Finance , Costing & Budgeting Analysis For Managers

2 days workshop

INTRODUCTION

This program is designed for current challenging environments whereby managing cost and finance is crucial for company sustainability, growth, profitability & liquidity. Skill set on  managing cash flow & costing & resources constraint, capitalising on the strength of dollars and low oil price will be optimised via the KPI focus approached. Real-current problematic costing & financial cases will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.

Course Objectives                                                                                                                                   
By the end of this course you will be able to:

  1. Product costing systems and accounting for overhead

  2. Plan how to achieve optimum profitability under budget constraints

  3. Learnt Strategic Cost Management and Decision Making in coping with rising costs

  4. Built in KPI values for all key strategic organization divisions 

  5. Standard costing and variance analysis

  6. Understanding of the cost accounting methods that can help in identifying the profitable products 

  7. How to read a balance sheet, Profit & Loss Statement  & Cash flow

  8. Use Cash Flow statement  to evaluate performance 

  9. Understand the relationship between cash flow statement and balance sheet

  10. How to look for information efficiently in the annual report 

  11. Learn how to size up a company quickly by reading their financial ratios

METHODOLOGY

Case Study, video & Group Discussion. 

Who Should Attend

All managers, Accountants, accounting managers, cost accountants, cost analysts, budget analysts, systems analysts, auditors and financial planners & All those who are serious in understanding financial & costing impact on their organization.

Special Feature: NOTE: Please bring laptop along

PROGRAMME OUTLINE

Day 1: Financial

Module 1: Financial Ratios Analysis (Case Study)

  • Learn how to size up a company quickly by reading their financial ratios 

  • Liquidity 

  • Solvency 

  • Efficiency 

  • Profitability 

  • Asset Management 

  • Assessing drivers of company profitability and growth:- 

  • Operations and investment strategies : operating and investment management

Module 2: Predicting Business Failure (Using Altman Z Score)

  • Measuring the 'Fiscal-Fitness' of a company

  • Combination of five weighted business ratios

  • The Interpretation of Z Score

Module 3: Cash Flow Statement 

  • Lifeblood of business – Cash Flow Statement 

  • Relationship between cash flow statement and balance sheet 

  • 3 streams of cash flow, Operating ,Investing &Financing 

  • How to determine financial health from cash flow pattern 

  • Determining if the company is using internal cash flow to finance growth or relying on external financing 

Module 4: Investment Appraisal and Capital Budgeting (Case Study)

  • Calculate return on investment (ROI),

  • Calculate  net present value (NPV), internal rate of return (IRR), and payback period

  • Recommendation to proceed or reject based on financial & non-financial considerations


Day 2: Costing & Budgeting

Module 5: Budgeting 

  • Planning Process

  • Preparation Of Budgeting ( Operational & financial Budget)

  • Budgeting and Human Behavior 

Module 6: Cost Management (Case study)

  • Outsourcing or Make-or-Buy Decision

  • Decision to Add or Drop a Product, Service, or Business Unit

  • Relevant Costs of Replacing Equipment

  • Pricing Decisions 

Module 7: Cost-Volume-Profit Analysis

  • Understand the concept of break-even-analysis in units and in dollars and the appropriate use of each

  • Understand the implications of operating leverage

  • Understand margin of safety and its impact on decisions to add fixed costs or to change cost structures

  • Understand the use of contribution margin in “what-if” analysis

Module 8: Variance Analysis (Case Study)

  • Variance analysis between standard costs and Actual costs in context of material, labor, overheads, efficiency, volume, wastages variances

  • Budgeting process: Detailed steps in preparing Budgets (sales, production, materials, human resource, rejects/scrap, indirect costs)

  • Variance analysis between Budgeted costs and Actual costs: identifying and rectifying variances; why and what went wrong.

  • Appreciating concept of ‘standard costing’ in cost control

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Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA. 

Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years period

He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle,  IQPC Worldwide Pte Ltd , Singapore,  Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei,   Risda Group Of Companies,  Sales & Marketing Training  Forum, Sri Lanka, Giant Retail Sdn Bhd,  Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd,  Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd , Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK ; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd

He is currently providing management consultancy and training specializing in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.

Testimonials From Past Participants

Two key points  I learnt from Dr Liew are “Impact on P&L, BS, Cash Flow & Equity from your transactions ( sales, expenses, assets) & Impact of operating , investing & financing activities on cash flow position “Project/business analyst

“Overall good. I now know how to calculate NPV, IRR & Payback period. This helps me to plan well for investment project” AVP- Investment & Business

“Thanks, Dr Steven; very nice, interesting even it is an accounting programme” Understand more about accounting view, now know more about finance & budget. Will make it into practice to manage my own financial as well Admin & HR executive

Practical Cost Reduction, Control & Budgeting Strategies

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