Budgeting for Small and Medium Enterprises
About This Course
Elevate your financial management skills with our WSQ Budgeting for Small and Medium Enterprises course. Tailored to address the unique financial challenges faced by SMEs, this course provides comprehensive insights into budgeting techniques, cost management, and revenue forecasting. You'll gain the knowledge to create and manage budgets, set financial goals, and analyze key performance indicators (KPIs), enabling you to make data-driven decisions that facilitate business growth and sustainability.
Become a catalyst for financial success in your organization by mastering the principles of budgeting and financial planning. This course delves into essential topics such as cash flow analysis, variance analysis, and budget adjustments to reflect changing business conditions. Whether you are a business owner, financial manager, or an aspiring entrepreneur, this course equips you with the skills and tools necessary for effective financial management, setting you on a path toward enhanced business performance and profitability.
What You'll Learn
- analyse business strategies and objectives
- carry out financial forecasting and budgeting for the financial year
- prepare budget to meet cash flow requirements
- prepare budget control plan
- perform financial analysis to highlight discrepancies
- report budget and seek approval
- financial control to ensure compliance
Course Outline:
Topic 1 Introduction to Financial Budgeting
Business Strategies and Objectives
Budgeting Parameters
Budgeting Types
Topic 2 Financial Forecasting
Key Principles of Accounting
Key Principles of Corporate Finance
Time Value of Money
Topic 3 Budget Preparation
Cash Flow Calculation
Preparing Budget
Topic 4 Budget Control Pan
Preparing Budget Control Plan
Budgetary Control Techniques
Topic 5 Budget Analysis
Compare Budget with Estimation
Financial Methodologies for Budget Control
Topic 6 Budget Approval
Budget Approval Process
Stakeholder Precautions
Topic 7 Financial Compliance
Singapore Taxation Policies
Financial Control and Compliance
Entry Requirements
Knowledge and Skills
• Able to operate using computer functions
• Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)
Attitude
• Positive Learning Attitude
• Enthusiastic Learner
Experience
• At least 12 months of working experience.