Improving Your Accounting & Financial Skills

20-21 Nov, 2017, Vistana Kuala Lumpur

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MR. S. GOBINATHAN, FCCA (UK), MBA (USA), a UK qualified accountant has an extensive professional finance career, spanning over 30 years with BP the leading global oil & gas company and Bristol-Myers Squibb a Fortune 500 US based global pharmaceutical company. His career with BP and Bristol-Myers Squibb has taken him to various countries such as Indonesia, Vietnam and more recently Australia. In 2006 here-located to Melbourne Australia and worked for BP Australia for 2 years before setting up his own accounting and management consultancy business there.

 

Throughout his working career, Mr. Gobi has held Finance Controller and Finance Director responsibilities for a wide range prof finance related functions including Financial Control, Budgetary Control, Corporate Reporting, Cash Flow Management, Investment Appraisal, Project Commercials, Internal Auditing and Management Information.

 

Mr. Gobi has much experience in critically analyzing financial performances, verifying and validating new investments decisions, monitoring budget variances, business risk management and corporate finance. In this course Mr. Gobi would like to share with participants his experience on how Finance professionals in today’s world can move up the corporate ladder by increasing their competency levels by improving their Financial Accounting skills.

 

Mr. Gobi is an experienced and well received trainer, having run training courses, both public and in-house, for over 10 years in Malaysia and abroad in various finance areas.

Venue Details

Vistana Kuala Lumpur
9 Jalan Lumut Off Jalan Ipoh 50400 Kuala Lumpur,
Phone : 03 4042 8000

Click For Hotel Location

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@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

FOCUSING ON
  • Introduction to Accounting
  • Accounting Adjustments Prior To Finalizing Accounts (closing)
  • The Process Of Finalizing Accounts
  • Importance Of Control Accounts And Reconciliations
  • Understanding, Interpreting And Analyzing The 3 Financial Statements
  • Importance Of Budgets And Variance Tracking
  • Understanding Working Capital And The Cash Flow Cycle
  • GST – Explanation Of The Correct Accounting Entries
OBJECTIVE

The objective of the 2 Day course is to enhance and upskill Accounting staff, particularly the junior and new staff on their practical day-to-day accounting skills.

 

With the extensive use of advanced Accounting Softwares, most Accounting staff are not really aware of the double entries and the control steps that take place in the background. As a result staff would not be able to analyze accounts, detect errors or even review the accuracy of their work.

 

Aspiring and ambitious staff would need to understand the entire Accounting cycle in order to enhance their career prospects. The course is very extensive, it starts off with a refresher of the Accounting double entry concept and then covers the special accounting adjustments and the accounting close cycle.

 

Next part of the course is understanding the key controls aspects of accounting i.e. the use of Control Accounts and the various reconciliations required. As a step up from Accounting, participants will be taught how to perform simple interpretation and analyzing financial statements, using Ratio analysis. Budgeting is an important function of any company; the course will cover the basic principles of preparing budgets, variance analysis and reporting. Cash Flow is increasingly important to all businesses. Understanding the components and how working capital management is managed is crucial, therefore the next module focuses on this.

 

To round off the course, Accounting entries for GST is included. Since GST was introduced in April 2105, there has been a lot of complexities especially use of the Accounting Software and the Kastam’s codes.

WHO SHOULD ATTEND
  • Accounts Supervisors, Accounts Assistants, Accounts Officers, Accounts Clerks.
  • Junior Finance Executives.
  • Newly qualified Finance Professionals starting their career.
  • Newly promoted Finance Managers or Controllers of small/ medium sized companies.
  • Non-Finance Professionals intending to enhance their knowledge on Finance.
METHODOLOGY

Interactive Lectures, Exercises, Case Studies, Discussion and Q &A Session

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Being refreshed on the basic concepts of accounting and the double entry system.
  2. Knowing the Accounting adjustments required to accurately close off the accounts.
  3. Understanding the purpose of control accounts and the various reconciliations.
  4. Understanding and analyzing the key financial statements using Ratio Analysis.
  5. Learning the techniques on how to prepare budgets and variance reporting.
  6. How to understand the working capital and cash flow cycle of your company.
  7. Overview of how GST Accounting entries are done in accounting softwares including correction of errors.
DAY 1
9:00 INTRODUCTION TO ACCOUNTING
  • Refresher on the origins and practicality of the double entry principle.
  • Accounting concepts.
  • Difference between accounting and management reporting.
  • The Asset/Liability and Shareholder Funds equation.
  • Types of companies and the accounting impact.
10:45 ACCOUNTING ADJUSTMENTS PRIOR TO FINALIZING ACCOUNTS (CLOSING)
  • Why we need the special adjustments to finalize and before closing the accounts.
  • Accruals and Pre-payments
  • Depreciation and Fixed Assets adjustments
  • Inter-Company balancing.
  • Clearing suspense Accounts
  • Bad Debts Provisions.
1:00 Lunch

2:00

THE PROCESS OF FINALIZING ACCOUNTS

  • Preparing the Trial Balance
  • Posting of Ledger balances to the Income Statement and Balance Sheet.
  • Preparing the Cash Flow Statement
  • Verifying the Retained Earnings and Equity balances.
3:45 IMPORTANCE OF CONTROL ACCOUNTS AND RECONCILIATIONS
  • Issues frequently faced in Sub Ledgers and Control Accounts.
  • Importance of Accounts Receivable (AR) and Accounts Payable (AP) reconciliations
  • Bank Reconciliations.
  • Stock Reconciliation
  • Sales Control Accounts and Reconciliation to Stock.
  • Payroll Reconciliations.
5:00 End of Day 1
DAY 2
9:00 UNDERSTANDING, INTERPRETING AND ANALYZING THE 3 FINANCIAL STATEMENTS
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Use of Ratio Analysis to interpret and analyze the financial statements.

    Class Exercises on simple accounting analysis and interpretation financial reports.
10:45 IMPORTANCE OF BUDGETS AND VARIANCE TRACKING
  • Benefits of Budgets and its purpose as a Management Tool
  • Budgeting methods – selecting the appropriate method for your business
  • Variance Analysis – getting into the root cause.
  • Handling and reporting variance situations.
  • Preparing a Cash Budget.
1:00 Lunch

2:00 UNDERSTANDING WORKING CAPITAL AND THE CASH FLOW CYCLE
  • Understanding the operating cash flow cycle of a business.
  • Common reasons how unfavorable cash flows can destroy businesses.
  • Accounts Receivable.
  • Accounts Payable.
  • Stock.
3.45 GST – EXPLANATION OF THE CORRECT ACCOUNTING ENTRIES
  • Explanation of the 3 GST categories – Standard Rate, Zero Rate and Exempt Rate and the Accounting entries.
  • Accounting entries to record the basic GST Output and Input transactions using the Accounting Software.
  • The Accounting double entries to record the complex GST transactions such as Deemed Supply, Bad Debt Relief, Capital Goods Adjustment, Blocked Input Tax.
  • Accounting entries to correct GST mistakes.
  • The various GST Reconciliations required to ensure GST accuracy.
5:00 End of Course