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:
Product costing systems and accounting for overhead
Plan how to achieve optimum profitability under budget constraints
Learnt Strategic Cost Management and Decision Making in coping with rising costs
Built in KPI values for all key strategic organization divisions
Standard costing and variance analysis
Understanding of the cost accounting methods that can help in identifying the profitable products
How to read a balance sheet, Profit & Loss Statement & Cash flow
Use Cash Flow statement to evaluate performance
Understand the relationship between cash flow statement and balance sheet
How to look for information efficiently in the annual report
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
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