Effective budgeting: Enhancing skills and practices - Kuala Lumpur (14-May-2026)

HRD Corp Claimable Course (T&C applies*)
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This workshop highlights the importance of budgeting, forecasting and budgetary control as essential management tools in accounting, costing and finance. Effective budgeting and cash flow forecasting support the implementation of an organisations strategic plan by providing clear insights into performance and direction. A well-organised budget, supported by regular reforecasting and proper control, helps organisations achieve planned profits, objectives, OKRs and ultimately their vision.

Key topics covered:

Introduction

• Starts with thinking
• Introduction of systems thinking
• Framework and model for budgeting
• Types of budget
• Revisiting of vision and mssion achievements
• Assess positioning of the company in the industry
• Issues identification

Approach to budget preparation

• Budget guidelines and time frame
  - Financial parameters
  - Economic assumptions
  - Objectives, strategies development and key success measurements
• Market environmental factors / scan

Operational budget

• Detail sales budget
• Sales collection budget
• Production budget
• Material budget consumption and purchase requirements and closing stocks
• Payment requirement budget
• Manpower and overheads/expense budget
• Production cost, cost of sales and closing stock budget
• Functional budgets

Financial or master budget

• Statement of income (profit and loss)
• Statement of financial position (balance sheet)
• Statement of cash flow
• Sensitivity analysis, risk & opportunities

Budgetary control and forecasting

• Variance Analysis
  - Sales price, volume, value mixed and quantity mixed
  - Material (usage volume, price, mix and yield)
  - Labor (efficiency, rate and idle time)
  - Direct overhead spending and spending efficiency
  - Indirect overheads and operating expenses spending efficiency
• Periodical forecasting/rolling budgeting

Presenter:

Tan Kok Tee

Tan Kok Tee has 40 years of working experience in accounts and financial, strategic and general management field. He has held a variety of leadership and senior management roles in various organisations, starting in the accounts and finance department until CFO level and the last being Group Chief Executive Officer. Kok Tee has been involved in advisory, training and facilitation on an ad-hoc basis from 2009-2013, and full time from 2014 to now. To-date he had conducted about 400 training workshops throughout Malaysia on topics on GST; SST; Practical accounting for accounting staffs; Reading, analysing and interpreting financial statement; Accounting and finance for non-accounting managers; Customers credit evaluations and Collection strategies and so much more.