If you are looking to improve your understanding of the terminology and gain an appreciation for the practical application of accountancy to help you develop your financial management skills, we have the perfect course for you!


This three day course, which has been aligned with competence C of the Engineering Council’s UK-SPEC framework, will help you gain a deeper understanding of the financial aspects of decision making. It is great opportunity to practice combining your technical skills and commercial judgment.


This course covers the following topics:

Day 1 - An Engineer’s Guide to Financial Accounting 

• Reviewing profit and loss accounts, balance sheets, and cash flow statements;

• Considering sources and applications of funds in a business including assets, liabilities, expenses and revenues;

• Fixed assets and depreciation are explained together with the adjustments made to accounts in the form of accruals/reserves, prepayments and stock;

• Interpretation of financial statements is introduced through ratio analysis.

Day 2 - An Engineer’s Guide to Management Accounting 

• Essential terms and the way in which the accountant views costs are explained;

• The various methods of arriving at costings are considered and reviewed;

• Budgeting terms and the building of a budget are explained;

• Using the knowledge acquired preparation of a forecast profit and loss account, balance sheet, and cash requirement is undertaken.

Day 3 - An Engineer’s Guide to Financial Planning 

• Simplifying the complex and jargon-laden world of the financial manager;

• Examining the accountant's view of varying types of investment;

• Reviewing the risk and uncertainty attached to investment decisions;

• Considers the alternative forms and sources of finance available and reviews the associated costs and risks.

The course is aimed at engineers and technicians at all stages of their career who anticipate that an introduction to finance will benefit them with the next Finance and Accounting course scheduled for 19th – 21st of June 2018 in London.


For more information regarding this course please contact pdcourses@theiet.org, or visit our website at: https://www.theiet.org/membership/career/courses/professional/skills/finance-accounting.cfm.