Business Excellence Skillnet

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Date: Oct 17, Nov 14, Dec 5 2015


Cost: €400 member; €450 Non Member

Management in Ireland are involved in regular discussion on various Finance topics. These topics include decisions around cost cutting using Lean and Six Sigma initiatives, as well as decisions regarding asset purchase and disposal.  It is important that management have a robust understanding of the financial implications of their decisions.
  • Module 1 Financial Accounting Principles
  • Module 2: Profit and Loss
  • Module 3: Balance Sheet
  • Module 4 Budgeting Concepts
  • Module 5 Investment Appraisal
Course Objectives
1. Provide an rigorous understanding of Financial Statements to all participants
2. Explain how daily decisions impact reported Financial Performance
3. Change the mindset of participants to include consideration of the business impact of their decisions
Following completion of the Programme, participants will be able to:
1. Understand the role of Finance in their daily operations
2. Understand how they contribute to improving company financial performance
3. Interpret Accounting information in their day-to-day roles
4. Engage in tangible discussions with financial colleagues to drive organisational performance initiatives.
5. Make robust assessments of company financial status
Proposed Training Programme Content
Module 1
Financial Accounting Principles
Duration 2 hours
Introduction to “how Financial people think”
Practical worked examples of the application of: Matching, Accruals, Depreciation,
Module 2:
Profit and Loss
Duration 2 hours
Revenue recognition criteria
Calculating and Assessing Margin (Standard Margin, Gross Profit)
Discussion Items
• How Business People think
• Review and comparison, with group discussion, of Case Study P+Ls
• Impact of discounts on reported margin.
• Price v Volume considerations
• Impact of sales volume on both Manufacturing Variances and Gross Profit
• Relationships between inventory and cash-flow and reported profit
• Capex v Opex
Delivering Sustainable Business Performance
Module 3:
Balance Sheet
Duration 3 hours
Balance Sheet Structure:
Review of Case Study Balance Sheets: Important Ratios
Working Capital
Debtor Days (DSO), Creditor Days, Inventory turns.
Discussion Items
• How to assess working capital position from a company’s P+L and Balance Sheet.
• Implications of Cash Conversion cycle on daily decisions.
• Relationship between liquidity, profitability and growth.
Module 4
Budgeting Concepts
Duration 3 hours
The Budgeting Cycle
The importance of Budgeting
Budgeting Terminology (Forecast ,Outlook, Pipeline)
Standard Costing
Calculating Standard Costs
Absorbing Overheads
Impact of Volume on Overhead Absorbtion
Role of Variances
Delivering Sustainable Business Performance
Module 5 Investment Appraisal
Duration 5 hours
Introduction to Investment Appraisal
Relevant Costs for Decision Making
• Make or Buy
• Keep or replace
• Scarce Resources
• Special Order
Projecting Project Cashflows
• Cost Saving v Cost Avoidance
• Tax Considerations
• Depreciation considerations
Long Term Investment Appraisal
• Payback
• Net Present Value
• Internal Rate of Return
• Return on Capital Employed
Managing Investment Risk
• Sensitivity Analysis
• Breakeven Point
Trainer Profile: Mick O’Callaghan
Qualifications: B.E. (Electrical Engineering), M.Tech (Advanced Manufacturing Technology), M.A. (eLearning Design and Development)
Dip IFR (ACCA) C.Eng.M.I.E.I, (Chartered Member of the Institute of Engineers of Ireland F.C.M.A. (Fellowship of the Chartered Institute of Management Accounting) Experience Overview
Mick is a fully qualified Electrical Engineer (B.E., M.Tech, C.Eng, M.I.E.I) and Management Accountant (F.C.M.A).
He has over 25 years “hands-on” experience in a wide range of service and production roles. Prior to setting up his own company in 1997, Mick held a range of Engineering and Business Management roles with companies such as Shell, Saudi Oil, Irish Steel and Input-Output (NYSE I-O).
Since 1997, Mick has been Principal at Value Added Consulting, a specialist Training and Consulting organization focused on the delivery of Business Performance Excellence Training to multinational and SME clients in Ireland and across Europe.
As well as having primary responsibility for client relations, Mick delivers Training programmes in topics such as Finance for Non-Finance Managers, Business Strategy Problem Solving and Project Management, See Mick O Callaghan’s profile at