Practical Business Finance for Engineering and Non-Financial Executives
About This Course
A basic knowledge of business and corporate finance is essential for any non-financial management and professionals to function effectively in his/her current capacity. The ability to understand financial jargons is not only useful as a life skill, but a much needed requirement for non-financial professionals occupying or about to assume a greater leadership role in the organization.
In this program, participants will learn how to determine the financial health of a business. Participants will appreciate the need for allocation of scarce financial resources and tighter financial management so as to obtain the best financial value-add for the company. Participants will learn not only the thoughts that go into building up a financial case for a new capital project, but also learn how to use the various common financial tools to justify for a new capital project.
Finally, participants will be introduced to the types of costs and their behavior, and how these could be used to determine the breakeven of a business, and forecast profitability under various simulated sales volumes.
What You'll Learn
1. Equip himself/herself (non-financial management staff / professionals) with practical business & corporate finance skills to effectively manage day-to-day and leadership work.
2. Understand the cost of doing business.
3. Learn the various drivers behind profitability and cash flows.
4. Understand how to build a financial case for a new project and how to justify for one.
5. Understand the relationship between, cost, volume and profit, and use the concept to generate different financial outcomes under various simulated conditions.
Entry Requirements
There are no formal entry requirements or prior qualifications needed.