Date: 9.30am – 5pm Tuesday, October 21st (date tbc)
Location: Limerick
Cost: €225 member; €299 non member (per person) Skillnet Funding Applied

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)”

Training Provider:  Value Added Consulting / Mick O’Callaghan