Course Detail()

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

Schedule & Fees

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 www.myskillsfuture.gov.sg)

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 (www.myskillsfuture.gov.sg).

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)

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.