Fundamental of Accounting, Understanding and Preparation of The Full Set of Accounts

Course Objectives

• Understand the objective of Accounting, Accounting concepts, Accounting Reports, Basic Accounting terminologies
• Understand the role and task of the Accounting Function
• Exposed to the full sets of Accounts, Profit & Loss, Balance Sheet, Cash Flow Statement, Monthly Reports
• Review of Basic Terms in Accounting
• Understand the Financial Statements, Balance Sheet, Income Statement, Profit & Loss Account, Cash Flow Statement, How they are generated, how to ensure its accuracy, How to report them
• Interpreting Balance Sheet & Income Statement, Preparation of yearly budget, budget reviews
• Understanding your company’s General Ledger System,
• Checks and balances in accounts posting, dual control, transaction verification, Access to the General Ledger System, High level transaction approval.
• Prepare the full sets of accounts for the company.
• Compliance to Malaysian Accounting Standard Board, and other International Accounting Standards Board.

Target Audience

• Managers, Executives, New officers, all employees of the company from Non-
• Financial /Accounting discipline
• Trainees officers/Interns in the company especially in the Non-Finance/Accounting discipline
• All new staff of the Accounts Department
• Employees of the company who has limited or NO knowledge on Accounting and Finance but wishes to acquire knowledge on Accounting and Finance

Methodology

The course will be conducted as an interactive session and course materials will be provided to all participants.  Group Project and Exercises will also be used in conducting this programme.  Module 3 and 4 will be conducted as a Workshop to effectively enforce understanding. 

Question and Answer sessions will be opened at the end of every module to enforce understanding and retention.  The speaker will also share his experiences on various issues relating to the topic of discussion to further enhance understanding of the issues.

The company’s full sets of Accounts will be used during training and exercises.

Course Modules

• Module 1:  Introduction to Accounting and Finance
• Module 2 :  Measuring and Reporting Financial Position
• Module 3 : Preparation and Interpreting the Balance Sheet and Profit & Loss Account , Depreciation, Stock Valuation, Bad and Doubtful Debts.
• Module 4 : Checks and Balances on Accounting reports, on Full sets of Accounts