TRAINING.

Overview

After participating in the seminar, you will:

• Understand accounting, finance and engineering economics through explanation of definitions, discussions, case studies and calculations examples.
• Have a better appreciation of different types of financial reports and financial reporting requirements
• Have better understanding of financial metrics and financial ratios, including: Payback Period, FV, PV, Time Value of Money Conversions. IRR, ROI, NPV, ROE, ROR, Current Ratio, Acid Test Ratio, Plant Turnover Ratio
• Understand inventory concepts such as: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., and Inv. Carrying Costs.
• Know more about depreciation and different types of costs, including: Life Cycle Cost, Period Costs, Direct and Indirect Costs

Program Description
Learn about finance, accounting, corporate reporting requirements and engineering economics. Learn about the two fundamental book keeping or accounting methods: The Income Statement and the Balance Sheet. Learn about the widely used and accepted capital investment performance metrics, such as financial ratios, payback period, and NPV. Understand asset depreciation methods and their influence on net profit and taxes.

Get a better appreciation of the role played by inventory systems in the control of net income, net profits and tax liability. Learn about life cycle cost and other cost classifications in industrial and commercial organizations.

Course Outline

• Accounting and Finance Concepts: Definitions, Discussion and Examples of Calculations.
• Economics and engineering economics
• Common Organizational Structures - Role of Financial Analysts, Accountants, Controllers and CFO’s
• Income Statements and Balance Sheets. Cash Flow and Working Capital Concepts
• Financial Reporting Requirements
• Financial Metrics and Ratios: Payback Period, FV, PV, Time Value of Money Conversions. IRR, ROI, NPV, ROE, ROR, Current Ratio, Acid Test Ratio, Plant Turnover Ratio
• Depreciation Alternatives: S/L, Prod. Based, SOY Digits.
• Inventory Concepts: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., Inv. Carrying Costs.
• Lease vs. Buy Decisions. Repair vs. Replace Decisions
• Costs: Life Cycle Cost. Period Costs, Direct and Indirect Costs.

Who Should Attend

• Engineers
• Manufacturing Managers
• Facility Managers
• Project and Program Managers
• Maintenance Managers
• Energy Engineers and other Energy Professionals
• Engineering Managers
• Crew Managers
• Architects

 Optional Reference Material:
Finance and Accounting for Energy Engineers, By S. Bobby Rauf, Fairmont Press.

Please note: You can check other time zones here.

Syllabus

Daily Schedule:
1:00 PM - 3:00 PM, ET.

Day 1:

• Accounting and Finance Concepts: Definitions, Discussion and Examples of Calculations.
• Economics and engineering economics
• Common Organizational Structures - Role of Financial Analysts, Accountants, Controllers and CFO’s
• Income Statements and Balance Sheets. Cash Flow and Working Capital Concepts

Day 2:

• Financial Reporting Requirements
• Financial Metrics and Ratios: Payback Period, FV, PV, Time Value of Money Conversions. IRR, ROI, NPV, ROE, ROR, Current Ratio, Acid Test Ratio, Plant Turnover Ratio

Day 3:

• Depreciation Alternatives: S/L, Prod. Based, SOY Digits.
• Inventory Concepts: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., Inv. Carrying Costs.

Day 4:

• Lease vs. Buy Decisions. Repair vs. Replace Decisions
• Costs: Life Cycle Cost. Period Costs, Direct and Indirect Costs.

Instructor

Professor Bobby Rauf has developed and instructed engineering courses, seminars and workshops for over 14 years in the US and abroad.

He holds a patent on an electrical control system. Mr. Rauf has authored three books:

• Finance and Accounting for Energy Engineers
• Thermodynamics Made Simple for Energy Engineers
• Electrical Engineering for Non-Electrical Engineers

Mr. Rauf served as a Senior Staff Engineer, Energy and Ergonomics Program Manager, at PPG Industries, Inc, for over 30 years. He has served as Adjunct Professor at Gardner-Webb University since 1989. He has taught Professional Development Seminars/workshops at UNCC, McNeese University, Texas A&M University, Lamar University, AEE, Association of Energy Engineers, Balfour Beatty, Saudi Aramco and PDHengineers.

Prof. Rauf is a Licensed (PE) Professional Engineer and a Certified Energy Manager. He was inducted as a “Legend in Energy” by AEE in 2014.