[01] INTRODUCTION

The success of a company is determined by its profitability and financial stability. This success can only be achieved if the company plans ahead. Planning is required at the strategic level for the long term and on the operational level for the immediate and short term. Part of the plan is the financial aspect of which the annual budget is a key component.

Budgeting is a financial plan that details out a company’s expectations for a period of time (normally a year) to be achieved. And not as commonly mistaken to be a plan to spend money. There are many benefits / advantages for a company to do budgeting, but the downsides must be noted and should not be a hindrance. Budgeting is a serious undertaking, understanding and commitment to the process by management and staff are crucial to the process from formulation to oversight or control. 

This seminar intends to give the participants a working understanding of financial statements, cost concepts, costing methodologies, and the budgeting process through the 4 stages in the budget cycle.

[02] LEARNING OUTCOMES

- Know and understand what defined a profitable and financial stable company and learn to analyze the 3 financial statements using financial ratios to identify the strengths and weaknesses of a company.

- Understand how cost concepts and costing methodologies influence the working of the budgeting process and learn to apply them into the budgeting process

- Identify and recognize the links between strategic planning, budget setting, and the financial success of a company

- Know and understand the budgeting process through the framework and the 4 phrases of the cycle, the widely used methods of budgeting and learn the skills to build a working budget

- Understand the concept of variance analysis in the oversight of the budget and use them to examine and address the variances between the budget and actual performance for better control and co-ordination of the business

[03] WHO SHOULD ATTEND

- Business owners and entrepreneurs

- Company directors

- Finance Managers and executives

- Accountants and Accounts Executives

- Business managers / executives from all departments

- Anyone who wishes to learn budgeting and control

[04] DATE/ TIME/ MODE

Date:    25 - 26 August 2022 (Thu - Fri)

Time:    9.00am - 5.00pm

Mode:  Online/ Interactive

Fee: 

  - Special Offer (before 20 Aug 2022)      -        RM 1,250

  - Normal Fee    -     RM 1,300

>> Fee includes Course Notes & Certificate of Completion and 6% Service Tax

Fee excludes any Microcredential charges and processing charge by HRD Corp as may be announced prior to training.

[05] COURSE CONTENT

Day 1

8.30am          Registration

9.00am          An Overview of Financial Statements

                      - Income Statement

                      - Balance Sheet

                      - Cash Flow Statement

10.30am        Morning Break

11.00am        Cost and Costing for Budgetary Purposes

                      - Cost Definitions, Concepts and Behaviors

                      - Cost Allocation, Apportionment and Absorption

                      - Marginal Costing vs Full Costing

                      - Contribution Concept and CVP Relationship

                      - Traditional Costing Methods vs. Activity Based Costing (ABC)

12.30pm        Lunch Break

1.30pm          Budgeting Framework & Process

                      - Introduction to Planning & Budgeting

                      - Budgeting System and Pre-requisites

3.00pm          Afternoon Break

3.30pm          Budgeting Framework & Process (II)

                      - Hierarchy of Budgets and Key Factors

5.00pm          End of Day 1

Day 2

9.00am          Budgeting & Planning in Action

                      - Budget Planning

                      - Structure of Principal Budgets

                      - Construction of Key Budgets

10.30am        Morning Break

11.00am        Budgeting & Planning in Action (II)

                      - Construction of Key Budgets

12.30pm        Lunch Break

1.30pm          Budgetary Control and Variance Analysis

                      - Understanding Budgeting Control and Variance Concept

                      - Variance Analysis as a Management Tool

                      - Variance Reporting

3.00pm          Afternoon Break

3.30pm          Project

                      - Budgeting exercise

                              - From Departmental Budget to Master Budget

5.00pm          End of Training

[07] TRAINER PROFILE

WINSON HAN 

CA (M) CA (ANZ) B COM 

- Chartered Accountant, Consultant, HRDF Certified Trainer

Winson is a Chartered Accountant by profession and has over 40 years of experience having served in various roles as practicing accountant, company secretary, financial controller and management consultant. He presently consults and advises companies to better manage their businesses through an integrated process covering strategic planning; tactical design, planning (financial and otherwise) and implementation; and monitoring, review and analysis. He also consults on SST/ GST for covering compliance and implementation. He is a Customs approved GST tax agent. Besides consulting, Mr. Han is also actively involved in conducting public and in-house seminars targeting the non-financial audience in financial management and analysis, financial planning & budgeting, cost management, SST/GST and credit and cash flow management. He is a PSMB (HRDF) certified trainer and holds a degree in commerce from New Zealand and is a member of the newly merged institute known as “Chartered Accountants Australia and New Zealand” and Malaysian Institute of Accountants.

[08] REGISTRATION & ENQUIRY

Email: yes@sst2u.com

Enquiry:

- Teo (011 - 3178 9203)

- Logesh (012 - 503 0346)

- Siti (012 - 383 8603)

- Han (019 - 323 0507)