Accounting & Finance for Advanced Manufacturing

Course Provider

Centre for Professional and Continuing Education (PaCE@NTU)

Certification

Continuing Education and Training Certificate

Introduction

Advanced Manufacturing – the use of advanced technologies in manufacturing – has not only enabled factories to produce more technically sophisticated products, but also allow them to adjust their production more flexibly. Flexible manufacturing gives companies an edge as it adjusts to customers demand for greater variety, faster product introduction, and shorter product life cycles, while maintaining a consistently high product quality. This competitive edge can turn into competitive advantage if cost is kept low at the same time and pricing set at a competitive level. However, investment in Advanced Manufacturing does not come low and justifying it may pose a challenge for Management. This course provides an Overview of Manufacturing Accounting, Discuss the Cost Impact from adoption of Advanced Manufacturing, Explores Issues affecting the Investment Decision and Introduces the Techniques to evaluate it. Finally, it recommends using an Activity Based Costing System to track and refine product costing, to allow companies to make better pricing decisions for more competitive wins in the market place.
 

Course Availability

  • Date(s): 17 to 18 Mar 2022

    Time: 9:00AM to 5:00PM

    Venue: NTU@one-north campus, Executive Centre (Buona Vista)

    Registration Closing Date: 04 Mar 2022

  • Date(s): 19 to 20 May 2022

    Time: 9:00AM to 5:00PM

    Venue: NTU@one-north campus, Executive Centre (Buona Vista)

    Registration Closing Date: 06 May 2022

  • Date(s): 21 to 22 Jul 2022

    Time: 9:00AM to 5:00PM

    Venue: NTU@one-north campus, Executive Centre (Buona Vista)

    Registration Closing Date: 08 Jul 2022

  • Date(s): 22 to 23 Sep 2022

    Time: 9:00AM to 5:00PM

    Venue: NTU@one-north campus, Executive Centre (Buona Vista)

    Registration Closing Date: 09 Sep 2022

  • Date(s): 17 to 18 Nov 2022

    Time: 9:00AM to 5:00PM

    Venue: NTU@one-north campus, Executive Centre (Buona Vista)

    Registration Closing Date: 04 Nov 2022

At the end of this programme, participants will be able to:

  1. Understanding the various aspects of manufacturing accounting.
  2. Understanding the positive impact on cost drivers from introduction of advanced technologies.
  3. Understanding the other not-so-easily quantifiable benefits of advanced manufacturing.
  4. Build a financial investment case for advanced technologies & evaluation of it via discounted cash flow techniques.
  5. Sharpen a company’s competitive advantage via better costing system and better pricing decision.

1. The Manufacturing Profit & Loss (P/L)

  • Actual vs Standard Costing
  • Inventory Valuation (Marginal vs Full Absorption)
  • Manufacturing Variances in Standard Costing
  • Significant Manufacturing Cost Items to Watch
  • Cost Reductions (Sourcing, Productivity, Efficiencies)

2. Financial Benefits of Advanced Manufacturing

  • Impact on Manufacturing Cost Drivers
  • Impact on Inventory Cost
  • Other Qualitative & Indirect Financial Benefits

3. Justifying Capital Investment in Advanced Manufacturing

  • Financial Measures: Traditional vs Advanced Manufacturing
  • Capital Evaluation of Advanced Manufacturing Investments

a) Cost of Capital
b) Concept of Cash Flows / Time Value of Money
c) Building Up a Financial Investment Case
d) Net Present Value (NPV)
e) Internal rate of Return (IRR)
f) Other Considerations

4. Better Costing System, Better Pricing Decisions

  • Direct & Indirect Costs in Manufacturing
  • Activity-Based Costing System

a) Implementation Methodology
b) Comparison with alternative method

  • Pricing Methodologies
Plant Managers, Operations/Technical Managers, Plant Engineers & Business Analysts.

Standard Course Fee: S$834.60

Course fee payable after SSG funding, if eligible under various schemes

Cat-A SSG Funded Courses

S$250.38

Enhanced Training Support for SMEs (ETSS)

S$94.38

Mid-Career Enhanced Subsidy (MCES)

S$94.38

  • All fees stated are inclusive of 7% GST
  • NTU/NIE alumni may utilise their $1,600 Alumni Course Credits. Click  here for more information. 
 
 
 
 
 
 
 
 

 

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Mr Ee Teck Siew

Mr Ee Teck Siew

After graduating with a Bachelor of Accountancy in 1994, Mr Ee Teck Siew started with one of the ‘Big Four’ accounting firms and proceeded to gain valuable financial leadership experience and over the next 20 over years in various industries. He has also accumulated overseas working experience in China and Hong Kong, as well as as CFO of publicly listed company and private equity owned company in the manufacturing space. His past experience has provided him with a strong foundation in finance and accounting in general and financial leadership in embracing technology, inter-personal relations skills, communications and contemporary management knowledge in pursuit of his professional career. He is passionate to share his knowledge and experience with others. Mr Ee also holds an Executive Master of Business Administration from Nanyang Technological University.