Essentials of Budgeting
22nd - 23rd Mar 2010,The Legend Hotel,Kuala Lumpur
14th - 15th Jun 2010,The Legend Hotel,Kuala Lumpur
Dear friend,
In today's tight economy, as a businessman or manager, you must know how to plan and use the budgets to effectively grow your business. Budget is thus a yardstick that you should use to measure your actual performance. You can then correctly interpret financial information and establish financial policy and report on the performance of business, which is critical to your success. Successful businesses around the world have one thing in common: they budget their money. The ability to gauge performance using budgets is often viewed as a matter of life and death in the business world. If you know how to plan and use the budget effectively, you win hand down over the one who does not. So, if you are nervous about budgeting, this course will soothe and show you the essentials of budgeting.
What is this workshop all about?
This workshop is designed in hope to assist you learn how to prepare various budget quickly and easily to fend off competitions from your rivals and to enhance your shareholders' value in this dynamic environment by setting the goals, visions and KPIs that your staff will be able to follow and quickly achieve.
The 17 Important Lessons you will learn during this 2 day workshop
Lesson 1: Mission Statement
- Case Exercise on Mission Statement
Lesson 2: Describe the Budgetary Planning
- Budgeting basics
- Prepare Financial Budgets
- Master Budget
- Non-manufacturing companies
- Preparing Operating Budgets
- Case Exercise on Budget Philosophies
Lesson 3: Indicate the Benefits of Budgeting
Lesson 4: State the Essentials of Effective Budgeting
- Sound Organization Structure
- Research & Analysis
- Management Acceptance
- Length of Budget Period
Lesson 5: Describe the Budget Process
- Budget Committee
- Budgeting and Human Behavior
- Rules of Jungle Fighters
- Case Exercise on Rules of Budgeting
Lesson 6: Identify the Budgets that comprise the Master Budget
- Secrets of 5-Minute Budget
- Operating Budgets
- Financial Budgets
- A Resource Checklist
- Analyzing the External Environment
- Analyzing the Internal Environment
- Putting in all together
Lesson 7: Describe the Sources for preparing the Operating Budgets
- Sales Budget
- Production Budget
- Direct Materials Budget
- Manufacturing Overhead Budget
- Selling & Administrative Expense Budget
- Case Exercise on Salary Planning
Lesson 8: Describe the Sources for preparing the Financial Budgets
- Cash Budget
- Budgeted Balance Sheet
- Case Study on Cash Budget
Lesson 9: Indicate the Applicability of Budgeting in Non-Manufacturing Companies
- Merchandise Companies
- Service Enterprises
- Not-for-Profit Organization
- Case Study on Demonstration Problem
Lesson 10: Show the Concept of Budgetary Control & Responsibility Accounting
- Concept of Budgetary Control
- Static Budget Reports
- Flexible Budgets
- Concept of Responsibility Accounting
- Principles of Performance Evaluation
Lesson 11: Describe the Concept of Budgetary Control
- Budgetary Control reporting System
- Budget Reviews
- Case Exercise on Budget Review
Lesson 12: Evaluate the Usefulness of Static Budget Reports
- Case Illustration
Lesson 13: Explain the Development of Flexible Budgets and Usefulness of Flexible Budget Reports
- Why Flexible Budgets?
- Case Illustration
- Management by Exception
- Materiality
- Controllability
- Case Study on Flexible Budget
Lesson 14: Describe the Concept of Responsibility Accounting
- Responsibility Accounting
- Controllable v. Non-Controllable Revenues & Costs
- Responsibility Accounting System
Lesson 15: Indicate the Features of Responsibility Reports for Cost Centers
- Direct & Indirect Fixed Costs
- Responsibility Reports
- Case Illustration
- Case Exercise on Profit Centers
Lesson 16: Explain the Basis and Formula used in Evaluating Performance in Investment Centers
- Improving ROI
- Increasing Controllable Margin
- Reduce Average Operating Assets
- Judgment Factors in ROI
- Case Study on Demonstration Problem
Lesson 17: Put All in a Business Plan Format
- Vision Statement
- People
- Business Profile
- Economic Assessment
- Cash Flow Assessment
- Sample of a BUSINESS PLAN
Why this workshop?
You will learn the 7 essentials skills that would improve your business financial management.
You will learn how to:
- Develop master budgets, operating budgets, and financial budgets
- Use budget planning to translate managerial decisions into ringgits
- Set monthly and yearly targets and be prepared for contingencies
- Evaluate the usefulness of different budget reports
- Describe the concept of responsibility accounting
- Get successful reviews and approvals
- Apply a business plan
What others have to say after they have attended this workshop
“The course is good and helpful”
Chung Soo Beng, Hunter Douglas (M) Sdn Bhd
“Informative and good personal experience from the speaker”
Wilson Wong, Schenker Logistics (M) Sdn Bhd
“Overall an interesting training course”
Tin Swee Ting, SCIB Concrete Manufacturing Sdn Bhd
“Job well done”
Chong Kim Cheng, WRP Specialty Products (M) Sdn Bhd
Course Leader
aGEE Lee has more than 22 years of experience in the commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad in 1980 to set up a Legal Documentation Department.
He started as a trainee officer moving up to Branch Manager, Loan Manager managing Corporate and Commercial Loans and finally as Head of Loan Recovery Division bringing down NPLs to RM65m from RM800m.
He also worked in a property development company, then constructing a condominium and Nilai 3, for 2 years, and involved in a manufacturing company before working for 2 years in a construction company, executing federal contracts on roads, schools and colleges, in Kota Kinabalu, Sabah.
Besides marketing and approving the commercial loans, he was instrumental in setting up the Loan Recovery Section supervising about RM1.9b NPLs and was involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years.
His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.
Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).
He is now a Training Consultant for IBBM, MIA and Banks in Malaysia and Vietnam. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.
Who Should Attend
Finance Managers, Executive, Accountants, Financial Controllers, General Managers, CFO, COO, CEO and Directors.
Workshop Size
Registration is strictly to the first 25 people. This cannot be altered. If the past is any indication of the future, spaces fill up very quickly. If you are interested in attending, call us now or download the registration form here and fax it back to us at ++6 03 40235716.
HRDF Claimable
This workshop is claimable under the HRDF SBL Scheme. Checks with your department to make sure you are eligible.
Tax Deductibility
In all likelihood this seminar is tax deductible. Check with your accountant to be sure.
Workshop Investment $$
RM 1190.00 per delegates. This includes all workshop materials. Lunch will be provided.
Early Bird Offer!!
If you register yourself EARLY, you will enjoy a discount of 5%. For more information, please refer to the registration form here.
Group Discount!!!
If you register in group of 3 persons or more, you will enjoy additional 5% discount, and if your group are 5 persons or more, you will get a much greater discount of 7%, and 10% discount shall be entitled for group of 8 persons or more. So get your friend or colleagues to register with you!
100% Satisfaction Guaranteed
We understand that some of you don't know us. That is why we make this workshop a 100% satisfaction guaranteed. If for any reason whatsoever you don't feel like you have received more than your money worth by lunch break, simply hand in your materials for a complete 100% refund. No weasel clauses, no hassles, no questions asked. We won't lie, as rarely we have to make refund to our participants; however it is our integrity which makes our business successful.
If you like what you have gone through so far, you may register yourself by downloading the full brochure here, and fax the registration form back to us at ++6 03 40235716. And if you happen to have some friends or colleagues who would like to improve their budgeting skills, please forward this link to them.
Yours Sincerely,
BIZFinanceSeminar.com
Tel: ++6 03 40216000
Fax: ++6 03 40235716
Email: bfs@bizfinanceseminar.com
