Only in a few companies do the departments that make most of the decisions about the level of product costs and value for customer actually have access to the necessary financial data as a basis for decision-making. Yet it would be an enormous advantage if designers, engineers, and technicians knew about the subsequent costs of individual decisions during product development. The better they know detailed information about the costing of parts and materials provided, the more able they are to have a beneficial impact on development and manufacturing expenses.
Equipped with clearly explained principles of finance and costing, technicians and engineers quickly learn the necessary theory for a sound understanding of costs and financial operating data so that these can be controlled on a daily basis.
- Understand the background of key financial data.
- Interact with financial business data.
- Learn about different methods for the calculation of costs and profitability.
- Introduction to the basic principles and terminology of financial data.
- Explanation of indicators used in business management (e.g. operating income and cash flow).
- Insights into the profitability calculation of investments.
- The basics of costing.
- The relationship between quantity, price, and margin.