Course Detail(BF093v : Effective Management Accounts (Live Webinar))

SDF Funding, SkillsFuture Credit

BF093v : Effective Management Accounts (Live Webinar)

7.00 CPE Hours (Others)
Live Webinar

The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.

Programme Objective
An effective set of management accounts is one which can be used as a tool for decision-making and performance evaluation. Used correctly, management accounts can drive desired behaviors and actions of business units and departments to improve performance.
This programme:

  • Provides insight into the differing types management account structures and how they are used for differing types of decisions
  • Provides an understanding of variance analysis as a tool for promoting accountability and enabling corrective action.

Programme Outline

1.   Differing management account structures & their use

        •         Common features in all formats

        •         Common decisions using management accounts

        •         Traditional format

        •         Contribution format

        •         Brand Result format

        •         Incorporating WACC (Weighted-Average Cost of Capital)

 

2.   Analyzing variances

        •         Relevance of flexing the budget

        •         Interpreting & analyzing variances  

                         o         Sales variances

                         o         Material variances

                         o         Labor variances

                         o         Spending variances

                         o         Capacity variances

        •         Impact of budgeting method

        •         Checklist for variance reports


* Participants are required to bring along their calculator for hands-on exercises.
 

Pre-requisites

Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking
     

Training Methodology

•         Lectures

•         Exercises

•         Case Studies


Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Finance Managers, Accountants and Analysts who need to structure management accounts for users’ effective decision-making and performance evaluation •Business Unit heads and Department heads who wish to understand how management accounts can assist them in decision-making and promotion of accountability

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

16 Jun 2021 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chow Chan Kwan

Date & Time

12 Oct 2020 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chow Chan Kwan

Date & Time

17 Jun 2020 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chow Chan Kwan

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 16 Apr 2023
Course Reference Number: TGS-2020500880

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:

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.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 16 Apr 2023
Funded Hours: 7 hours
Course Reference Number: TGS-2020500880

If you wish to enrol participants with SDF Funding, please proceed with the following steps (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 WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     

 

For course run start date before 1 Nov 2020, submit training grant application in SCN until 30 Nov 2020.

For course run start date on or after 1 Nov 2020, Enterprises/employers are NOT required to log into TPGateway/SCN to submit training grant.

Remarks

Step 2: After receiving email that the programme status is confirmed, please proceed to submit the Training Grant application via SkillsConnect Portal (https://www.skillsconnect.gov.sg/).

Employers of company-sponsored participants must submit training grant via SkillsConnect to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date.

The employee’s enrolment, attendance and assessment recordswill be submitted by ISCA onto TPGateway.


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).

Programme Facilitator(s)


Chow Chan Kwan
 
Mr Chow has more than 15 years of industrial experience as General Manager of various manufacturing and retail subsidiaries of a multinational company in Singapore and China.
 
He has also delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank.
 
Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA.  While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university’s Graduate Assistant Scholarship Scheme.
 
Mr Chow is currently a professional trainer and consultant, specialising in Accounting, Finance, Taxation, Strategic and Supply Chain Management.
 
 

The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.

Programme Objective
An effective set of management accounts is one which can be used as a tool for decision-making and performance evaluation. Used correctly, management accounts can drive desired behaviors and actions of business units and departments to improve performance.
This programme:

  • Provides insight into the differing types management account structures and how they are used for differing types of decisions
  • Provides an understanding of variance analysis as a tool for promoting accountability and enabling corrective action.

Programme Outline

1.   Differing management account structures & their use

        •         Common features in all formats

        •         Common decisions using management accounts

        •         Traditional format

        •         Contribution format

        •         Brand Result format

        •         Incorporating WACC (Weighted-Average Cost of Capital)

 

2.   Analyzing variances

        •         Relevance of flexing the budget

        •         Interpreting & analyzing variances  

                         o         Sales variances

                         o         Material variances

                         o         Labor variances

                         o         Spending variances

                         o         Capacity variances

        •         Impact of budgeting method

        •         Checklist for variance reports


* Participants are required to bring along their calculator for hands-on exercises.
 

Pre-requisites

Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking
     

Training Methodology

•         Lectures

•         Exercises

•         Case Studies


Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Finance Managers, Accountants and Analysts who need to structure management accounts for users’ effective decision-making and performance evaluation •Business Unit heads and Department heads who wish to understand how management accounts can assist them in decision-making and promotion of accountability

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Chow Chan Kwan
 
Mr Chow has more than 15 years of industrial experience as General Manager of various manufacturing and retail subsidiaries of a multinational company in Singapore and China.
 
He has also delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank.
 
Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA.  While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university’s Graduate Assistant Scholarship Scheme.
 
Mr Chow is currently a professional trainer and consultant, specialising in Accounting, Finance, Taxation, Strategic and Supply Chain Management.
 
 

Upcoming Schedule

Registration is closed

Date & Time

16 Jun 2021 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61   $ 276.49
For Non-Members: $ 415.16   $ 332.13
Discount till 31 Dec 2021

Programme Facilitator(s)

Chow Chan Kwan

Venue

Online Classroom in or outside of
Singapore