Finance, Accounting & Engineering Economics for Energy Engineers and Managers
After participating in this course, you will be able to:
- Apply accounting, finance, and basic economic principles to real-world scenarios.
- Analyze financial statements, including income statements, balance sheets, and cash flow.
- Evaluate financial metrics and ratios for informed decision-making, including ROI, NPV, and Time Value of Money.
- Assess asset depreciation methods and inventory management concepts for financial optimization.
- Make strategic decisions regarding Lease vs. Buy, Repair vs. Replace, and cost management.
Description
In today's fast-paced business environment, understanding the interplay between finance, accounting, and engineering economics is essential for professionals responsible for managing energy and non-energy projects. This course offers an in-depth exploration of financial concepts tailored to engineers, energy professionals, and facility managers, ensuring you can make informed decisions that drive success.
You'll dive into the fundamentals of bookkeeping, focusing on key financial documents like the Income Statement and Balance Sheet. Additionally, the course will equip you with the knowledge to utilize widely accepted capital investment performance metrics, such as payback period and net present value (NPV), which are critical for evaluating the financial viability of projects. Gain insight into asset depreciation methods and their impact on net profit and taxes, and discover how inventory systems influence economic outcomes.
This highly interactive course encourages participants to share their experiences, challenges, and successes, fostering a collaborative learning environment. By the end of the course, you'll have the tools and confidence to navigate complex financial landscapes and contribute to your organization's economic health.
Who Should Attend
This course is ideal for professionals in the energy sector, including engineers, energy managers, and technicians, who are tasked with overseeing energy projects and operations.
Additionally, maintenance engineers, facilities managers, and project managers who may have a weak background in financial management will benefit from the comprehensive coverage of accounting and finance principles. This course is also recommended for executives and leaders who must engage in meaningful financial discussions and make informed decisions impacting their organizations.
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SCHEDULED OFFERINGS
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COURSE CREDIT
Almost all of EPIC's courses offer :
- Continuing Education Units (CEUs) and
- Professional Development Hours (PDHs)
These course credits will help attendees earn training requirements for their associations or provincial governing bodies.
ON-SITE TRAINING
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