COURSE DESCRIPTION / AIMS
Creating a budget is not just an exercise to the managers of the company but it is an important tool that helps an organisation make comprehensive plans for its operational and financial goals. It may be used for controlling as well as evaluation purposes as well.
Another aspect of budgeting known as Capital budgeting is an appraisal process of projects and investments. It is used to determine if an organisation’s long term investments such as replacement of machinery, research and development projects are worth the funding of cash through the organisation’s capitalization structure.
These are key areas that a modern manager needs to understand the financial implications of their day–to-day decisions and its impact on the business itself.
This course adopts a step-by-step approach for participants to understand as well as prepare the operational and financial budgets, as well as to make capital decisions through the use of simple case studies. Throughout the course, the participants may work in groups by way of discussions or activities.
By the end of this two-day course, the participants will be able to prepare as well as interpret budgetary figures for planning, control purposes as well as for decision making.
COURSE OBJECTIVES / OUTLINE
At the end of this course, participants will be able:
- Describe the purpose and explain the importance of budgeting
- List the benefits and limitations of budgeting
- Explain the importance of and identify the principal budget factors in preparing a budget
- Explain the behavioural aspects of budgeting
- Describe the process involved in budgeting and to prepare the master budgets
- Explain the major features and advantages of a master budget
- Describe and differentiate the different categories of operating budget
- Prepare the operating budget and its supporting schedules
- Prepare a budgeted income statement
- Describe and differentiate the different categories of a financial budget
- Prepare the financial budget and its supporting schedules
- Prepare a cash budget
- Describe and apply the tools and concepts of financial analysis: time value of money, present value, future value and required rate of return
- Apply the following capital budgeting techniques/selection criteria to evaluate investment proposals
- Net present value
- Internal rate of return
- Payback period
- Discounted payback period
- Apply the various techniques/criteria in selection of mutually exclusive and independent projects
- Recognize the limitations of capital budgeting
A minimum of 75% attendance will be required for you to complete the programme and receive your certificate.
Management, HODs, Finance/Admin personnel or anyone who is in-charge of budgeting in VWOs.
Programme Managers, Programme Co-ordinators, Programme Executives and Case Workers in the Intermediate and Long Term Care (ILTC) sector who may be required to prepare financial budgets at work.
Course Fees: $220.00 (excluding GST)
Prevailing course fee subsidy at 90% for Singaporeans/ PRs and 45% for foreign staff working in eligible community care organisations.
Please register for the course via AIC Learning Management System (LMS 2.0).