Course Detail(WD008 : WSQ Develop and Establish Financial Budget and Plans)

SkillsFuture Credit, SSG Funding

WD008 : WSQ Develop and Establish Financial Budget and Plans

16.00 CPE Hours (Others)
Classroom

Important:
As this is a WSQ-accredited programme, ISCA is required to upload participant’s assessment results to SkillsFuture Singapore (SSG) for the generation of electronic Statement of Attainment (SOA). ISCA will collect personal information from all participants to generate the relevant SOA.

  • For more information, please refer to SSG website HERE.


Programme Objective

This 2-day course is designed to discuss the main features of determining financial needs, formulating financial plans, establishing resource allocation, reviewing financial forecasts and budgets, as well as monitoring the budget and reporting findings to relevant stakeholders.

  • Interesting case studies will be used to make your learning even more relevant to your job.
  • Discussions for collaborative exchange of ideas.
  • Games to develop connections with the content and form positive memories of learning.

Programme Outline

The following topics will be covered in the 2-day course:

  • Determine short and long term financial needs to assess current financial situation.
  • Formulate financial plans aligned to overall organisational strategies.
  • Establish allocation of resources in accordance with organisational financial plans.
  • Review financial forecasts to anticipate changes in circumstances.
  • Review draft budget in accordance with organisational guidelines.
  • Monitor and evaluate actual figures against budget to identify and address variances.
  • Report findings, recommendations and options to relevant stakeholders for review in accordance with organisational policies.

 
The course will help participant to know and understand:

  • types of financial milestones and performance indicators
  • methods of identifying factors that may impact financial plans or budgets
  • assumptions and parameters of financial forecasts
  • means of communication of budget plans
  • stakeholders to discuss and negotiate cost allocation and targets with 
  • significant issues pertaining to budgets


Training Methodology


Interactive competency-based training, with a combination of instructional methods of lectures, discussions and assessments.

Assessment


Written assessments (open book) on both days.
(For those applying for WDA training grant, it's compulsory to complete and pass all assessments)

Closing Date for Registration


1 week before programme or until full enrolment

Intended For

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; Management staff with corporate responsibilities for strategic performance.

Competency Mapping

Others = 16.00 Hours

Schedule & Fees

Date & Time

18 Sep 2024 (9:00 AM - 6:00 PM)
19 Sep 2024 (9:00 AM - 6:00 PM)

Fee (inclusive of GST)

For Members: $ 610.40
For Non-Members: $ 610.40

Programme Facilitator(s)

Jasmine Ng

Venue

60 Cecil Street
ISCA House
Singapore 049709

Testimonial

Funding

As part of SSG’s on-going review of funding schemes, there will be a revision in funding subsidies for courses commencing from 1st Jan 2022 onwards.
These are the changes:

  • Company-Sponsored SME Enhanced (Singapore Citizens or PRs) - Funding revised from 90% to 70% subsidies.
  • Company-Sponsored Non-SME (Singapore Citizens or PRs) - Funding revised from 50% subsidies capped at $15/hr, to 50% subsidies with no cap.
  • Singapore Citizens (40 years old and above) - Funding revised from 90% to 70% subsidies.
  • Singapore Citizens (21-39 years old) and PRs - Funding revised from 50% subsidies capped at $15/hr, to 50% subsidies with no cap.

1] SSG Training Grant
Funding Period: Until 31 May 2024
Course Ref No.: TGS-2016500598

Participants who successfully complete the course will receive aWSQ Statement of Attainment (SOA) in Develop and Establish Financial Budget and Plans.
 
1a] Company-sponsored Employees
If you wish to enrol participants with SSG Funding, please proceed with the following step/s (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SSG Funding?”, click Yes and input all required information. At the Cart page, please ensure that SSG funding is applied before clicking “Checkout”. 

Enterprises/employers are not required to log into TPGateway to submit training grant application. The employee’s enrolment, attendance and assessment records will be submitted by ISCA onto TPGateway. Thereafter, employers will be notified to log into Enterprise Portal for Jobs & Skills (EPJS) to declare necessary information for Absentee Payroll funding.

*Training Grant/Fees shown below are for courses commencing before 1st Jan 2022.

 

SME Enhanced
·Singapore Citizen or Permanent Resident

Non-SME
·Singapore Citizen or Permanent Resident

Mid Career
·Singapore Citizen
-40 years old and above

Workfare Skills Support (WSS)
·Singapore Citizen
-35 years old and above
-Monthly income of not more than $2,300

SSG Training Grant

$504.00

$240.00

$504.00

N.A

Nett Fees Payable to ISCA (Inclusive of GST)

$95.20

$359.20

$95.20

N.A

Company can claim the following Absentee Payroll

Absentee Payroll

80% of basic hourly salary, capped @ $7.50/hour

80% of basic hourly salary, capped @ $4.50/hour

80% of basic hourly salary, capped @ $4.50/hour

95% of basic hourly salary

 

*Training Grant/Fees shown below are for courses from 1st Jan 2022 onwards.

 

SME Enhanced
·Singapore Citizen or Permanent Resident

Non-SME
·Singapore Citizen or Permanent Resident

Mid Career
·Singapore Citizen
-40 years old and above

Workfare Skills Support (WSS)
·Singapore Citizen
-35 years old and above
-Monthly income of not more than $2,300

SSG Training Grant

$392.00

$280.00

$392.00

N.A

Nett Fees Payable to ISCA (Inclusive of GST)

$207.20

$319.20

$207.20

N.A

Company can claim the following Absentee Payroll

Absentee Payroll

Fixed rate at $4.50/hour

95% of basic hourly salary

Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).


SkillsFuture Enterprise Credit (SFEC)
The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
Please click 
HERE for more information.


