Practical Budgeting, Cost Control & Planning

25-26 Aug, 2022, Remote Online Training - Public

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Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.

 

Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 28 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years’ period. Steven has successfully developed Budgeting & Cost control model and are now actively imparting his skills.

 

He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad).

 

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd, Sony Malaysia Sdn Bhd, Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance

 

He is currently providing management consultancy and training specializing in Sales & Marketing, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.

WHAT YOUR COLLEAGUES ARE SAYING ABOUT THE COURSE…
“What I enjoyed from this cost reduction program is Dr Liew sharing on his real experience; planning budget; Cost saving method & Case Study”: HR Manager, Hock Seng Lee Concrete

 

“Thank you, Dr Liew, for guiding us in cost reduction on how to look out for budgeting; cost reduction areas and the approach to implementation”: Assistant General Manager; Sarawak Produces Industry Co

 

“I really appreciated Mr. Liew imparting his Real-life story of actual application of budgeting & cost reduction strategies & many case studies”: Plant Controller; Ceramica Indah Sdn Bhd

 

“The case studies and exercises that are most practical & relevant to me are story of Automobile cost reduction; Cost Reduction/Turnaround case studies; Johnson- Relates to Speaker Personal experience – Soft landing skill”: Purchasing Executive; Ceramica Indah Sdn Bhd

Venue Details

Remote Online Training - Public

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Phoebe,
M - 019 363 7822
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
yvonne@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Module 1: Converting Business Plan & Key Performance Indicators into Budgets
  • Module 2: Linking the Budget to Management Actions
  • Module 3: Profit Planning and Activity-Based Budgeting
  • Module 4: How to Monitor Your Sales, Costs & Collection
  • Module 5: Managing Costs
  • Module 6: Strategic Accounting Tools
  • Module 7: Cost Management (Case Study)
  • Module 8: Success Story of Cost Reduction (Case Study)

SPECIAL FEATURE: Participants Will Receive a Set of Practical Templates suitable for all sectors.

OVERVIEW
Is your organization budget still valid & reliable? This practical budgeting course will assist you to revisit the way budgeting is being done and ways to improve and create values for your organization. Many budgeting case studies will be used to highlight the importance of using your financial statement to achieve your budget target. In order to reduce cost effectively, you need to have the heart of an entrepreneur. By creating value for your organization, you will be amazed at the speed of career advancement.
COURSE LEARNING OUTCOMES (CLO)
  1. Describe Your Organization Vision & Mission To Be Relevant In Today’s Competitive Environment
  2. Outline Ways To Achieve Your Budget Targets
  3. Perform Materials, Labour & Overheads Costs Effectively
  4. Identify the Cost Reduction Strategies For Your Organization Costs
  5. Identify Cost Management & Accounting Tools To Improve Financial Perfomance
  6. Plan How To Achieve Optimum Profitability Under Budget Constraints
WHO SHOULD ATTEND
Accountants, Business Managers, Finance Managers, Executives, Supervisors, Managers, Company Secretaries and All Professionals Who Are Interested in Managing Budgeting & Cost Control
METHODOLOGY

Case Study & Group Discussion. Real-current Financial Issues & Cases Will Be Analysed, And Scenario Solutions Will Be Discussed Within The Course.

Special Feature: Participants Will Receive a Set of Practical Templates suitable for all sectors. These templates:

  • Ease in planning, reporting & decision-making process
  • Snapshot of overall issues & problem
  • Financial modeling using goal seek strategies for cash flow, profit, sales target, budgeting & working capital requirements.
DAY 1
  BUDGETING PROCESS
9:00

MODULE 1: CONVERTING BUSINESS PLAN & KEY PERFORMANCE INDICATORS INTO BUDGETS  

  • CEO Vision & Mission
  • KPI (Dept & Individual)

 


10.45

MODULE 2: LINKING THE BUDGET TO MANAGEMENT ACTIONS

  • What Are Essential Considerations Before Preparing The Budgets
  • How To Present A More Accurate & Realistic Budget
  • How To Avoid Unexpected Results Or Uncertainties
  • How To Measure Performance

 

1:00 Lunch
2:00

MODULE 3: PROFIT PLANNING AND ACTIVITY- BASED BUDGETING (EXERCISE)

  • Operational Budget
  • Financial Budget

 

3:45

MODULE 4: HOW TO MONITOR YOUR SALES, COSTS & COLLECTION

  • Define Your Sales Projection, Factor In Fluctuation (Q1, Q2, Q3 & Q4)
  • Do Your Monthly Average Sales & Expenses
  • Used 3 Estimate Techniques (2+10, 5+7, 8+4) And Also Use SMART (Specific, Measurable, Achievable, Realistic & Timebound)
  • Make Sure Your Budget Is Relevant At All Times During The Year

 

5:00 End of Day 1
DAY 2
  COST CONTROL & MANAGEMENT
9:00

MODULE 5: MANAGING COSTS

  • Material
  • Labour
  • Overheads


10.45

MODULE 6: STRATEGIC ACCOUNTING TOOLS

  • Outsourcing The Services
  • Provide Consultancy Service
  • Analyse Strategic Decision

 

1:00 Lunch
2:00

MODULE 7: COST MANAGEMENT (CASE STUDY)

  • Outsourcing or Make-or-Buy Decision
  • Decision to Add or Drop a Product, Service, or Business Unit
  • Relevant Costs of Replacing Equipment
  • Pricing Decisions
  • Break Even Analysis (BEP)

 

3:45

 MODULE 8: SUCCESS STORY OF COST REDUCTION (CASE STUDY)  

  • Objective: Will Show The Roadmap To Achieve Cost Reduction Target
  • How To Target Saving For Your Organization

 

5:00 End of Course