Course Detail(BF091 : Understanding Business Planning & Budgeting)

SDF Funding, SkillsFuture Credit

BF091 : Understanding Business Planning & Budgeting

14.00 CPE Hours (Others)
Classroom

Programme Objective
The role of accounting & finance is fast expanding into one of business partnership with other departments in an organisation. This workshop provides both insight into the business planning process (which is necessary for effective financial planning and budgeting) and key pointers in the budgeting process itself. By the end of this workshop, you will:

  • Understand how longer-term business planning is done
  • Be equipped with a practical framework to structure a Business Plan that is easy to read and understand, be it a business-development or process improvement plan
  • Know the key points and pitfalls to watch for when assessing or approving Business Plans
  • Know how to quantify the payoffs and funding needs
  • Know how to incorporate risks into the plans
  • Know how to do budgeting effectively

Programme Outline

PART I: Business Planning

  • Business Planning framework   
  • In context of Strategic Planning 
  • Relationship between  Business Plans, Financial Plans & Budgets 
  • Strategic Planning process  
  • Analysis of external & internal environment
  • Choosing strategies – Relevance of Business Plans 
  • Implementation – Relevance of Budgets
  • Structuring an effective Business Plan  
  • Why Business Plans fail to get attention 
  • Key components of a Business Plan  
  • Use of the Executive Summary
  • Identifying key action strategy  
  • Key pointers in Marketing Plan, Operations Plan, Management Plan, Financial Plan       
  • Inter-dependency of various plans  
  • Financial Plan: The payoff  
  • Payback period  
  • Net Present Value  
  • Internal Rate of Return  
  • Financial Plan: Funding requirements 
  • Identifying amount of funds needed
  • Deciding on level of buffer cash reserve
  • Identifying & quantifying risks     
  • Identifying risks
  • Building risks into business plan
  • Use of Breakeven and Sensitivity Analysis   
  • Mapping out implementation of Business Plan 

  • Setting milestones

  • Importance of change management

PART II: Budgeting

  • Budgeting at corporate level 
  • Quantifying corporate objective 
  • Use of budgets      
  • Inter-dependency of budgets    
  • Roles of finance & non-finance managers in budgeting 
  • Differing budgeting methods and their pros & cons    
  • Selecting suitable methods for different types of budgets 
  • Budgeting at department or team level  
  • Identifying & quantifying costs  
  • Identifying & quantifying revenue 
  • Checklist for budget preparation        
  • Pre-requisites for effective budgeting    
  • Impact on cash flow management 
  • Relevance of cash flow forecast
  • Impact of budgets on cash flow management

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

Training Methodology

  • Lectures

  • Exercises

  • Case studies

  • Sharing of real experiences

Closing Date for Registration
1 week before programme or until full enrolment

Approved for SDF funding - For Company-sponsored participants only (eligibility criteria apply)
Approved for SkillsFuture Credit - For Self-sponsored participants only (eligibility criteria apply)

Intended For

Financial Controllers, Finance Managers and Accountants who review business plans &/or budgets •Business Managers who develop business plans &/or providing inputs into budgets •Entrepreneurs who need to know how to do business planning and financial planning •Financiers who need to assess the feasibility of business plans furnished by client

Competency Mapping

Others = 14.00 Hours

Schedule & Fees

Date & Time

16 Mar 2020 (9:00 AM - 5:00 PM)
17 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

09 Jul 2020 (9:00 AM - 5:00 PM)
10 Jul 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

08 Dec 2020 (9:00 AM - 5:00 PM)
09 Dec 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

05 Dec 2019 (9:00 AM - 5:00 PM)
06 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chow Chan Kwan

Date & Time

11 Jul 2019 (9:00 AM - 5:00 PM)
12 Jul 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chow Chan Kwan

Date & Time

18 Feb 2019 (9:00 AM - 5:00 PM)
19 Feb 2019 (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 April 2020
Course Reference Number: CRS-N-0031494

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (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: Register for the course online via ISCA Portal. 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. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, 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 here: 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.


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 April 2020
Funded Hours: 14 hours
Course Reference Number: CRS-N-0031494

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”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

 

Employers of company-sponsored participants must submit training grant via SkillsConnect system 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. 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.
 
 

Programme Objective
The role of accounting & finance is fast expanding into one of business partnership with other departments in an organisation. This workshop provides both insight into the business planning process (which is necessary for effective financial planning and budgeting) and key pointers in the budgeting process itself. By the end of this workshop, you will:

  • Understand how longer-term business planning is done
  • Be equipped with a practical framework to structure a Business Plan that is easy to read and understand, be it a business-development or process improvement plan
  • Know the key points and pitfalls to watch for when assessing or approving Business Plans
  • Know how to quantify the payoffs and funding needs
  • Know how to incorporate risks into the plans
  • Know how to do budgeting effectively

Programme Outline

PART I: Business Planning

  • Business Planning framework   
  • In context of Strategic Planning 
  • Relationship between  Business Plans, Financial Plans & Budgets 
  • Strategic Planning process  
  • Analysis of external & internal environment
  • Choosing strategies – Relevance of Business Plans 
  • Implementation – Relevance of Budgets
  • Structuring an effective Business Plan  
  • Why Business Plans fail to get attention 
  • Key components of a Business Plan  
  • Use of the Executive Summary
  • Identifying key action strategy  
  • Key pointers in Marketing Plan, Operations Plan, Management Plan, Financial Plan       
  • Inter-dependency of various plans  
  • Financial Plan: The payoff  
  • Payback period  
  • Net Present Value  
  • Internal Rate of Return  
  • Financial Plan: Funding requirements 
  • Identifying amount of funds needed
  • Deciding on level of buffer cash reserve
  • Identifying & quantifying risks     
  • Identifying risks
  • Building risks into business plan
  • Use of Breakeven and Sensitivity Analysis   
  • Mapping out implementation of Business Plan 

  • Setting milestones

  • Importance of change management

PART II: Budgeting

  • Budgeting at corporate level 
  • Quantifying corporate objective 
  • Use of budgets      
  • Inter-dependency of budgets    
  • Roles of finance & non-finance managers in budgeting 
  • Differing budgeting methods and their pros & cons    
  • Selecting suitable methods for different types of budgets 
  • Budgeting at department or team level  
  • Identifying & quantifying costs  
  • Identifying & quantifying revenue 
  • Checklist for budget preparation        
  • Pre-requisites for effective budgeting    
  • Impact on cash flow management 
  • Relevance of cash flow forecast
  • Impact of budgets on cash flow management

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

Training Methodology

  • Lectures

  • Exercises

  • Case studies

  • Sharing of real experiences

Closing Date for Registration
1 week before programme or until full enrolment

Approved for SDF funding - For Company-sponsored participants only (eligibility criteria apply)
Approved for SkillsFuture Credit - For Self-sponsored participants only (eligibility criteria apply)

Intended For

Financial Controllers, Finance Managers and Accountants who review business plans &/or budgets •Business Managers who develop business plans &/or providing inputs into budgets •Entrepreneurs who need to know how to do business planning and financial planning •Financiers who need to assess the feasibility of business plans furnished by client

Competency Mapping

Others = 14.00 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

Date & Time

16 Mar 2020 (9:00 AM - 5:00 PM)
17 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Chow Chan Kwan

Venue

60 Cecil Street
ISCA House
Singapore 049709