1b] Self-sponsored Individuals
If you wish to enrol with SSG Funding, please proceed with the following step:

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SSG Funding?”, click Yes and input all required information. At the Cart page, please ensure that SSG funding is applied before clicking “Checkout”.

ISCA will apply for Training Grant from SSG in respect of self-sponsored trainees.
*Training Grant/Fees shown below are for courses commencing before 1st Jan 2022.

 

Mid-Career
·Singapore Citizen
·40 years old and above

Baseline
·Singapore Citizen or Permanent Resident

SSG Training Grant

$504.00

$240.00

Nett Fees Payable to ISCA (Inclusive of GST)

$95.20

$359.20

*Training Grant/Fees shown below are for courses from 1st Jan 2022 onwards.

 

Mid-Career
·Singapore Citizen
·40 years old and above

Baseline
·Singapore Citizen or Permanent Resident

SSG Training Grant

$392.00

$280.00

Nett Fees Payable to ISCA (Inclusive of GST)

$207.20

$319.20

Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Applicant must either be a Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must be at least 21 years old and;
  • Applicant must achieve at least 75% attendance, and pass all assessments and;
  • Applicant is taking the course for the first time.

Workfare Skills Support (WSS) Scheme
From 1 July 2020, the Workfare Skills Support (WSS) Scheme will replace the Workfare Training Support (WTS) Scheme. WSS encourages low wage workers to undertake training that leads to more impactful employment outcomes. Please click HERE for more information.

 

2] SkillsFuture Credit (SFC)
Funding Period: Until 31 May 2024
Course Ref No.: TGS-2016500598

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

  • Step 1: You will need to ensure that you have sufficient SkillsFuture Credits in your SkillsFuture Credit account in order to make a successful claim. Please check your SFC account balance here.
  • Step 2: Register for the course online via ISCA Portal.
  • Step 3: Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information.
  • Step 4: At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 5:Upon receiving an email that the programme status is confirmed, please proceed to submit SFC claim on SkillsFuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal (http://www.skillsfuture.sg/credit).

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Programme Facilitator(s)


Jasmine Ng
CA (Singapore), FCCA, ACTA, DACE


Jasmine Ng is a Fellow member of the Association of Chartered Certified Accountants (ACCA) and a member of the Institute of Singapore Chartered Accountants (ISCA). She has over 18 years of extensive experience in the area of audit, accounting, financial analysis, business controlling, enterprise system implementation and training. She travelled extensively during the course of her work and gain exposure to different culture and work style.

She utilizes her creativity and real-world examples in conducting her training. Jasmine is passionately fond of training and always willing to share with others all that she knows. Her outgoing, pleasant personality and confident disposition have made her training all the more lively, fun and insightful.
 

Important:
As this is a WSQ-accredited programme, ISCA is required to upload participant’s assessment results to SkillsFuture Singapore (SSG) for the generation of electronic Statement of Attainment (SOA). ISCA will collect personal information from all participants to generate the relevant SOA.

  • For more information, please refer to SSG website HERE.


Programme Objective

This 2-day course is designed to discuss the main features of determining financial needs, formulating financial plans, establishing resource allocation, reviewing financial forecasts and budgets, as well as monitoring the budget and reporting findings to relevant stakeholders.

  • Interesting case studies will be used to make your learning even more relevant to your job.
  • Discussions for collaborative exchange of ideas.
  • Games to develop connections with the content and form positive memories of learning.

Programme Outline

The following topics will be covered in the 2-day course:

  • Determine short and long term financial needs to assess current financial situation.
  • Formulate financial plans aligned to overall organisational strategies.
  • Establish allocation of resources in accordance with organisational financial plans.
  • Review financial forecasts to anticipate changes in circumstances.
  • Review draft budget in accordance with organisational guidelines.
  • Monitor and evaluate actual figures against budget to identify and address variances.
  • Report findings, recommendations and options to relevant stakeholders for review in accordance with organisational policies.

 
The course will help participant to know and understand:

  • types of financial milestones and performance indicators
  • methods of identifying factors that may impact financial plans or budgets
  • assumptions and parameters of financial forecasts
  • means of communication of budget plans
  • stakeholders to discuss and negotiate cost allocation and targets with 
  • significant issues pertaining to budgets


Training Methodology


Interactive competency-based training, with a combination of instructional methods of lectures, discussions and assessments.

Assessment


Written assessments (open book) on both days.
(For those applying for WDA training grant, it's compulsory to complete and pass all assessments)

Closing Date for Registration


1 week before programme or until full enrolment

Intended For

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; Management staff with corporate responsibilities for strategic performance.

Competency Mapping

Others = 16.00 Hours

Programme Facilitator(s)

Jasmine Ng
CA (Singapore), FCCA, ACTA, DACE


Jasmine Ng is a Fellow member of the Association of Chartered Certified Accountants (ACCA) and a member of the Institute of Singapore Chartered Accountants (ISCA). She has over 18 years of extensive experience in the area of audit, accounting, financial analysis, business controlling, enterprise system implementation and training. She travelled extensively during the course of her work and gain exposure to different culture and work style.

She utilizes her creativity and real-world examples in conducting her training. Jasmine is passionately fond of training and always willing to share with others all that she knows. Her outgoing, pleasant personality and confident disposition have made her training all the more lively, fun and insightful.
 


Upcoming Schedule

Date & Time

18 Sep 2024 (9:00 AM - 6:00 PM)
19 Sep 2024 (9:00 AM - 6:00 PM)

Fee (inclusive of GST)

For Members: $ 610.40
For Non-Members: $ 610.40

Programme Facilitator(s)

Jasmine Ng

Venue

60 Cecil Street
ISCA House
Singapore 049709