Understanding of Financial Reports for SME Owners & Non-Financial Managers

Course Date:

Registration Period:

8 hours / 1 day

9:00am to 6:00pm

Mode of Training:
Facilitated Learning (F2F)

Singapore Polytechnic

Course Introduction

Business owners in particular need to know how to read their financial reports to identify what went wrong with their business, and perhaps what went right too. Business performance is not measured by the number of items sold or the amount of revenue generated. It is gauged by the overall performance taking into account the gross income and expenditure. In addition, the understanding of the various agencies such as ACRA, IRAS and their functional duties are key information needed to manage any business. These information and awareness are particularly useful for SMEs and entrepreneurs.

Course Objective

This course aims to let business owners and managers who are operating the businesses to better understand their business performance from their financial reports.  By understanding the reports or performance of the business, owners or managers will be able to propose or make changes in the business to cater for economic changes.  Their decision to stay or to leave the business can also be determined once they are proficient in the understanding of the reports which in turn the business performance.

Course Outline

• Gathering business insights from financial reports

• Summarising and evaluating the performance of the business from the financial statements and reports

• Managing of cost by understanding industrial average

• Managing of cash flow in the business

Suitable for

Business Owners, Managers and Entrepreneurs with a good command of English and Mathematics.

Minimum Entry Requirements / Assumed Skills and Knowledge

GCE O Levels

Award / Certification / Accreditation

• Certificate of Performance (electronic Certificate will be issued)
A Certificate of Performance will be awarded to participants who pass the examination and meet at least 75% attendance rate

Full Fees (before GST): $350.00
GST payable for all funding-eligible applicants*: $7.35
GST payable for others: $24.50

Applicants/EligibilitySkillsFuture FundingSubsidised Fee (after GST)
Singapore Citizens aged 40 and above1$315.00 $42.35
Singapore Citizens aged below 40$245.00 $112.35 
Singapore Permanent Residents and LTVP+ Holders$245.00 $112.35 
SME-sponsored Singapore Citizens, Permanent Residents and LTVP+ Holders2$315.00 $42.35
Others (Full fees payable)$0.00$374.50 

*As per SSG’s policy, the GST payable is calculated based on 7% of the baseline funding subsidy of 70%

Singaporeans aged 25 years and above may use **SkillsFuture Credit balance to offset respective course fees.

1Under the SkillsFuture Mid-career Enhanced Subsidy. For more information, visit the SkillsFuture website here
2 Under the Enhanced Training Support for Small & Medium Enterprises (SMEs) Scheme. For more information of the scheme, click here. To view SP’s list of similar funded courses, click here. Please submit the attached “Declaration Form for Enhanced Training Support Scheme for SME” together with your online application.

Funding Incentives

Please click here for more information on funding incentives.

Register Here

Eligible for SkillsFuture Credit
Terms and Conditions

*Please note that once the maximum class size is reached, the online registration will be closed.
You may register your interest, and would be notified if there is new run.

Application Procedure

1. All applications must be made via Online Registration at www.pace.sp.edu.sg
Course fees can be paid by the following payment modes:

a) Credit Cards, Internet Banking, NETS (Not Applicable for company sponsored)
For e-payment using Visa/Master cards and Internet Banking, please click on the ‘Make e-Payment’ button on the acknowledgement page to proceed.

b) For NETS payment, you can pay at:
Singapore Polytechnic
PACE Academy

c) For payment via PayNow, please enter the UEN No. T08GB0056ACET and indicate the invoice/registration number.

*With effect from 1 August 2021, cheque payment will not be available.

2. All successful applicants will be notified with a letter of confirmation via email.