Handling Full Set of Accounts for Accounting Personnel (Online Training)

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Course Objectives

  • Gain knowledge on how to do your business health check to stay healthy at all time.

Target Audience

  • Entrepreneurs,  Corporate / Departmental  Managers
  • Business Planners
  • Company Secretaries, Financial Controllers and Accountants
  • Executives and Supervisors
  • All other personnel who are interested in business continuity planning and management.

Methodology

This Live Online / Virtual Training session will be conducted via a Live Streaming Platform in which the trainer will use interactive lecture and slide presentation to cover the modules stated below.

Course Modules

  • Session 1: Purpose of Accounting and Transaction Processing 
    – Types of Companies – Sole Proprietor, PLTs, Private Company, Public company, Listed and Not Listed.
    – What is Holding company, Ultimate Holding company, subsidiary company, sub-subsidiary company, Associate Company and Related Company
    – What is Accounting, Book-Keeping, Transactions and an Account?
    – Accounting concepts, cycles and equations
    – Matching concepts in timing and operational control.
    – What Accounting standards to used – MFRS or MPERS.
    – Main grouping of accounts
    – Users and benefits of accounting information.
    – Transaction Processing Framework
    – Transactional documentation processing for sales, purchase, sales and purchase returns.
      – Document Matching,
      – What document to match?
      – Checking and approving,
      – Account coding, posting and following up trail
  • Session 2: Familiarization of daily key accounting terms 
    – Grouping of Accounts
    – Distinction with examples between:
      – Revenue and Cost
      – Operating and Capital expenditure
    – Distinction with examples between:
      – Non-Current, and
      – Current Assets
    – Distinction with examples between:
      – Non-Current Liabilities
      – Current Liabilities
    – Know the real meaning of Property, Plant and Equipment
    – Definition of Intangible assets and when can it arise
    – What is Biological assets
    – What is Right of use assets
    – Depreciation, Amortization non-current (fixed) and intangible assets
    – Asset impairment.
  • Session 3: Double Entry Accounting Systems 
    – Roles and rules of double entry accounting system
    – Chart of Accounts – Mother rule of all postings
    – Various Books of Account – Gen. Ledger, Purchase Ledger, Sales Ledger, Journals, Cash books, Petty Cash Book, Fixed Assets Register, etc.
    – Accounting double entries for Assets, Liabilities, Revenue, Expenditure and Capital.
    – Double entries for non-current (fixed) assets disposals
    – Journal entries for correction of errors.
    – Double entries for deemed supply treatment for Sales and Service Tax under:
      – Payback of sales tax exemptions given earlier
      – Free goods and services
      – Service tax for Imported taxable services
      – Claiming service tax refund of digital tax incurred for resales.
      – Bad debt recovery
      – Upon deregistration of taxable service provider
      – Withholding tax payment

  • Session 4: Cost Accounting Concept and Month End Closing Adjustments
    – What is direct and indirect cost?
    – What is fixed and variable cost?
    – Meaning of cost driver.
    – Different type of costings in practice – process, batch, job, projects
    – Difference between absorption and marginal costing
    – Breakeven Analysis.
    – Journal Double entries for monthly adjustments such as prepayments, accruals and provisions including provision for assets depreciation and amortizations
    – Where necessary – provisions for bad and doubtful debts, provision for stock obsolesces and provision for impairments.
    – Extraction of Trial Balance and Financial Statements for financial performance analysis:
      – Statement of Income (Profit and Loss Account)
      – Statement of Financial Position (Balance Sheet)
      – Statement of Cash flow.
    – Cost of Sales calculation
      – Goods and Materials costing
      – Labour cost
      – Overhead cost.
  • Session 5a: Bank and other Reconciliation Statements AND Petty Cash Management
    – Accounts that need to reconcile:
      – Every Bank Account
      – Every intercompany and related companies account
      – Major Creditors account
    – Process of preparing the reconciliation statement
    – Identified the difference between your record of their accounts and their record of your accounts – their statement of account.
     – Investigate the cause of the difference and then:
       – Adjust your records (books of account)
       – Inform the other party to correct their account if it is their mistake.
    – Bank Reconciliation:
    – Work out the adjusted cash book balance first
      – Then reconcile the difference.
      – Starting point – can be from your adjusted cash book balance or from bank statement balance.
  • Session 5b: Petty Cash Management
    – Difference between Cash Book and Petty Cash Book.
    – Imprest system of petty cash management
    – Petty cash record maintenance and payment policy and procedures
    – Petty cash transaction processing
    – Petty Cash reimbursement – when and how?
    – Posting of petty cash records to general ledger
    – Petty cash control and monitoring against abuse and fraud.

  • Session 6: Reading and Understanding of Financial Statements
    – Minimum information to be shown in the Financial Statement:
      – Statement of Profit and Loss
       – Expense classification – by function or by nature
       – How to identify by a layman
     – Other Comprehensive Income
     – Statement of Financial Position
       – Presentation – Current & Non-Current
       – Treatment of major repair or part change
       – Understand Biological Assets
       – Understand what is Right of Use Assets (RUA) from operating lease
       – Understand what is Deferred Tax.
     – Statement of Cash Flow
       – Presentation – Direct or Indirect 
       – How to identify.
       – Breakdown into from Operating, Investing and Financing Activities
      – Statement of Change in Equity.
    – Various Qualitative information that needs to be shown in the Financial Statement
    – Understand the different Audit Opinions
  • Session 7: Financial Statement Analysis for managing performance
    – Horizontal and vertical analysis
    – Application of Accounting ratios to determine:
      – Profitability (returns on Sales, Assets Invested, Equity, Investments).
      – Liquidity and Solvency
      – Overtrading – interpretation and its effect on Liquidity and Solvency
      – Statutory Requirement for solvency determination under CA2016
      – Operation Efficiencies
      – Company Stability
    – Cash Flow statement Analysis for various cash ratios on cash generating performance.
    – Limitation on the usage or ratios

  • Session 8: Budgetary Control – Variance Analysis between actual and budget
    – Detail Sales Variance analysis matrix
      – Price
      – Volume – mixed and quantity
    – Detail operating expenses analysis matrix
    – Manufacturing material variance analysis
    – Usage and Price
      – Mix and Yield
    – Production Labour Variance analysis
      – Hour usage
      – Rate
      – Idle time
    – Overhead variance analysis
      – Usage
      – Absorption
    – Variance analysis contribution to business performance.


Get To Know The Trainer

Trainer Tan KT

Trainer Tan KT

 

Tan has 40 years of working experience in financial, strategic and general management field. He has held a variety of leadership and senior management roles in various organizations, the last being Group Chief Executive Officer. More than half of these time are spend in the Manufacturing, Marketing & Distribution and Services organizations.

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FREE QUOTATION!

COURSE INCLUDES

  • 16 hours ( 4 hrs x 4 days) of Live Online / Virtual Training * Per Session @ 2 hrs
  • E-WorkBook
  • E-Cert

COURSE BENEFITS

  • 30 Days of Email / WhatsApp Support​
  • 1 - 15pax
  • Confirmed-to-run even for 1 pax
  • HRDF Certified & Claimable

ALL IN FROM ONLY

RM2,670/DAY

RRP RM3,820/DAY   SAVE RM1,150

*T&C Applies

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