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.
12 August - 19 August
12 October - 19 October
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
Registration closes three business days before each workshop.
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.
- 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?
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.
There are no prerequisites for this course.
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
Geoff Rip is a highly experienced facilitator, having delivered more than 600 financial acumen programs over 25 years. A successful entrepreneur, Geoff is also the founder of Financials Made Easy, which specialises in developing financial acumen across all business sectors.
His qualifications include a Bachelor of Business Science (Hons) and an MBA specialising in organisation development. Geoff has won awards for his work in learning experience design and is a Life Fellow of the Institute for Learning and Performance Asia Pacific.
Breaking the norms of lecture-style learning, Geoff’s passion for financial education comes alive in the classroom as he aims to provide an outstanding learning experience that is hands-on, engaging and enjoyable. Most importantly, participants will be ready and able to apply their new skills immediately.