Explain how profit differs from cashflow – and why a business can go bust while showing a profit
  • Use ‘Window Model Thinking’ to analyse the financial implications of business activities
     
Is this course for you?

Is this course for you?

Any engineer or professional without a financial background will benefit from the practical foundations delivered in this course. If you’re working in project management or within an executive team, the content will be useful to your role.

Prerequisites

There are no prerequisites for this course.

Topics we'll cover

Topics we'll cover

The Window Model

  • Identify the three underlying equations in the Window Model
  • Understand sources and uses of funding shown on a balance sheet
  • Recognise the two types of money – liabilities and assets
  • Articulate levels of profit on an income statement
  • Understand the real meaning of retained profits
  • Communicate the effect of profit generation on equity and assets
  • Equate cash flows resulting from business operations
  • Utilise the two survival criteria that apply to all businesses


Window Model Thinking

  • Become familiar with the essence of accrual accounting and why it matters
  • Learn the operating cycle and the cash conversion cycle
  • Understand the implications of cash and non-cash transactions
  • Analyse ‘micro scenarios’ (financial transactions)
  • Identify two important sources of free funding of assets
  • Know the effects of asset repairs, maintenance and write-offs
  • Acknowledge the importance and application of month-end adjustments
  • Engage in a small business case study that illustrates key principles
     
Facilitator
Geoff Rip
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