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 Objective:
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
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
Objective: Define Vision, Mission, KPI & its relationship to budget planning
CEO Vision & Mission
KPI (Dept & Individual)
Module 2: Linking the Budget to Management Actions
Objective: set the stage for budgeting planning considering all essential factors
What are Essential Considerations Before Preparing the Budgets
How to Present a More Accurate & Realistic Budget
How to Get Cooperation from Operating Units
How to Convince or Find Out Easier Solution for Other Staffs to Understand /Follow on Budget Being Prepared
How to Avoid Unexpected Results or Uncertainties
How to Measure Performance
Discuss the Planning Budgeting Strategies for Management
Module 3: Profit Planning and Activity-Based Budgeting (Case Study)
Objective: set sales, cost of sales, GP, operational profit & cash flow target
Operational Budget
Financial Budget
Rolling Budget
Module 4: Improve Cash Flow & Profitability Position (Practical Case Study)
Objective: Use financial tools of goal seek & solver to meet management target of sales, profit & cash flow position
Applying what if analysis (goal seek & solver)
Applying profitability strategy management framework
Formulation stage
Execution stage
Evaluation stage
Day 2
Module 5: Project Based Budgets (Case Study)
Objective: laid out the factors for consideration in project budgeting
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
Module 6: Success Story of Cost Reduction (Case Study)
Objective: will show the roadmap to achieve cost reduction target
How to target saving for your organization
Module 7: Managing Material Costs
Objective: will show the roadmap to reduce material costs
Procurement
Inventory
Design errors
Technical errors
Reject output
Module 8: Managing Labor Costs
Objective: will show the roadmap to reduce labour costs
Inefficient Work Processes
Absenteeism
Staff quality
Manpower management
Staff turnover
Complex process
Module 9: Managing Overhead Costs
Objective: will show the roadmap to reduce Overhead costs
Assets Management
Customers
Financial resources
Human resources
Expenditures
Module 10: How to Achieve the Budget Target (Case Study)
Objective: Using the Key result areas to turnaround the companies
Asset conversion
Collection
Cost reduction
Revenues
Purchasing policy
Module 11: Linking KPI To Performance Management
Objective: Tracking the KPI performance & adjust as it when required
Design Scoring Mechanism
Design Weighting & Measures
Tracking KPI Using Excel