Finance and Engineering Economics for Engineers - 8 PDHs
Webinar - Part 1 & 2 / 11am to 3pm; ET / Cost: $335 Member; $385 Non-Member
March 25 - 26, 2024

NYSSPE has partnered with Sem-Train, LLC -  New York State Approved Sponsor

Part 1: March 25, 2024 - 11:00am to 3:00pm; ET
Part 2: March 26, 2024 - 11:00am to 3:00pm; ET
Cost: $335 Members / $385 Non-Members

Engineers cannot see their designs come to fruition, take shape, and be implemented without the acquisition of necessary funds. Since most engineering curricula don’t include significant financial analysis and engineering economics skill dissemination, this course fills that gap. In this course, you learn about finance, engineering economics, and corporate reporting requirements. Engineers need to be able to, objectively and quantitatively, show the advantages and disadvantages of various engineering design options to their clients and employers. After all that is the 2nd Code of Engineering Ethics requirement for all Licensed Professional Engineers. 

One way to view the value of this course is to see it as a “Crash MBA” Course for Engineers, Professionals, and Managers. This course is themed after a book published by the instructor, Prof. Rauf, titled: "Finance and Accounting for Energy Engineers," published through River Publishers. In this course, you learn to perform time value of money calculations using equations or financial factor tables explained in a simple and easy to understand way, illustrated through practical examples, just the way Prof. Rauf does in his book. 

You will learn asset depreciation methods and their influence on net profit and taxes. Learn about the widely used and accepted capital investment performance metrics, such as financial ratios, payback period, breakeven, and NPV, etc. You learn about fundamental accounting methods: The Income Statement and the Balance Sheet. You will get an appreciation of the role played by inventory systems in the control of net income, net profits and tax liability. Life cycle cost and other cost classifications in industrial and commercial organizations are covered. 

This course is designed for engineers, professional engineers, energy professionals, engineering managers, technical professionals, facilities  managers and other professionals who are not intimately familiar or current on finance, accounting, time value of money analysis, and engineering economics principles and practices. Participants are kept engaged through questions and answers, discussions and classwork. 

Course Outline

1. Finance, Engineering Economics and Accounting Concepts: Definitions, Discussion and Examples of Calculations.

a) Economics and engineering economics

b) Common Organizational Structures - Role of Financial Analysts, Accountants, Controllers and CFO’s

2. Income Statements and Balance Sheets. Cash Flow and Working Capital Concepts 

3. Financial Reporting Requirements

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

5. Depreciation Alternatives: S/L, Prod. Based, SOY Digits. 

6. Inventory Concepts: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., Inv. Carrying Costs.

7. Lease vs. Buy Decisions. Repair vs. Replace Decisions

8. Costs: Life Cycle Cost. Period Costs, Direct and Indirect Costs.

Take Away: After participating in the seminar, you will:
Be refreshed on and will understand finance, engineering economics and accounting concepts through explanation of definitions and examples of calculations.
Understand basic economics principles and engineering economics related analyses.
Know more about common organizational structures and understand the role of Financial Analysts, Accountants, Controllers and CFO’s.
Understand income statements, balance sheets, concepts of cash flow and working capital better.
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 Analysis, IRR, ROI, NPV, ROE, ROR, Current Ratio, Acid Test Ratio, Plant Turnover Ratio.
Know more about depreciation alternatives such as: S/L, Prod. Based, SOY Digits. 
Understand inventory concepts such as: FIFO, LIFO, EOQ, Inv. Turnover Ratio, WIP Inv., and Inv. Carrying Costs.
Have better understanding about Lease vs. Buy Decisions, and Repair vs. Replace Decisions.
Know more about different types of costs, including Life Cycle Cost, Period Costs, Direct and Indirect Costs. 

Speaker:  Professor Bobby Rauf, P.E, C.E.M, MBA, NSPE Member
Professor Bobby Rauf is the President, Chief Consultant and a Senior Instructor at Sem-Train, LLC. Bobby has over 25 years of experience in teaching undergraduate and post graduate Engineering, Science, Math, Business Administration and MBA courses, seminars and workshops. Prof. Rauf is registered (PE) Professional Engineer, in the States of Virginia, North Carolina, and Wyoming, a Certified Energy Manager and a Certified Ergonomist.

Prof. Rauf was inducted as "Legend in Energy" by AEE, in 2014.  He is a published author of multiple engineering and energy books, and professional Development courses.  He holds patents in process controls technology.