What do engineers and project managers need to know about finance? Engineers and others in technical functions must be conversant with the terminology and statements that accountants use. Technical expertise in projects, service delivery, production or other areas can only really be harnessed if the managers understand the accounting and reporting that drives businesses.

This ‘Finance for project managers and engineers’ course gives the necessary understanding to project, production and technical managers. It develops their skills in understanding financial and management accounting. This practical course will enable participants to demystify financial terminology and consider how financial information can assist strategic decision making as well as project decisions.

The course will consider:

  • Understanding the main financial statements.
  • Demystifying financial terminology.
  • Business financial measures.
  • Project financial measures
  • Introduction
    • Financial Management.
    • Project Policy and Procedures
  • Project Financial Management Procedures
    • Assessment of the Project Financial Management System.
    • Project Management Report (PMR).
    • Project Documentation
    • Project Implementation
    • Annual Financial Statements and Compliance with Audit Covenants.
    • Conversion of Existing Projects to PMR-based Disbursement
  • Design and Assessment of Project Financial Management Systems
    • Understanding the Project and its Context.
    • Records and Knowledge Management
    • Internal Controls
    • Project Planning
    • Accounting System
    • Accounting Software
  • Periodic Reporting using the Project Management Report (PMR)
    • Standard Features of the PMR
    • PMR Financial Report
    • PMR Project Progress Report
    • PMR Procurement Management Report
    • Simplified PMR for small projects
    • Transitional Reporting
  • Annual Financial Statements
    • Financial Statements
    • Auditing (Internal and External or Statutory)