MSc Enrichment Talk - Managing Business Performance and Budgetary Control – Linking budgeting and forecasting to Company’s strategy and value creation By Ms Irelan Tam Regional Finance Director, Johnson & Johnson, Hong Kong Member of CIMA Hong Kong Committee Date: Time: Venue: Quota: December 10, 2014 (Wednesday) 12:00noon to 1:30 pm - Talk followed by Q&A Session and CIMA Info session LSK 1003, 1/F, Lee Shau Kee Business Building, HKUST 50 Managing business performance in today’s rapidly changing business environment is very challenging for the Finance Professionals. Organizations demand an effective Management Accounting function to manage business performances and provide insights on business trends and drivers of performance. However, financial planning is having limited value and just perceived as only an annual exercise. Dissatisfaction with financial planning often echoes across the Top Management organization who could not trust the outputs from the process. Meanwhile the Sales and Marketing function also complains about the significant amount of time have been spent on activities that could not support business decision making. So how to transform the financial planning to a management and budgetary control system that add values to business organizations? Key discussions: What are the critical factors impacting Business Planning and Budgeting? What are the key problems encountered in Business Planning and Budgeting? Practical aspects of how to link the most important business processes and establish a world class management control systems towards Company’s value creation. Discussion of strategic scorecards in business performance management system What is Beyond Budgeting? The role of Accounting Professionals in the Business Performance and Budgetary Control process. Speaker’s Profile Irelan Tam FCMA, CGMA, regional FD for Johnson & Johnson Medical Asia Pacific, began her career at Hong Kong Jardine, and moved to various accounting functions across different companies before joining Johnson & Johnson Hong Kong as accounting manager in 1992. During the past 18 years at Johnson & Johnson, she has worked across a variety of functions, including warehouse and delivery, supply chain, OTC, purchasing, finance, general administration, HR and IM. She finished her Doctorate in business administration in 2005 when she was working on the efficient health care response project with a local health hospital authority. Currently, she has taken up an assignment for SAP and business performance management implementation for Johnson & Johnson Medical Asia Pacific. Read more about her flourishing career, and how the CIMA professional qualification has assisted that success, please visit http://www.cimaglobal.com/About-us/CIMApeople/Working-with-CIMA/CIMA-members-top-global-roles/Irelan-Tam-Johnson--Johnson-Medical-Asia-Pacific/.