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Financial Management
provides you the opportunity to work with and understand some of
the basic tools for maintaining and improving the budgets of manufacturing
projects. A manufacturing engineering technician who is aware of
the budget and the current status of a project is able to make well
informed adjustments to the project in order to keep it on time
and profitable.
By learning how to interpret and use both static and dynamic financial
management tools, you gain significant insight into the financial
budgeting and managing of manufacturing projects. In an increasingly
competitive marketplace, a manufacturing technician who is competent
in many facets of the manufacturing realm is much more marketable
and valuable to his or her company. This module provides essential
skills in financial management that help propel you up the ladder
of expertise within the field of manufacturing engineering technology.
After completing this module, you should be able to demonstrate
the following competencies:
- Recognize the basic elements of financial reporting
(Comp. 1).
- Interpret basic financial data and reports (Comp. 2).
- Provide input to and use the results of activity based accounting
and/or financial tracking systems (Comp. 3).
- Use financial principles to manage projects, budgets, and processes
(Comp. 4).
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