Business and commercial

Financial management (v)

Balance short-term profitability with long-term value creation to manage projects more effectively.

12 hours

Next available:

CMI CMI


Course Location & Date
Financial management (v)
10% early bird discount applied
Hurry! 169 days left
Members:
£995.00 £895.50 Plus vat
Non Members:
£1,215.00 £1,093.50 Plus vat

Summary

Balance short-term profitability with long-term value creation to manage projects more effectively.

Engineers are often required to be conversant with the terminology and statements that accountants use. Technical expertise in projects, service delivery, production or other areas can only be fully realised if engineers understand the accounting and reporting processes that drive businesses.

‘Financial Management’ enables participants to upskill in financial, management and project accounting. Develop what-if models and gain a deeper appreciation of the impact of decisions on financial measures.

Upon completion, you’ll be able to assess the financial health of an organisation and interpret financial information in order to inform your own decision-making.

You can upgrade this course to a CMI Level 5 qualification. To find out how, visit imeche.org/CMItraining/Level5.

Delivery Format

This course will be delivered using interactive virtual classroom technology. It comprises two 6-hour virtual classrooms (VC).

Who should attend?

Engineers and non-engineers at all levels responsible for projects, service delivery or production, financial management will help you determine the correct balance between risk and profit maximization

How will I benefit?

After the course you will be able to:  

• Understand the main financial statements; profit and loss, balance sheet and cash flow

• Recognise the critical importance of cash flow and working capital

• Manage resources more effectively

• Develop and manage budgets

• Know how to evaluate opportunities and when necessary cut the right costs

• Determine and better manage Key Financial Indicators (KFIs)

• Undertake what-if analysis to better understand risk

• recognise the financial impact of 'soft' performance drivers - relationships, culture, skills, brand and knowledge

• Build robust business cases and justify investment decisions – for equipment, marketing, new staff, training

• Balance short-term profitability with long-term value creation

Contributes 12 CPD hours

Key topics

• Understanding financial statements - profit and loss & balance sheet

• The importance of cash flow

• Managing working capital - debt, credit and inventory

• Developing a "what-if" sensitivity models.

• Allocating cost

• Approaches to budgeting

• Analysing financial performance - profitability, liquidity, financial status

• The role of the Balanced Scorecard in achieving financial targets

• Project finance and capital budgeting

• Value Management and economic profit

Mapped against UK- SPEC competencies: E and C

  1. Professional commitment - For Incorporated and Chartered Engineers: ‘Demonstrate a personal commitment to professional standards, recognising obligations to society, the profession and the environment’
  2. Responsibility, management or leadership - For Incorporated and Chartered Engineers: 'Provide Technical and commercial leadership’

In-house and bespoke training

Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

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At a glance

  • Duration:
    12 hours
  • Location:
    Online
  • CPD Hours:
    12
  • UK-Spec:
    E, C

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Available dates for Financial management (v)

12 hour course

Online
07 Jun 2022 09:00 - 21:00 This course has 2 virtual sessions of 6 hours each: 7 & 8 June 2022 at 09:30 - 17:00 BST (includes breaks)
10% discount available until 7 April

Require a different date or location? Or want to train a group in house?

We can customise any of our courses and deliver them in-house, for your entire team. It could also save you money, especially as you would save travel time.

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Members: £995 + VAT

Non-members: £1,215 +VAT

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