PDI - Business Financial Planning (此課程內容只提供英文版本)
Tel: 2836 1863
Email: johntsang@vtc.edu.hk Ms. Ivy Chan Tel: 23974 3663 Email: ivychan@vtc.edu.hk Fax: 2891 5707
Learning Outcomes
On completion of the module, students are expected to be able to:
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outline and assess the principal factors involved in the main legal form of business and the consequences of bankruptcy of insolvency;
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define and analyze the scope and the main features of business accounts and financial controls, taxation of business entities, and measurement and management of risks and return; and under different factors of the client’s consideration according to different business activities; and
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advise on adjustments to be made on risk management plans according to clients’ portfolio and needs.
Learning Contents
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The legal forms of business
- Formation issues and practical consequences of the different legal forms
- Sole trader
- Partnership
- Unincorporated association
- Limited company
- The corporation
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Business accounting
- Profit and loss accounts, balance sheets, cash flows and budgets
- Record keeping:- sales and cash receipts; cash disbursement; other journals
- Investment decision making
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Taxation and Wealth planning
- Income tax
- Corporation tax issues including tax planning including extraction of funds, basis of assessment of gifts, benefits in kind, cars, living accommodation etc.
- How capital allowances are used
- Wealth, Asset and Estate planning, process and tools
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Corporate finance, financial analysis and budgeting
- Corporate finance, financial analysis and budgeting
- Methods of raising finance business capital (types & sources), security, bank practice
- Sale and purchase of businesses and business assets
- Balance sheet analysis; income statement ratios
- Financial budgeting:- sales budget, cash budgets -budgetary considerations
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Bankruptcy and insolvency
- Legal and financial implications
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Risk management
- Introduction to risk management
- Objectives of risk management
- Steps in the risk management process
- Risk and general business insurance
- Personal risk
- Property risk
- Liability risk
- Pecuniary risk
- Business insurance coverage: auto insurance, office insurance, crime insurance; commercial liability insurance; workers’ compensation insurance; interruption insurance
- Employee Benefits
- Group life and health insurance
- Retirement plans: Qualified retirement plans; defined contribution plans; defined benefits plans; non-qualified retirement plans
- Pension Planning
- Use of individual personal pensions including self-invested personal pensions
- Use of MPF, group personal pensions, stakeholder pensions, and share incentive plans
- Protection insurance
- Share and partnership protection arrangements
- Trusts
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Business continuity
- Keyman insurance
- Buy-sell agreement, share and partnership protection
- Disability buyout
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Business practical financial planning application process
- Business practical financial planning application process
- Understand business financial objectives
- Collecting and analysing data
- Developing the business financial plan and presenting reasoned recommendations
- Implementation of the plan
- Monitoring of the plan
- Self insurance, retention and captive
- Corporate Governance
Entry Requirements:
- Five HKDSE subjects at Level 2 or above, including English and Chinese Languages with 2 or more years relevant full-time work experience; or
- Five HKCEE subjects at Grade E/Level 2 or above, including English* and Chinese Languages with 3 or more years relevant full-time work experience; or
- Completion of a QF Level 3 programme that is deemed acceptable to the respective Programme Committee; or
- Relevant Recognition of Prior Learning (RPL) qualification(s) at QF Level 3 or above AND a pass in an admission interview; or
- Other relevant verifiable prior learning and/or work experience that is/are deemed appropriate by respective Programme Committee AND a pass in an admission interview.
Continuing Education Fund
The modules of “Professional Diploma in Insurance” (PDI) have been included in the list of reimbursable courses for Continuing Education Fund (CEF) purposes (https://www.wfsfaa.gov.hk/cef). The mother course “Professional Diploma in Insurance” of the modules is recognised under the Qualifications Framework (QF Level 4).
For the modules commenced on or before 31 March 2022 (the 1st module should be commenced on or before the date), CEF claimants would be eligible for fee reimbursement upon their successful completion of any 4 modules selected from PDI (CEF Course Code: 33F11053A), with the fulfilment of both the minimum attendance requirement of 70% AND passing each of the 4 modules at 50% or above.
For the modules commenced on or after 16 August 2022, CEF claimants would be eligible for fee reimbursement upon their successful completion of any one module selected from PDI with the following CEF course codes, with the fulfilment of both the minimum attendance requirement of 70% AND passing the module at 50% or above.
| CEF course code (for the modules commenced after 16 August 2022) | CEFCourse Title in English (for the modules commenced after 16 August 2022)
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| 33Z13928A | Business Financial Planning (Module from Professional Diploma in Insurance) |