Practical Bookkeeping & Accounting Skills

12-13 Nov, 2018, Kuala Lumpur

FOCUSING ON
  • Introduction To Bookkeeping
  • Source Documents – Important Factor in Bookkeeping
  • Special Adjustments Required For Completing The Accounts
  • Fixed Assets Accounting And Depreciation
  • Drawing Up The Full Set Of Books From Ledgers
  • Explanation Of The Important Reconciliations In Accounting
  • Understanding And Simple Interpretation Of The 3 Financial Statements
  • Transition Of GST To Sales And Services Tax (SST)
OBJECTIVE

This 2 Day course is targeted at accounting staff especially those junior staff who are involved in day to day basic bookkeeping and accounting recording. Despite having academic qualifications, most staff would not fully understand the basics of “double entry” system especially when they are doing their work using accounting softwares. The accounting softwares are so highly automated to the extent of staff not knowing the “double entries” behind each transaction.

 

The course will not only cover the basic bookkeeping and accounting transactions but also train staff to complete a full set of books, doing special adjustments and perform the necessary reconciliations.

 

To increase their accounting knowledge a session covering simple financial analytical and interpretation skills, which will help participants better understand their job functions, from a larger ”picture” perspective.

 

Finally, there will be a session on the planned 01 June 2018 transition of GST over to Sales and Service Tax (SST), especially the accounting software changes.

 

Knowing fully well that this 2 Day course cannot achieve its objectives purely on theoretical training, we have included 4 practical “real life” class exercises throughout the course.


AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding the origins of bookkeeping, the double entry system, the difference between accounting and the use of “T” accounts and ledgers.
  2. Understanding the importance of the correct source documents and the trail in an accounting software environment.
  3. Knowing the special adjustments required to have a complete set of transactions.
  4. Knowing Fixed Asset Accounting, Depreciation and Disposals Gain/Loss methods.
  5. Completing a full set of accounts from the Trial Balance.
  6. Knowing how to prepare the various important reconciliations and find solutions for outstanding items.
  7. Understanding and analyzing key financial statements to improve your accounting knowledge.
  8. Transition of GST to Sales and Services Tax (SST).
WHO SHOULD ATTEND?
  • Accounts Clerks
  • Secretaries
  • Administrative Assistants
  • Non-Financial Executives
  • Office Administrators
  • New Accounting Personnel with no formal training in accounting
METHODOLOGY
  • Interactive Lectures, Exercises, Case Studies, Discussion and Q & A Session.
DAY 1
9:00 INTRODUCTION TO BOOKKEEPING
  • The origins of Bookkeeping and the difference between Accounting.
  • Explanation of the double entry process and how it became the foundation of the entire bookkeeping and accounting system.
  • Why we use of “T“ accounts and Ledgers to record transactions.
  • Explanation of The Asset/Liability and Shareholder Funds equation.
  • Accounting concepts and examples of accounting transactions related to the concepts.
CLASS EXERCISE ON DOUBLE ENTRIES USING THE ASSET / LIABILITY / SHAREHOLDER FUND EQUATION
10:45 SOURCE DOCUMENTS - IMPORTANT FACTOR IN BOOKKEEPING
  • What are source documents and the importance to Bookkeeping?
  • Review of documents used for the various transactions.
  • Source documents trail in your Accounting Software.
1:00 Lunch

2:00

SPECIAL ADJUSTMENTS REQUIRED FOR COMPLETING THE ACCOUNTS

  • Bad Debts Write off and Provisions
  • Accruals
  • Prepayments
  • Provisions
  • Prepaid Income
3:45 FIXED ASSETS ACCOUNTING AND DEPRECIATION
  • Explanation of what is Fixed Assets and the difference between normal expenses.
  • Accounting entries to record purchases and the importance of maintaining a Fixed Asset Register.
  • Depreciation: what it really means and the accounting entries.
  • Accounting treatment of Fixed Asset Disposals and calculation of Gain or Loss.
5:00 End of Day 1
DAY 2
9:00 DRAWING UP THE FULL SET OF BOOKS FROM LEDGERS
  • Posting of Ledger Balances to the Trial Balance
  • Preparing the Profit & Loss A/C and Balance Sheet
  • Why we have Gross Margin and Net Margin breakdown in the Profit & Loss A/C
  • Explanation of all the items classification in the Balance Sheet.
  • Cash Flow Statement: how it is calculated.
  • How all the Financial Statements are connected?
CLASS EXERCISE – PREPARING THE FINAL ACCOUNTS FROM THE TRIAL BALANCE INCLUDING SPECIAL ADJUSTMENTS
10:45 EXPLANATION OF THE IMPORTANT RECONCILIATIONS IN ACCOUNTING
  • Purpose of Sub Ledgers
  • Bank Reconciliation
  • Accounts Receivable (AR) and Accounts Payable (AP) reconciliations
  • Stock Reconciliation
  • Fixed Assets Register Reconciliation
  • Sales Reconciliation
PROBLEMS SOLVING EXERCISE ON VARIOUS SITUATIONS DISCOVERED DURING RECONCILIATIONS
1:00 Lunch

2:00 UNDERSTANDING AND SIMPLE INTERPRETRATION OF THE 3 FINANCIAL
STATEMENTS
  • Use of Ratio analysis to do basic and simple analysis of Sales, Expenses, Profitability, Balance Sheet and Cash Flow.

CLASS EXERCISES ON SIMPLE ACCOUNTING ANALYSIS AND INTERPRETATION FINANCIAL REPORTS.

3:45 TRANSITION OF GST TO SALES AND SERVICES TAX (SST)
  • The basic principles of Sales and Service Tax
  • The Accounting double entries to record the basic SST transactions compared to GST.
  • How SST entries are captured in the Income Statement and Balance Sheet.
  • Reconciliations required to ensure SST accuracy.
5:00 End of Course

 

LEARN FROM THE BEST

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 of 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 analysing 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
- 50400
Phone :(603) 4042 8000

 

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