NUS Extension

Professional & Management



This workshop will benefit executives, managers and directors in every functional area and from all industries for whom it is advantageous to know the budgeting process and how responsibility accounting plays a key role in management control. These key management planning and control tools are essential to enhance your management repertory.

Participants are required to bring own calculator to the workshop.




2 Days


Click on the selected date to apply now or download registration form to apply later.

Intake 01
6 - 7 Aug 09

Intake 02
29 - 30 Oct 09

Intake 03
19 - 20 Nov 09



S$1,000 (Inclusive of GST)


NUS Extension (#12-01 Park Mall)

 

 

 

 

 

 

 


The Budgeting Process & Responsibility Accounting for Non-Finance Professionals

Synopsis

When administered intelligently, budgets can help to:

  • promote planning including the implementation of plans
  • link the budget with strategic analysis for the organization including overall objectives, trends, risks, alternative strategies
  • define performance criteria

Comparing actual performance against a budget is better than comparing this year’s achievements to last year’s results. This course will teach how the budgeting process can be linked with responsibility to enhance corporate performance.


Objectives

    • To understand the Budgeting Process
    • To learn what are Operating Budgets and how they are put together
    • To understand how Financial Budgets are developed
    • To understand how the Cash Budget is developed
    • To learn how the Master Budget evolves from its various components
    • To understand what is Responsibility Accounting and the Role of Budgets in Responsibility Accounting


Course Outline

    Introduction to the Budgeting Process
    • Stages in the Planning Process
    • The Multi Function of Budgets
    • Conflicting Roles of Budgets
    • The Budget Period
    • Administration of the Budgeting Process
    • Stages in the Budgeting Process

    The Operating Budgets
    • The Sales Budget
    • The Production Budget and Budgeted Stock Levels
    • Direct Materials Usage Budget
    • Direct Materials Purchase Budget
    • Direct Labour Budget
    • Factory Overhead Budget
    • Selling and Administration Budgets
    • Departmental Budgets

    The Financial Budgets
    • The Budgeted Income Statement
    • The Budgeted Balance Sheet

    Master and Cash Budgets
    • Components of the Master Budget
    • Preparing the Master Budget
    • Preparing the Cash Budget

    Responsibility Accounting
    • What is Responsibility Accounting?
    • Four Types of Responsibility Centres
    • Responsibility Accounting Performance Reports


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