Effective Budget & Control

Improve performance through effective management and control of your budgets

To ensure effective financial management of a department or even an entire organisation, there is a need to understand the main concepts and methodology surrounding cost management and budgeting.

An effective budget not only provides a forecast of the organization’s income and expenditure, but also acts as a measurement of the actual financial operations of the business against the forecast.

This course is designed to help participants identify various types of budgets. It will also guide participants how to plan and prepare budgets and to implement an effective budget control system.

By attending this 2-day course, you will be better able to:

  • Understand the purpose and flow of creating a budget
  • Create various types of budget and implement budgetary control
  • Gain insights of cost behaviour

Unique Features of this training course:

  • Use of real life case studies to understand, prepare an effective budget
  • Limited class size to ensure one to one interaction
Who should attend?
  • Managers who are involved in the budgeting, planning and controlling of their department’s budget
  • Those who wish to review or learn concepts used to budget and control operations
FACILITATOR

ANDREW GOH

Andrew Goh has held senior regional positions in several MNCs such as Texas Instruments & Baxter Healthcare. He has managed a local SME from its early inception to its successful IPO on the SGX and subsequently served as its Executive Director responsible for finance and operations. His experience spans across corporate startup, restructuring and fund-raising activities. He is also adept in the areas of corporate governance and compliance with listing rules.

He has conducted training for clients in both the public and private sectors. Andrew has a degree in economics and management studies, and holds membership with CIMA, ICPAS and CPA (Australia).

Course Objectives

This course will help participants to:

  • Appreciate the importance of the budgeting process and hence take ownership of it
  • Use it as a daily working tool – not an annual exercise – to help run their part of the operation
  • Improve their reporting and delivery against budget
COURSE OUTLINE
  • Purpose of a budget
  • Stages of budget development
  • The budget flow
  • Advantages and limitation of budget
  • Master budget template
  • Preparing the different types of budget
  • Sales budget
  • Cost of sales budget
  • Departmental budget
  • Cash budget
  • Purpose & function of a control system
  • Pro-active versus re-action control system
Course Schedule
Time Topics

Day One

10.00am
  • Budgets as a planning and management tool
  • The various stages of budget development
  • Various types of budget
11.30am Break
11.45am
  • Case practice to prepare: The Master Budget
  • The department/functional budgets
  • The cash budget
1.00pm Lunch
2.00pm
  • Flexible budget & Activity budgeting
  • Variance reporting and analysis
  • Management control
5.00pm End of course for Day 1
Time Topics

Day Two

10.00am
  • Capital Budgeting 
  • Use of various models for selecting capital expenditure
    • Pay back
    • Net Present Value
  • Internal Rate of Return
11.30am Break
11.45am
  • Financing the capital expenditure
  • The concept of cost of fund in capital budgeting
  • Risk consideration in capital expenditure
  • Case practice for :
    • Selecting capital decision
    • Preparing the capital budget
1.00pm Lunch
2.00pm
  • The concept of budget control with bench-marking in performance measurement
  • Behavioral aspects of budget and control
  • Budget as part of strategic planning
5.00pm End of course
LEARNING MATERIALS

Seminar, class participation, printed materials, supplementary readings, and case studies.

CERTIFICATE OF ATTENDANCE

A certificate of attendance will be issued to participants who successfully attended and completed the course.

Course Fee

$749.00 (incl GST)

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Call Us on: +65 6580 7700

Fax Us on: +65 6438 2478

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Opening Hours @ Springleaf Tower
3 Anson Road, Springleaf Tower, #06-01
Singapore 079909

Monday–Friday: 9am–9pm
Saturday: 9am–1pm
Sunday and PH: Closed

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