2-Day Course

Effective Costing & Budgeting Skills 

21 & 22 Dec 09 

9.00 am to 5.00 pm 

 Hotel Singgahsana Petaling Jaya  

Who Should Attend:

Costing supervisors / Costing Executive / Marketing executives who are involve product costing and budget / Senior Costing Clerk /Administrator who are involve in preparing budget 

Objectives:

Knowing the importance of cost behavior and budgeting that may impact on the company financial results. This course has been designed to enable participants to learn the various costing framework and cost analysis techniques, budgeting concept and practices for better decision. The candidates will also acquire the in depth knowledge on budgeting process, human behavioral aspects and formulation of budget.   

CALCULATOR REQUIRED 

Course Outline: 

COST CLASSIFICATION AND BEHAVIOUR 

• Direct and indirect cost
• Fixed and variable cost
• Total cost and unit cost
• Concept of cost units , cost centers and profit centers

• Allocation -assigning cost to cost centers
• Apportionment -cost is shared between cost centers
• Bases of apportionment of overhead -re-apportionment of services dept overhead

• Direct labor hour
• Direct wages cost
• Direct Material cost
• Machine hour
• Numbers of units produced
  
  
  

ACTIVITY BASED COSTING

• Identify organization major activities
• Cost drivers
• Collect costs of each activity
• Charge overhead to product based on usage of activity

COST PROFIT VALUME ANALYSIS 

• Concept of contribution
• Contribution sales ratio
• Break Even analysis
• Volume required attaining the target profit
• Margin of safety
• Limitation of approach
• Interpretation of result

COST CONTROL THROUGH BUDGET  

• Overview of budgeting framework
• Definition and objectives
• Method of budget preparation
• Fixed and flexible budget

• Budget guidelines
• Key budget input
• Translation of business plans into budget
• Review and Approval of budget

HOW TO PREPARE FUNCTIONAL AND MASTER BUDGET   

• Sales Budget
• Production budget
• Direct Material Purchases budget
• Direct Labor hour budget
• Factory overhead budget
• Cost of sales budget
• Selling and Administration expenses budget
• Income Statement
• Cash budget
• Balance Sheet

BEHAVIOURAL  ASPECTS ELEMENT IN BUDGETING   

• Top down
• Bottom –up
• Target setting and Motivation
• Lack of budget monitoring and control framework

Methodology: 

Lecture, Discussion & Exercise  

Course Leader:  

Mr. Tam Fook Cheong is a fellow member of the Charted Association of Certified Accountant (FCCA), Associate Member of the Chartered Institute of Management Accountant (ACMA) and a Chartered Accountant of the Malaysian Institute of Accountant (CA). Mr. Tam has more than 25 years of working experience in Finance, Accounting & Administration and has held various Managerial Position in the Oil and Gas industry. 

Mr. Tam has been a regular speaker for various seminars, workshops as well as in-house training organized by Management Consulting firm and Australia Society of certified public Accountant. As a prolific trainer, he has presented numerous papers in Accounting and Corporate Finance related topics throughout Malaysian and Singapore.

In addition, he has been lecturing extensively in various colleges for the past 20 years specializing in Strategic Finance Management, performance Measurement, Financial Reporting for various professional examinations, namely ACCA, MICPA and ICSA. Currently, Mr. Tam is also a local counselor in the Finance Module of MBA for a distance learning program and MSC Finance.  

Course Fee: 

CLAIMABLE UNDER HRDF / SBL SCHEME

• RM 950.00 per participant
• RM 900.00 per Participant for 2 or more participants