Business Excellence Skillnet

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




DATES: 21st & 22nd October 2015

TIME:  9am -– 4.30pm and 9am – 1pm

COST:  €€250 per member / €€325 non member

LOCATION: Crowne Plaza Blanchardstown, Dublin 15


The objectives of the one and 1/2-day course are to:

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


Following completion of the two-day 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 plant performance initiatives
  5. 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.


Day 1   9.00am to 4.30pm
The role of Finance

  • What is the purpose of Finance
  • Why “close” at quarter end
  • Compliance and Shareholder issues

Financial Accounting Principles

  • Fundamental Principles: Matching, Accruals

Profit and Loss

  • Profit and Loss Overview
  • Review of real company P+L

Balance Sheet

  • Purpose
  • Structure
  • Relationship to P+LReview of real company Balance Sheet


  • Impact on P+L and Balance Sheet
  • FIFO, LIFO, Weighted Average

Working Capital

  • Stock Days                        Real Company Exercise
  • Debtor Days                     Real Company Exercise
  • Creditor Days                  Real Company Exercise

Cash Flow

  • Operating Cashflow
  • Investing Activities
  • Sources of Finance


Day 2  9.00am to 1pm

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

Financial Decision Making

  • Sunk Costs
  • Opportunity Costs
  • Relevant and Irrelevant Costs

Project Appraisal Techniques

  • NPV
  • Payback
  • IRR                            Exercise


Trainer Profile:


Mick O’Callaghan  B.E. (Electrical Engineering), M.Tech (Advanced Manufacturing Technology), F.C.M.A, C.Eng.M.I.E.I,

Mick is a fully qualified Electrical Engineer and Management Accountant. He has over 20 years “hands-on” experience in a wide range of service and production roles. He has worked in the Middle East, Holland, U.K. and Ireland. In the early part of his career he held a range of Engineering and Business Management roles with companies such as Shell, Saudi Oil, Irish Steel and Input-Output (NYSE I-O).

He set up Value Added Consulting in 1998 to focus on Business Performance Excellence Training and consulting in the Pharmaceutical and Medical Device sectors.  Through Value Added Consulting, Mick has worked in Ireland and abroad delivering Training to companies such as Pfizer, Motorola, Abbott, Stryker, Schering Plough, Heineken and Dell.

Tailored Training Programmes which he has delivered include Project Management, Risk Assessment, Strategic Management Data Analysis and Decision Making and Financial Management.  Mick also lectures to final year Accounting students from all the main Accounting bodies. He lectures in Business Strategy, Risk Management, Financial Management and Management Accounting.