Fast Closing Monthly & Year-End Accounts

16-17 Apr, 2018, Kuala Lumpur

FOCUSING ON
  • Understanding Fast Closing
  • Discussion on Fast Closing Burning Issues
  • Fast Closing Discussion
  • Fast Closing Contribution to The Organization’s Bottom Line
  • Discussion on Account Payable
  • Success Story of Fast Closing & Its Best Practices (Case Studies)
  • Improving the Finance Process
  • GST Fast Closing Accounting (Case Study)
  • Application – Steps in Closing Accounts
INTRODUCTION

In order to be effective in Fast Closing & year end accounts, you need to have the financial management skills to problem solving. This course will help to provide you with an environment that stimulates proactive behavior in order to achieve greater goals for yourselves and your organization. By creating financial value for your organization, you will be amazed at the speed of career advancement. Real-current financial issues & cases will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Mastering how to do Fast Closing Monthly & Year- End Accounts.
  2. Learning Critical Roles of the Finance Function.
  3. Redesigning your Finance Function.
  4. Implementing Process Improvement Project effectively.
  5. Redefining the Roles for Finance Managers.
WHO SHOULD ATTEND
  • Managers
  • Finance Managers
  • Business Managers
  • Supervisors
  • Bankers
  • Accountants
  • Entrepreneurs
  • CFOs
  • CEOs
METHODOLOGY
  • Interactive lectures
  • Group Discussions
  • Case Studies
  • Real-Current Financial Issues & Cases will be analyzed and scenario solutions will be discussed within the course

Special Feature: Participants Will Receive a Set of Practical Templates suitable for all sectors. These templates;

  • Ease in planning, reporting & decision making process
  • Snapshot of overall issues & problem
  • Financial modeling using goal seek strategies for cash flow, profit, sales target, budgeting & working capital requirements.
DAY 1
9:00 UNDERSTANDING FAST CLOSING
  • Fast closing definition
  • Benefits of fast closing
10.45 DISCUSSION ON FAST CLOSING BURNING ISSUES
  • Most work done manually - no system
  • Inadequate Document Flow
  • Miscommunication leading to different data report - budget issues
  • Unknown Transactions from historical data
  • Culture & Work Environment - no commitment
  • Slow info received from subsidiaries
  • System Migration - Data compilation during migration not yet complete
  • Uneven Workload
  • Outlets pass documents late
  • Interface of revenue from billing system to SAP
12.00 FAST CLOSING DISCUSSION
  • Discuss on how to shorter the month end closing
  • Discussion on systematic way of closing the accounts
  • How to do minimum adjustments to closing of accounts
  • Discuss ways to redesign a simple finance accounting cycle
  • How finance division can be more proactive in terms of budgeting, Forecasting & advisory role
  • Discuss ways to control & manage the cash flow
1:00 Lunch

2.00 FAST CLOSING CONTRIBUTION TO THE ORGANIZATION’S BOTTOM LINE
  • Asset conversion
  • Collection
  • Cost reduction
  • Revenues
  • Purchasing policy
3.45 DISCUSSION ON ACCOUNT PAYABLE
  • Timely payment due incomplete documents
  • Received invoices late from vendor/outlets
  • PO not stated on the invoice
  • Timely closing of AP/accruals
  • PO issued but invoice never reached AP.
  • Cancellation of PO was never informed.
  • Changes in price quoted was not informed
  • Invoices not issue/received
5:00 End Of Day 1
DAY 2
9:00 SUCCESS STORY OF FAST CLOSING & ITS BEST PRACTICES (CASE STUDIES)
  • Cisco’s Virtual Close
  • JC Penney Deploys Concur Expense on The Company Intranet
  • Case Corp (USA) Industry heavy equipment (construction), agricultural machinery
  • IBM (USA) multinational technology and consulting corporation, with headquarters in Armonk, New York.
  • Lord Corp (USA) Transportation: Automotive, Rail, Truck / Bus, Agriculture and Recreational and Marine. Aerospace and Defense: Commercial and Private Aircraft, Military Aircraft, Missile Systems and Tanks and Artillery. Manufacturing: Industrial Assembly and Process Industries.
  • Owens corning (USA) is the world’s largest manufacturer of fiberglass and related products
  • Ford (USA) The Ford Motor Company is an American multinational automaker headquartered in Dearborn, Michigan, a suburb of Detroit.
  • EDS (USA)Conferences & Training
10.45 IMPROVING THE FINANCE PROCESS
  • Remove non-value added work
  • Reduce the cost of required transaction processing
  • Eliminate errors that create costly rework
  • Employ technology to reduce the time, effort, cost, and complexity of finance work
  • Enhance input to strategic decision making and general business management
1:00 Lunch

2.00 GST FAST CLOSING ACCOUNTING (CASE STUDY)
  • Bad debt relief
  • Bad debt recovered
  • Credit Note
  • Debit Note
  • Deposit received
  • Reverse charge mechanism
  • Gift rule
3.45 APPLICATION – STEPS IN CLOSING ACCOUNTS
  • Starting Process
  • Fixed Assets
  • Hire Purchase / Term Loan Schedule
  • Company and Group Level of Profit & Loss Accounts
  • Project Accounts
  • Company & Group Level of Balance Sheet
  • Company & Group Level Cash Flow Statement
  • External Audit & Tax Matter
5:00 End Of Course

 

LEARN FROM THE BEST

Dr. Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD. in international finance with Rushmore University of USA.

 

Dr. Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years period.

 

He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination

 

Dr. Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd, Singapore, Lexis Nexis, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation, Asia Business Forum Pte Ltd, Hong Kong, Ministry of Development, Brunei, BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd, Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, SYNERGY RMS PTE LTD, India; UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK ; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd & VMAC Business Group (M) Sdn Bhd, China.

 

He is currently providing management consultancy and training specialising in GST, Forecasting , Fast Closing Monthly, Leadership, Strategic Planning, Budgeting, Accounting, Finance, Cost Reduction, Credit Management & Loan Recovery.

 

 

VENUE DETAILS

Dorsett Kuala Lumpur
172 Jalan Imbi
55100 Kuala Lumpur

Phone :03 2716 1000

 

IPA TRAINING IS REGISTERED WITH

 

CONTACT US

Juliany, 
O - 03 2283 6109,
M - 019 3134436
juliany@ipa.com.my 

Michelle, 
O - 03 2283 6100, 
M - 019 363 7822
michelle@ipa.com.my 

For Customised In-House Training
Yvonne,
O - 03 2283 6101, 
M - 012 2011247,

F - 03 2283 6108
 
yvonne@ipa.com.my
 

ADDRESS 

A-28-5, 28th Floor, 
Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my