Management Accounting Fundamentals

Course Objectives

  • The objectives of the course are to
  • Explain the basic principles of Budgeting
  • Provide participants with an understanding of the aspects of Financial Decision making
  • Following completion of the two-day Programme, participants will be able to 
  • Communicate the Budget to colleagues and explain the importance of Budget targets
  • Provide effective  input to Financial Decision Making within their organisations
  • Engage in discussions with financial colleagues to drive performance initiatives.
  • Understand and contribute to their in-company budgeting process
    Target Audience

    This course is suitable for anyone that wants to understand the language of Finance and wants to contribute to financial decision making within their organisation.

    Course Content
    Introduction to Management Accounting

  • Cost Volume Profit Analysis
  • Overhead Allocation Methods
    Costing of Overheads

  • Standard Costing

  • Activity Based Costing
    The Budgeting Process

  • The Budgeting Cycle
  • Overhead Allocation Exercise
  • Overhead Recovery Exercise
  • Direct Product Profitability Exercise
  • Customer Account Profitability Exercise
    Investment Appraisal Methods

  • Payback
  • Net Present Value (NPV)
  • Internal Rate of return (IRR)
    Performance 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 Variancercise
  • Efficiency Varianercise

    Financial Decision Making

    Background and Context

    Avery Dennison is currently preparing to invest in a number of significant Global projects. Finance personnel at Avery Dennison Cork are currently preparing Capital Budget Approval plans to support the investment in these projects. Value Added Consulting has been asked to provide a Training programme which would provide a comprehensive understanding of the major principles of Investment Appraisal and would ensure a consistent approach to project evaluation.

    Course Objectives

    The objectives of the one-day course are to help participants understand

    1. How to apply a range of Investment Appraisal techniques
    2. How to assess relevant and non-relevant costs in Financial decision making
    3. How to quantify the sensitivity of a Financial decision
    4. How to select projects that optimize Return on Investment

    Training Programme Content

  • Introduction to Investment Appraisal                                           Exercise
    Relevant Costs for Decision Making

  • Sunk Costs
  • Opportunity Costs
  • Incremental Costs                                                                        Exercise
    Financial Decision Making

  • Make or Buy                                                                               Exercise
  • Keep or replace                                                                           Exercise
  • Scarce Resources                                                                          Exercise
  • Special Order Exercise
    Projecting Project Cashflows

  • Cost Saving v Cost Avoidance
  • Tax Considerations
  • Depreciation considerations                                                           Exercise
    Long Term Investment Appraisal

  • Payback                                                                                   Exercise
  • Net Present Value                                                                        Exercise
  • Internal Rate of Return                                                                   Exercise
  • Return on Capital Employed                                                        Exercise
    Managing Investment Risk

  • Sensitivity Analysis                                                                      Exercise
  • Breakeven Point                                                                           Exercise
  • Finance for Non-Financial Managers

    Course Objectives

    The objectives of the one-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

    Course Deliverables

    Following completion of the one-day Programme, participants will be able to

    1. Understand the role of Finance in their daily operations
    2. Understand how they can 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

    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

    Technical Writing in Regulated Industries

    Who Should Attend

    This is a one-day course for people who must write within regulated environments. This course is helpful for those who must work with documentation and understand the broad range of reporting that the industry requires.

    Learning Objectives

    On completion of this course, participants will:

  • Know how to produce effective written correspondence
  • Understand how to assess and write to the audience
  • Know how to review and revise documents

    Session 1: Communication Essentials

    This session provides participants with an understanding of the challenges of communicating effectively to a non specialist audience.

  • Hearing, Understanding, Agreeing, Acting                            EXERCISE

    Session 2 Guidelines for writing Process Documents

    This session introduces participants to the fundamental principles of good technical writing

  • Simple Language
  • Limit the Number of Ideas
  • Using Conditionals (Should / Could / Would)
  • Irrelevant Restrictions
  • Information in Order
  • Precision
  • Consistency                                                                     EXERCISE
  • Effective Presentation of Numerical Data
    Session 3 Organizing and Delivering Financial Information

    This session informs participants how to structure their ideas into distinct points and how to effectively communicate points and supporting information

  • Dealing with terms and acronyms
  • Using The Direct Approach                                                    EXERCISE
  • Using The Controlling Idea                                                    EXERCISE
  • Constructing effective paragraphs
  • Elevator Pitch
    Session 4: Writing Style

  • Weak Verbs
  • Ponderous Nouns
  • Parallelism
  • Intensive Adverbs
  • Misplaced Modifiers
  • Logical references
    Session 5:  Document Review

    In this session course participants will review the updated proposals prepared in Session 6 for compliance with the best practice Technical Writing principles introduced earlier on the course.

  • Document review                                                                    EXERCISE
    Review and Close

    Participants will be required to prepare a personal action plan indicating how they plan to introduce the principles and techniques learned on the course to their day-to-day roles.


    Mentoring/ Coaching Skills

    This programme is designed to give individuals the knowledge to understand the difference between mentoring & coaching. It is also aimed at clarifying the benefits of each to the benefit of the individual.


    By the end of the programme, participants will be able to:

  • Explain what is mentoring & coaching
  • Explain the differences between mentoring & coaching
  • Understand the Do’s & Dont’s of Mentoring
  • Understand the role of a mentor versus mentee
  • Understand the mentoring/ coaching process
  • Benefits gained from mentoring & coaching
  • Practice in a safe environment
    Programme Outline/ Day

  • What is Mentoring?
  • What Mentoring is not?
  • Outline the mentoring process/ partnership
  • What is the role & skills of the Mentor and the Mentee?
  • Review the mentoring framework – increasing your market place (as a result of mentoring)
  • Mentoring Etiquette – Do’s and Don’ts
  • How do I ‘work’ the relationship
  • Role Play Exercises
  • What is Coaching?
  • What is the difference between coaching & mentoring
  • Benefits of coaching
  • The framework/ process of coaching
  • Role play exercises
    Targeted Audience

    Individuals who want to understand more of the benefits of mentoring/ coaching & how the process works.
    Duration – 1 day

    Performance Appraisal


    This programme is designed to give individuals the skills and abilities to prepare and carry out an effective performance appraisal with your staff.


    By the end of the programme, participants will be able to:

  • Give effective feedback
  • Handling difficult messages
  • Setting realistic goals and expectations
  • Supporting other people’s career development
  • Using acknowledgment and praise
  • Seeing other people’s views
  • Dealing with your and other’s feelings
  • Building morale and setting boundaries
    Programme Outline/ Day
    Step 1: What is Performance Management

  • The benefits of performance management
  • Setting attainable goals and expectations
  • Effects to individual and team of not carrying out appraisals
  • What an effective performance appraisal looks like Exercise
    Step 2: Preparing for an appraisal

  • Reviewing an individual performance goals Exercise
  • Soliciting feedback from various sources
  • Choosing a template to collate and give effective feedback Exercise
  • Setting time aside for preparation and for the appraisal
    Step 3: Carrying out an effective appraisal

  • Choosing the right location and time
  • Giving effective feedback Exercise
  • Dealing with conflict situations
  • Dealing with difficult issues Exercise
  • Dealing with the individuals feelings
  • Setting boundaries
  • Using praise and acknowledgement
    Step 4: Follow up and future appraisals 

  • Setting you and the individual up for success Exercise
  • Creating future goals and regular follow up expectations
  • Building for the future Exercise
    Review and Close

    Targeted Audience

    Individuals who want to prepare and carry out effective performance appraisals with their staff.

    Duration – 1 day