TRAINING COURSES

Cost Management & Budgeting

Summary


Price:
$449.4
Language:
English
Funding:
WSQ/SDF,SkillsFuture Credit
No. of Days:
1 Day
Location:
Central
Funding Individual
Full Cost S$449.4
Please refer to the "Funding" tab to understand details breakdown
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Organisations face the issue of making difficult costing and budgeting choices that ensure profitable decisions for the company when changes in the financial markets start affecting the economy. Managers and executives must understand the approach behind cost calculation in order to gain a strong balance in allocating resources along with driving and tracking revenues.
 
This course aims to explain the various key elements, concepts and application of Cost Management and Budgeting, which are commonly used for monitoring internal financial performance and making future business plans.
 
After the workshop, you will be able to:
  • gain understanding of the concept of cost management
  • know the various factors that affect cost management
  • learn to use cost management information for planning and controlling
  • define budgeting and its role in planning, controlling and decision making
  • understand the budgeting process
  • maintain budgetary control

What you will learn?

  • Overview of Cost and Management Accounting
    - Differences between Financial Accounting, Cost Accounting and Management Accounting
    - Understanding nature of costs and their behaviour
  • Cost-Volume-Profit Analysis
    - Semi-variable costs
    - Fixed & variable costs
    - Break even analysis
    - Contribution
    - Margin of safety
  • Short-term decision making
    - Assessing opportunity to enter contracts
    - Most efficient use of scarce resources
    - To make or buy?
    - To close or continue?
  • Costing of product
    - Absorption costing
    - Activity-based costing
    - Identifying cost drivers of activities
  • Factors influencing cost management
  • Budgets and budgeting
    - Purpose of budgeting
    - Benefits of budgeting
    - Why budget fails?
    - Budgeting process
    - Types of budgeting
  • Performance measurement linking budgeting to business objectives
    - Divisional performance by cost, profit and investment centres
    - Budget variance analysis

 

Who Should Attend?

Executives and managers who are required to plan and control costs and manage budget.

Methodology
Participants will be equipped with the necessary knowledge to prepare and interpret reports within the organisation through interactive and simple explanations with illustrations.

Location:
Central
Address:
90 Stamford Road
Building Name:
School of Economics and Social Sciences, Singapore Management University (SMU)
Postal:
178903
...
EON Consulting & Training Pte Ltd

EON Consulting & Training Pte Ltd, formerly known as Effective Outsource Networks, was established in 1996 and specialises in providing human capital consulting and training services to organisations in Singapore.

It has helped organisations improve on day-to-day human resource operations through three main areas of support, namely, information service, consulting and training.

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Celine Tan


Ms Celine Tan holds a Master in Business Administration (with distinction) from Business School of Strathclyde (Scotland) and is a FCCA, Fellow of The Association of Chartered Certified Accountants (UK) and a member of the Institute of Singapore Chartered Accountants.  She has also obtained the Advanced Certificate for Training and Assessment from Institute for Adult Learning.

She has worked in several senior positions in public listed companies and MNC in the field of financial and management accounting for over 10 years, spanning across the industries of auditing, transportation, healthcare, shipping and trading. Some companies Celine has worked for are: SBS Transit Ltd (AVP, Finance), Parkway Health (Financial Controller) and Maersk Line (AGM Finance).

Celine’s working experience coupled with her involvement in various cross functional process improvement projects as well as providing internal and external training have further enhanced her skill in delivering relevant knowledge and solutions to the participants.

The following are details breakdown of the funding

Individual
*Funding
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SkillsFuture -
Productivity & Innovation Credit -
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Note

  • Funding is subjected to approval from the government agencies
  • The amount is calculated based on the "Up to" percentage of the course fees
  • Taking into assumption that you have not fully utilized the SkillsFuture Credit and Productivity & Innoviation Credit Scheme

 


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