Budgeting and Cost Management for Non-finance Professionals (HKIE CPD 0862/2020)

24 August 2020 (Mon)

Time
0930 –1700

Fee
HK$1,500

Venue
Wanchai/ Admiralty

Language
Cantonese supplemented with English materials

Budgeting and cost analysis are crucial elements for the management of engineering projects. In addressing the issue, this seminar provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing competition where the budgets are linked with both the achievement of strategic objective as well as with evaluation of future plans and initiatives.

Content

  • The role of budgeting within management accounting
  • Key concepts and terminology of budgeting
  • Key concepts and terminology of cost management
  • Fixed vs. variable costs: the Cost-Volume-Profit analysis model
  • How to refine a costing system?
  • Costs: Life Cycle Costing, Target Costing and Kaizen Costing
  • Direct vs. indirect costs: Traditional Cost Allocation systems vs. Activity-based Costing
  • Introducing Activity-based Budgeting and Activity-based Management
  • Case studies

Trainer

Mr. Kamsuo Wong
MA LLM MBA FCPA (Aust.) CPA (HK) CPFA (UK)

Mr. Kamsuo Wong has over fifteen years of extensive professional experience in accounting. He is a professional accountant in Hong Kong, United Kingdom and Australia and the member of Hong Kong Institute of Certified Public Accountants (CPA), Chartered Institute of Public Finance and Accountancy (CPFA), and CPA Australia (FCPA). He is also the Expert Council Advisor of International Financial Management Association. Mr Wong had provided various trainings for multinational corporations such as Cathay Pacific Airways, Mitsubishi (Hong Kong), Hua Neng Power (Beijing), Shiseido (Beijing), Mobifone (Vietnam) and HKSAR Government including the Inland Revenue Department and Housing Authority in the areas of financial reporting, financial management and management accounting. Mr Wong is also the speaker for the CPD seminars for CPA Australia in the areas of financial reporting and management accounting.