Essential Finance for Procurement Personnel
26th - 27th Apr 2010,The Summit Hotel,Subang Jaya
Dear friend,
A purchase personnel has to source the raw materials or finished goods cheaply from reliable suppliers who readily deliver good and high quality goods.
Thus a purchase manager has to be able to decipher the financial data of his business provided by the accountant, support the business decisions of the finance manager and then implement the overall KPIs of the investors or board of directors. With a thorough understanding of the financial statement and tools, the purchaser would be able to run the business or to implement the policies of his purchase department in order to attain the overall objective of profit maximization.
What is this workshop all about?
This workshop is designed to show the important aspects on the several accounting tools that can make you finance-savvy to understand and manage smoothly your purchase department, to negotiate with your suppliers for better credit limits and terms, to assist the production department to source cheaply and reliably good quality materials and to influence any owners and investors to put their money and trust in your business.
The 12 Important Lessons you will learn during this 2 day workshop
Day 1: Show the fundamentals of accounting and the principles of finance that help to understand and review the financial reports. Nothing can be left alone to the accountants to figure and juggle these reports
Lesson 1: Basic concept
- Cash Accounting v. Accrual Accounting
Lesson 2: Sales
- Types of sales, sales returns, sales allowances, & cash discounts
Lesson 3: Cost of goods sold
- Inventory, LIFO, FIFO, trade discount, volume discount, purchase discount, cost of services & effects on profits by using various methods of costing
Lesson 4: Inventory Management
- Raw materials, semi-process, & finished goods inventory, other inventory costs, minimize inventory costs & economic order quantity model
Lesson 5: Expenses
- Classification, comparative, common size, department or Division, contribution margin, & breakeven point
Lesson 6: Equipments
- Depreciations, sold, lost or stolen, repair or refurbishment
Day 2: Appreciate the fundamentals of accounting shown in the Profit & Loss Accounts, Balance Sheet, and various Budgets that are useful for making operating and capital decisions. Failing to interpret these financial figures can be catastrophic to the running of your business
Lesson 7: Buying or leasing and contracting
- Payback method, time value of money, net present value, IRR, repair or replace, leasing or purchasing
Lesson 8: Balance Sheet
- Assets, liabilities, working capital, & equity
Lesson 9: Budgeting
- Sales budget, cost of goods budget, expense budget, budget summary, & cash flow budget
Lesson 10: Manufacturing
- Cost of manufactured goods, expenses, unit costs
Lesson 11: Break-Even Analysis
- Calculating BEP, graphing break-even analysis, "variable cost" control point
Lesson 12: Analysis of business
- Income statement, balance sheet, retained earnings statement, ratios, cash flow statement, notes to financial statements
Why you should attend this workshop?
You will learn to appreciate the benefits of understanding the concepts of basic accounting and the 9 crucial skills that could make your job easier.
You will learn how to:
- understand the terms of accounting
- pay attention on how the accountant prepare the financial statements
- lay down your expectation of what's constitute a good operated business
- avail to all available information to assess whether to invest scarce resources or inject further capital into the business
- maintain a continuous vigilance on the purchase department
- make good decisions on credit limits, credit terms and effects of discounts
- establish the rules on good reporting
- plan and map in advance goals, strategies and activities of the business in a dynamic circumstances
- appraise goals and strategies planned as well as to make immediate correction on these strategies
Course Leader
aGEE Lee has more than 22 years of experience in the commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad in 1980 to set up a Legal Documentation Department.
He started as a trainee officer moving up to Branch Manager, Loan Manager managing Corporate and Commercial Loans and finally as Head of Loan Recovery Division bringing down NPLs to RM65m from RM800m.
He also worked in a property development company, then constructing a condominium and Nilai 3, for 2 years, and involved in a manufacturing company before working for 2 years in a construction company, executing federal contracts on roads, schools and colleges, in Kota Kinabalu, Sabah.
Besides marketing and approving the commercial loans, he was instrumental in setting up the Loan Recovery Section supervising about RM1.9b NPLs and was involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years.
His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.
Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).
He is now a Training Consultant for IBBM, MIA and Banks in Malaysia and Vietnam. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.
What others have to say after they have attended aGEE workshop
“Informative and good personal experience from the speaker”
Wilson Wong, Schenker Logistics (M) Sdn Bhd
“Job well done”
Chong Kim Cheng, WRP Specialty Products (M) Sdn Bhd
“Relevance to the working environment and filled with examples”
Choo HC, Teck Ping Chan (1976) Sdn Bhd
“Overall session has gone with good presentation in improving planning & leveraging cash flow”
Mohd Asrizan, Neural Oilfield Service Sdn Bhd
“I like best about the discussion on real life cases during the session”
Munirah Othman, Selia Selenggara Selatan Sdn Bhd
Who Should Attend
Procurement Managers, Executive, Planner, Engineer, Accountants, General Managers, CFO, COO, CEO and Directors
Workshop Size
Registration is strictly to the first 25 people. This cannot be altered. If the past is any indication of the future, spaces fill up very quickly. If you are interested in attending, call us now or download the registration form here and fax it back to us at ++6 03 40235716.
HRDF Claimable
This workshop is claimable under the HRDF SBL Scheme. Checks with your department to make sure you are eligible.
Tax Deductibility
In all likelihood this seminar is tax deductible. Check with your accountant to be sure.
Workshop Investment $$
RM 1190.00 per delegates. This includes all workshop materials. Lunch will be provided.
Early Bird Offer!!
If you register yourself EARLY, you will enjoy a discount of 5%. For more information, please refer to the registration form here.
Group Discount!!!
If you register in group of 3 persons or more, you will enjoy additional 5% discount, and if your group are 5 persons or more, you will get a much greater discount of 7%, and 10% discount shall be entitled for group of 8 persons or more. So get your friend or colleagues to register with you!
100% Satisfaction Guaranteed
We understand that some of you don't know us. That is why we make this workshop a 100% satisfaction guaranteed. If for any reason whatsoever you don't feel like you have received more than your money worth by lunch break, simply hand in your materials for a complete 100% refund. No weasel clauses, no hassles, no questions asked. We won't lie, as rarely we have to make refund to our participants; however it is our integrity which makes our business successful.
If you like what you have gone through so far, you may register yourself by downloading the full brochure here, and fax the registration form back to us at ++6 03 40235716. And if you happen to have some friends or colleagues who would like to improve their financial and accounting knowledge, please forward this link to them.
Yours Sincerely,
SCMWorkshop.com
Tel: ++6 03 40216000
Fax: ++6 03 40235716
Email: scmw@scmworkshop.com
