Organisation Structure Design and Job Analysis

Budget planning is of utmost importance in the context of HR development. HR is an organisation’s most valuable asset and critical for achieving long-term business success. By utilising and developing a well-planned budget, organisations can make informed decisions to allocate resources effectively, foster employee growth and development, and implement strategies to attract and retain top talent.

Learning Outcomes

• Be able to prepare finance and non-finance data ready for the finance function, including ESG metrics
• Understand the rationale of budgeting process of a business and the importance of Zero-Based Budgeting (ZBB), with a focus
  on ESG-related costs and benefits
• Learn the skills of budget preparation and presentation and the use of key performance indicators (KPIs) in HR context
• Be able to prepare a simple business budget using Excel, incorporating ESG considerations

1. How to get your finance and non-finance data ready for finance function?

Human resource management (HRM) is the creation, development and maintenance of an effective workforce, matching the physical and virtual requirements of the organisation and responding to the changing environment (e.g. AI, ChatGPT, DeepSeek etc.). What potential information wants to see in the financial statements relating to HR? How to become a successful storyteller to present the finance and non-finance data to finance function?

• Understand the rationale of finance and non-finance data
• Master the latest trends of HR cycle, including ESG considerations
• Be able to prepare finance and non-finance data ready for the finance function

2. Factors affecting / will change your budget:

Budget is a future quantitative and financial plan of a business. It provides the functions of planning, co-ordination, control, communication, evaluation and authorisation. The budgeting process will consist of preparing several functional budgets and a master budget related to the budgeted period. Any key resource changes (cash, labour, materials etc.) will affect the decisions making of a business.

• Understand the rationale of budgeting process of a business and the importance of Zero-Based Budgeting (ZBB)
• Learn the skills of budget preparation and presentation
• Be able to identify the principal / limiting budget factor for long term business growth (e.g. the impact of COVID-19 pandemic and ESG regulatory changes)

3. What are some key areas that users will look at on your budget?

A master budget will consist of a budgeted statement of profit or loss for the budget period, a cash budget and a budgeted statement of financial position at the end of the budgeted period. All of them will act as the body check reports of the business, in terms of financial performance, position and adaptability. Users will use different key performance indicators (KPIs) calculated from the master budget to locate their concerned areas. Stress testing will be applied by the users to ensure that the budget and the business can withstand the pressures under both expected and unexpected changing business environments.

• Understand the key concerned areas of the master budget
• Learn about the use of key performance indicators (KPIs) in the
  HR context with ESG metrics
• Be able to plan a master budget to pass the stress testing, incorporating ESG risks and opportunities

4. How to create a business budget by Excel spreadsheet, incorporating ESG considerations? (Your laptop & Microsoft Excel will be used in this section)

Microsoft Excel is an integral business tool which allows users to create a customised solution to manage their finances. Users can use it to create the business budget in a simple and easy way. Business can easily use the tool to keep their spreadsheets intact and adjust them as necessary.

• Understand the rationale of relevant visualisation techniques
• Learn the skills of budget preparation by Excel
• Be able to prepare a simple business budget, incorporating ESG
  considerations

Mr Frenda So

A member of the Chartered Institute of Management Accountants (CIMA), the Hong Kong Institute of Certified Public Accountants (HKICPA) and the Chartered Association of Certified Accountants (ACCA). He is also the Chartered Secretary and Chartered Governance Professional of the Hong Kong Chartered Governance Institute (HKCGI) and the Chartered Governance Institute (CGI UK & Ireland).

To qualify for the course certificate, participants are required to fulfil ALL of the requirements below:

• Attend 100% of the workshop

• Complete in-class exercises and achieve a PASS mark in the post-workshop quiz

**Participants are required to bring their own smartphones, laptops with Microsoft system and pre-installed MS Excel and MS Word (2019 or higher version) and PDF reader to the class**

Click here for Online Registration

Enquiry:

Ms Icey Lau

Tel: (852) 2837 3830

Email: learning@hkihrm.org