As dramatic changes in the financial markets work their way through the economy, organisations face the issue of making difficult costing and budgeting choices to ensure that their decisions are profitable for the company. Hence, it is crucial for managers and executives to understand the approach behind cost calculation so that they are able to obtain a strong balance in allocating resources as well as drive and track revenues which will ultimately diffuse cash crunch situations.

This one-day workshop is designed to help corporations manage their costing and budgeting effectively. Managers and executives will be equipped with basic costing and budgeting concepts in order to create an efficient cost analysis system to better control and measure the business functions.

“The information gained in this workshop is valuable to our new Finance
Department and will enhance our system in work. Excellent!”
- Ms Angelica G. Diloy, Finance/HR Manager,
Lexmar Engineering Pte Ltd

Participants will walk away with skills and techniques to help make quality financial decisions that will aid in fulfilling the organisation's objectives as well as how cost accounting information can be organised.

Detail

Date:
Duration:	1, day(s) 9:00AM - 5:00PM
Fee:	$430.00
Venue:	Hotel Rendezvous or similar

- Fees are subjected to prevailing GST of 7%

For more information, please contact JobsDB Learning at 6578 8111 or email to learning@jobsdb.com.sg

Payment must be made before the commencement of the workshop. No cancellation is allowed 7 days prior to workshop.

Participants will receive a Certificate of Attendance upon course completion.

Outline

Overview of Cost and Management Accounting
- differences between financial accounting and management accounting
- differences between marginal costing and absorption costing
- concepts of relevant costs
- benefits of standard costing and budgetary control

Budgeting and Variance Analysis
- interpretation
- investigation
- limitations: labour and materials

Cost Volume Profit (Breakeven) Analysis
- cost behaviour
- fixed costs, variable costs, semi-variable costs
- breakeven analysis
- contribution margin of safety

Short Term Decision Making
- decision criteria
- applications:
* acceptance of special contracts
* most efficient use of scarce resources
* make-or-buy decisions
* closing or continuance of a section or product

Activity Based Costing
- characteristics and applications of ABC with case example

Facilitators

Mr Lim Kaim Soon

Methodology

Participants are guided through practical steps of the topic with a combination of lectures, case studies and group discussions.

Who Should Attend

HR managers, general/admin managers, professional administrators or anyone who do not have prior accounting background or experience, but need to be equipped with basic accounting knowledge and apply accounting related techniques when making business decisions.

Testimonials

“Now I know the important factors to consider when doing Budgeting and Costing, and how to narrow down the estimated budget to ensure greater accuracy.”
- Mr Sim Yong Piou, Chief Trainer, SIW Project, Certis CISCO Security Pte Ltd

“I have gained more knowledge about Budgeting and how to manage cost well.”
- Ms Tan Pey Lin, Engineering Assistant, Pan Electrics Pte Ltd

Objectives

-understand the various costs concepts
-learn the fundamentals of budgeting and use it for variance analysis
-understand and apply cost volume profit (breakeven) analysis
-make profitable short-term decisions after consideration of the cost and benefits
-appreciate activity based costing as a more accurate costing method

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Manage Costing & Budgeting Effectively