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Public Training

Performance Measurement &

Budgeting For Management

(Finance For Non-Finance Professionals)

(Course Code: BM180821)

Date: 2018.08.21 (Tue)

Time: 9:30am - 5:30pm

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

Language: Cantonese with English Teaching Material

Fee: HK2300/*HKD2100

*Discount for payment settled on or before 31 July 2018, or 3 delegates enroll together.

Course Introduction and Training 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, sales professional, department heads, managers and directors

Training Methodologies

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

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 Performance measurement Important?

    • Overview of Performance measurement/ cash-flow Forecasting: purposes and process of performance measurement, common types of coordination among different departments

  • Recent Trends for Budgeting: Target costing(TC) and Life cycle costing(LCC) for Budgeting & its impact

    • Case: Life cycle costing and Target costing for Budgeting: Usefulness across different industries

    • 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

  • Performance measurement: What are financial indicators & Non-financial PMI?

    • Understand Financial Analysis in term of Profitability, Liquidity, Gearing, Efficiency and Shareholders’ Investment

    • Understand Non-Financial PMI, Changes in cost structures, changes in competitive environment and changing in product life cycle & its advantages and disadvantages when using in the reality

  • Are the Cash-Flow projection, Performance measurement Reasonable and Realistic? What are the essential elements in Manufacturing/Trading companies, Service industries and Non-profit making organization?

    • Case: Review of a cash-flow forecast: financial KPI targets, key assumptions, Performance measurement and Budgeting variances.  Understand the differences of Measurements tools, criteria, Financial indicators and non-financial indicators between Manufacturing/Trading industry, Service Industry and NGO

  • Performance measurement: How to use Balanced Scorecard (BS) & Benchmarking and its application in your company?

    • What are Benchmarking and its procedures with case studies

    • BS–Financial Perspective, Customer Perspective, Internal Business Perspective and Innovation and Learning Perspective

  • Effective divisional Performance Measures & Its usefulness in your division and company

    • Business cases of Responsibility centre and Cost centre, Profit centre and Investment centre with case studies

  • The relationship & its end product between Performance measurement, Budget costing and cash –flow projection : Control

    • Department needs & Company needs Case studies: Advantages and disadvantages

Certificate

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

Trainer: Mr Ken WONG

FCCA, BA Business Studies, Master of Applied Finance

  • Accountant of ACCA

  • Training Consultant with over 20 years’ experience

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

  • Worked in Financial management & Corporate Finance of MNC, local firms and one of Big Four over 15 years.

  • Provided training to Degree courses & Master Degree courses in UK Universities, HKICPA & ACCA courses

  • Had been the speakers for HKICPA Corporate Finance

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

                                                                                                     

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