Public Training

Effective Budgeting And Control

(Finance For Non-Finance Professionals)

(Course Code: BM201110)

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Date: 2020.11.10 (Tue)

Time: 9:30am - 12:30pm & 2:30pm - 5:30pm

Venue: Online training (with Zoom)

Language: Cantonese with English teaching material

Fee: HK1950/*HKD1800

*Discount for payment settled on or before 20 October2020, or 3 delegates enrol together.

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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.

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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

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Certificate

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

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Trainer: Mr. Stephen Chan

CPA (Hong Kong), CPA (Canada), FCCA (UK), ACMA (UK) , CGMA (US), AHKIHRM (Hong Kong), CPHR (Canada)

He is a Professional accountant with more than 20 years professional experience in accounting and business. He is also a chartered professional in HRM and training. He offers a variety of accounting, business process consulting (including internal control review), corporate finance (including pre-IPO services), tax advisory and corporate training services to listed & non-listed: companies. His client includes: CityU, HKUSpace, HKIHRM, AIA, Manulife, Prudential, BoC Insurance, Deloitte, HSBC, ICBC (China), China Construction Bank, Hong Kong Housing Authority, Hong Kong Treasury, Hong Kong Jockey Club, Hong Kong Science Park; Listed companies: SEHK 00143, 00299, 00305,00343, 00508, 00578, 00581, 00833, 01039, 01129, 01495, 02228, 02668, …etc.

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

                                                                                                     

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