Aviation and Aerospace Skillnet

Finance for Non-Financial Managers


Location: Shannon
Cost: €225
Date: 9th November  2017

Course Objectives
The objectives of the one-day course are to:

  • Provide a rigorous overview of basic Accounting principles to all participants (i.e. How do Accountants think)
  • Explain how daily actions impact reported Financial Performance

Course Deliverables

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

Delivery Style 
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.

Course Content
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

Inventory Valuation

Identifying obsolete inventory.

Transaction accuracy and timeliness

Formalising the Purchase Order process

Standard Costing

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

Traditional Methods-Exercise

Variance Analysis

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

Skillnets funded from the National Training Fund through the Department of Education and Skills

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



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