Our Services

Public Training

Effective Budgeting And Control

(Finance For Non-Finance Professionals)

(Course Code: BM180515)

Date: 2018.05.15 (Tue)

Time: 9:30am - 5:30pm

Venue: CED School of Business (3/F., 210 Java Road, North Point, H.K.)

Language: Cantonese with English Terminology

Fee: HK2300/*HKD2100

*Discount for payment settled on or before 24 April 2018, or 3 delegates enroll together.

Course Introduction and Expected Business Outcome

Managing Finance is one of the keys to business success in a fast changing and competitive business environment.  Effective financial planning and control will help make effective business plan happen.  Human resources professionals need to develop financial literacy and communicate confidently on financial matters with different departments.  After this one-day training, they will be able to plan and control relevant costs more effectively for enhancing financial result.

Target Participants

Non-finance management, such as human resources professionals, department heads, managers and directors

Learning Objective

At the end of the workshop, non-finance professionals:

  • Will appreciate the importance of budgeting for effective business planning and control

  • Will understand basic accounting and costing concepts relevant to budgeting and control

  • Will be able to review the reasonableness of profit forecast

  • Will develop techniques in minimizing costs / expenses and maximizing profit

  • Will become more cost-conscious and risk conscious in business management

  • Will be able to communicate on financial matters confidently and effectively

  • Will appreciate their important role of non-finance professionals in managing financial performance

Course Contents

  • Why is Budgeting Important?

    • Relationship between business management and financial management

    • Overview of Budgeting / Forecasting: purposes and process of budgeting, common types of budgets, coordination among different departments

  • What is the End Products of Budgeting? - Profit Forecast 

    • Different types of financial statements: budgets / forecasts, monthly management account, annual reports

    • Understanding profit forecast: common costs / expenses, direct and indirect costs, different profit measurement - gross profit vs net profit, operating profit vs EBIT

  • What Costs Are to Be Included and Excluded in Budgeting?

    • Distinguish between fixed costs and variable costs, relevant costs, incremental costs, controllable costs

    • Relationship between costs and sales, cost structure and pattern, the risks of fixed costs in the time of changing sales

  • Are the Profit Forecast and Cost Budgets Reasonable and Realistic?

    • Key performance indicators(KPI): growth, expenses efficiency, profitability

    • Case: Review of a profit forecast: financial KPI targets, key assumptions, potential over-budgeting or under-budgeting

    • Capex budget vs opex budgets, fixed assets and depreciation 

    • Accrual and matching concept for completeness of expenses in proper period, seasonal changes, cost allocation

  • How to Analyse Periodic Income Statement for Enhancing Financial Result?

    • Variance analysis for budgetary control: actual vs budget, explaining variances, remedial actions, revised forecasts

    • Key financial ratios analysis for interpreting key changes, financial strengths and improvement areas

    • Segmental analysis: identifying business segments which contribute to higher sales, growth and profit

  • Effective Costs Control for Maximising Profit and Minimising Costs

    • Business cases of success and failure: practical tips of costs control, linking business strategy and finance strategy, continuous improvement and creativity

    • The role of non-finance managers in managing finance

Training Methodologies

Interactive training methods will be used, comprising a mixture of mini-lectures, case study, business scenarios, activities, group discussions, and experience sharing

Certificate

Participants who successfully complete this course and have 80% attendance will be issued a Certificate of Attendance

Trainer: Ms Amy Chow

FCPA, FCCA, MSc Training & HRM, BBA (Accounting), BA Applied Psychology, MBTI Step I & II and Firo-B Certification, Enneagram in Business Certifications, NLP Master Practitioner

  • Accountant of HKICPA and ACCA

  • Training Consultant with over 20 years’ experience

  • Specializes in training on Finance for Non-Finance Executives, Financial Analysis and management development integrated with Applied Psychology  

  • Worked in the auditing and training department of Price Waterhouse Hong Kong for over 10 years

  • Training Specialist for Price Waterhouse International advising on various China training consultancy projects funded by World Bank, Asian Development Bank and United Nation

  • Active in providing public and tailor-made training services to multinational companies and listed companies in Hong Kong, Greater China and Asia Pacific for over 20 years

  • Renowned for facilitating participants to learn finance topics in a practical and interactive way through ample business cases, experiences sharing and business simulation  

Enquiry
Tel: 2153 9887
Email: training@ced.edu.hk

                                                                                                     

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