Date: 11th April 2017
The objectives of the one-day course are to:
Provide an rigorous overview of basic Accounting principles to all participants (i.e. How do Accountants think)
Explain how daily actions impact reported Financial Performance
Following completion of the one-day Programme, participants will be able to
Understand the role of Finance in their daily operations
Understand how they can contribute to improving company financial performance
Interpret Accounting information in their day-to-day roles.
Engage in tangible discussions with financial colleagues to drive plant performance initiatives.
Understand and contribute to their in-company budgeting process
The course will be delivered in a discursive and interactive manner with a strong emphasis on participation. The objective is to make participants comfortable with the language of finance and confident to engage discussion with their financial colleagues.
The role of Finance
What is the purpose of Finance
Compliance and Shareholder issues.
Financial Accounting Principles
Fundamental Principles: Matching, Accruals
Profit and Loss Overview- Exercise
Balance Sheet Overview-Exercise
How daily tasks impact Financial Reporting
Identifying obsolete inventory.
Transaction accuracy and timeliness
Formalising the Purchase Order process
Overview of Management Accounting
Fixed Costs, Variable Costs, Contribution-Exercise
Standard Costing Overview
How Standard Costs (Mat, Lab & O/H) are set
Overhead Absorption Principles
Principles of Variance Analysis
Variance Analysis Example
Total Materials Variance
Price Variance (PPV)-Exercise
Usage Variance (Yield and MUV)- Exercise
Total Direct Wages Variance
Rate Variance -Exercise
Efficiency Variance – Exercise
Testimonial from ICBE member company “I have looked around and I can honestly say Mick O Callaghan is the best. Don’t look anywhere else because you won’t find better. (He doesn’t use power point! which is refreshing)”
We are pleased to be able to offer a limited number of free places for jobseekers on our network programmes subject to funding being available. Please click on the following link to check if you meet Jobseekers eligibility criteria
The Aviation & Aerospace Skillnet is funded by member companies and the Training Networks Programme, an initiative of Skillnets funded from the National Training Fund through the Department of Education and Skills.
For more information on Skillnets, please visit www.skillnets.ie