35 7 Introduction to Business Finance concepts and digital tools Introduce to your trainees the basics of Economics and Finance. An Online page for the European Commission Financial capacity selfcheck Assessment tool is included in the presentation: https://ec.europa.eu/research/participants/lfv/lfvSimulation.do Here the trainer can comment on the resulting rations (solvency, profitability, G.O. Profit) or simply show the page for the trainees to be aware of the importance of economics and finance when asking for EU funds. 25’ PPT FILE: TM3A _ Identify opportunities for significant cost reductions (continue to Unit 2 – Chapter 2.2) EXCEL FILE: TM3A _Worksheet 1 as an example of GHG reduction: What if every American household swapped out 3 incandescent light bulbs for LED light bulbs? - Here the trainer can play with the number of lights, power of each bulb, … and talk about the results. 8 Activity: Practical case cost/benefit calculation Introduce to your trainees the data and details of a real case of a series of calculations of different financial values. Let the trainees work individually on the case asking them to prepare the cell formulas for calculating the financial values. In case of doubt, the excel file used shows one possible solution with the formulas, description, and explanation. [Teacher or Peer assessment activity] Important observation for ALL activities using spreadsheets: If the students/trainees have access to a computer, ensure a spreadsheet software is installed (excel, opencalc, …). In the case there is no access to a computer, but there is access to mobile phone or tablet, then upload the Worksheet files in excel spreadsheet format to online spreadsheet format before the training, allowing the use of online/web tools like Google-Sheets or similar. 20’ PPT FILE: TM3A _ Identify opportunities for significant cost reductions (continue to Unit 2 – Chapter 2.3) EXCEL FILE: TM3A _Worksheet 2
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