Effective Budget Planning and Controlling
There is no denying that among all available management financing techniques budgetary control is probably the least misunderstood and the most misused. It is often poorly planned and implemented. The wrong application of budgetary control could then lead to avoidance of the budget and manipulation of the budget finding.
Budgetary control needs to be introduced at the correct time in the correct way if it is to be effective. Efficient profit planning techniques can improve the overall management of any organisation and companies that plan are definitely more successful than those that do not.
A new climate, with an emphasis on competitiveness, quality and flexibility, means organisations must rethink their approaches to:
- Inflexible budgets which are unable to reflect on-going sudden changes
- The external dimensions of customer needs in addition to internal aspects of cost management
- Decision making for “what if”
- Understand the roles of budgeting in line with Corporate Objectives
- Understand the pre-requisite in order to prepare a complete budget
- Learn the useful and practical approaches in preparing budgets
- Prepare various core budgets using excel spreadsheets and templates
- Understand the strengths & weaknesses of budget
Module 1: Overview
- What is a Budget?
- Why is it important?
- How frequent is budget prepared?
- Overview of a Real Life Budget
Module 2: The Role Of Budgeting
- The Role of Budget Planning & Control
- Participation of managers who will determine the achievement of budgets
- Coordination of Master Budget
- Flow Chart of Budgeting Process
- Budgeting Review
Module 3: Prerequisites To The Preparation Of Budgets
- Type of Budget: Sales Budget, Operating Expenses Budget, Capital
- Expenditure Budget, Cash Budget
- Type and Behaviour of Costs
- What is Cost Drivers?
- Apportionment of common overhead
- Case Study: Preparing Operating Expenses Budget
Module 4: Approach To Budgeting
- Incremental Budgeting
- Zero Base Budget
- Activity Base Budgeting
- What is the best practice?
Module 5: Preparation Of Sales Budget
- Factors influencing the preparation of sales forecasts
- Methods of Sales Forecasting
- Case Study: Sales Budget
Module 6: Preparation Of Capital Expenditure Budget
- Basis of Deriving the Budget
- Case Study: Capital Expenditure Budget
Module 7: Preparation Of Cash Budget
- Cash vs Profit Revisit
- Case Study: Cash Budget
Module 8: Preparation Of Profit & Loss Statement
- Learn how to create the MS Excel worksheet templates
- Quick tips to replicate formulae and establish effective link to Profit & Loss Budget using MS Excel features
- Insert sparklines to show the trend of sales, expenses and profit over the 12 months period.
A must for all! Executives, Managers, CEO, Entrepreneurs
- Expert Input, Instructions
- Comprehensive Notes, Workbook & Handouts
- Group Discussions, Presentations
- Group & Individual Exercises
- Video Clips, Brainstorming Sessions
- Practical Hands On Sessions
Joanne Kok Yee Lan
Joanne Kok Yee Lan is a certified PSMB Trainer & certified MIM Trainer. She is also a Certified Accountant. She has conducted many training on various areas & aspects of finance including topics on Finance For Non Financial Executives, Budget Planning & Control, Financial Planning & Control, Evaluating Financial Statements, Financial Analysis, Effective Credit Management.
She has conducted many public seminars on financial topics including Financial Planning, Finance For Non Financial Executives, Budgeting. Participants from the banks include Bank Negara Malaysia, Affin Investment Bank, CIMB Bank, Ambank, Bank Islam, Bank Rakyat, Bank Pembangunan, Bank Simpanan Nasional, RHB Investment Bank, etc.
Joanne who graduated as a certified accountant (FCCA) from United Kingdom has accumulated about 20 years experience in audit, manufacturing, investment holding and training businesses. She has accumulated vast, hands-on working experiences in strategic, organisational analysis and planning.
The role as Financial Controller has best utilised her managerial, operational experience and financial analysis skills. She stepped up the controls in the area of credit, inventory and business processes that had generated millions of cash inflow and cost savings to the businesses. Her 3 years experience in China of setting up the joint venture business has added her strengths on business and financial controlling skills.
Currently, Joanne is a freelance technical & training consultant. She speaks on Budgeting and Variance Modelling regularly and extensively throughout Malaysia for MIA (Malaysian Institute of Accountants), ACCA and CPA Australia. In addition, she also conducts technical in-house training on accounting issues for commercial companies and training institutions.
Her exposure & passion in people development enhance the quality of training & making each one of them unique and experiential. Her fun & energetic personality has made her training sessions practical, high learning spirit & performance orientated. Along with that she has completed the Train the Trainer Program conducted by PSMB & MIM.
Her assertiveness & resourcefulness has driven her venturing into training and consultancy fields. She has conducted many trainings on financial for non-finance executives, project management, inventory management & finance related topics. Her financial, analytical and controlling experiences have actually contributed greatly to making the training sessions very practical & performance orientated.
Her exposure & passion in people development enhance the quality of training and making each one of them unique and experiential. Joanne always receives excellent ratings & comments from the participants she trained in. This is because she is able to take a complex subject like finance & accounting and is able to make it easy for participants to understand.
She is able to make the training enjoyable, captivating & interesting while imparting her extensive knowledge on finance & financial matters. She uses lots of case examples, case studies, exercises, activities, group discussions & brainstorming sessions to make sure participants understand what is being taught.