2 days’ workshop
Introduction:
Is your organization budget still valid & reliable? This practical budgeting course will assist you to revisit the way budgeting is being done and ways to improve and create values for your organization. Many budgeting case studies will be used to highlight the importance of using your financial statement to achieve your budget target. In order to reduce cost effectively, you need to have the heart of an entrepreneur. By creating value for your organization, you will be amazed at the speed of career advancement.
Course Objectives
Participants will be able to:
Revisit your organization vision & mission to be relevant in today’s competitive environment.
Devise ways to achieve your budget targets
Learnt from successful budgeting using beyond budgeting approach
Plan how to achieve optimum profitability under budget constraints
Consider the basis for deciding whether to proceed or reject the project proposal
Managing Materials, Labour & overheads Costs
Strategies on Turnaround the Company
Strategies to Improve Debt Collection & Cash Flow
Formulating the Cost Reduction Strategies for Your Organization Costs
Understanding the tracking Cost Control Using Key Performance Indicators (KPI)
METHODOLOGY
Case Study & Group Discussion. Real-current financial issues & cases will be analysed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Accountants, CFO, Business Managers, Finance Managers, Supervisors, Managers and All Professionals Who Are Interested in Managing Budgeting & Cost control
Special Feature: NOTE: Please bring laptop along
Course outline
Day 1
Module 1: Converting Business Plan & Key Performance Indicators into Budgets
CEO Vision & Mission
KPI (Dept & Individual)
Module 2: Profit Planning and Activity-Based Budgeting (Exercise)
Operational Budget
Financial Budget
Module 3: Budgets, Behaviour and beyond Budgeting (case study)
Budget Games
Beyond Budgeting
Successful budgeting
Module 4: Project Based Budgets (Case Study)
Calculation of operating cash flow
Calculation of Project payback period, profitability index, IRR & NPV of the project?
Basis for decision on proceeding or rejecting the project proposal
Day 2
Module 5: Managing Material Costs
Procurement
Inventory
Design errors
Technical errors
Reject output
Module 6: Managing Labor Costs
Inefficient Work Processes
Absenteeism
Staff quality
Manpower management
Staff turnover
Complex process
Module 7: Managing Overhead Costs
Assets Management
Customers
Financial resources
Human resources
Expenditures
Module 8: Case Study (Turn-around the Company)
Asset conversion
Collection
Cost reduction
Revenues
Purchasing policy
Module 9: Tracking Cost Control Using Key Performance Indicators (KPI)
Identify Cost control matrix
Design performance standard for cost control
Weightage
Linking cost control to Motivation