Basic Accounting Principles & Practices

25-26 Feb, 2021, Webinar Classroom Training

IPA Training is Registered with

Venue Details

Webinar Classroom Training


Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

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

FOCUSING ON
  • Introduction to Accounting
  • Accounting Assumptions
  • Accounting Principles
  • Accounting Conventions
  • 5 Major Groups of Accounts
  • Accrual & Matching Concept
  • Double Entry System
  • A Full Set of Accounts Preparation:
  • Accounts and Trial Balance
  • Financial Statements
  • Books of Prime Entry & Business Documents
  • Accounting for Property, Plant & Equipment
  • Accounting for Important Reconciliations
  • Interpret, Review and Analyze Financial Statements
  • Financial & Ratio Analysis
  • Budgeting

    A Certificate of Completion with 7 hours CPD points will be awarded upon completion. 
OBJECTIVES
The primary objective of this 2-day online intensive course is to help professionals who have little or no knowledge in accounting and finance in understanding the basic rules of accounting and relevant practices in handling a full set of accounts as well as developing sound financial knowledge to read and understand financial statements for making business decisions. It is also intended to give exposure to participants on how budgeting fits into the strategic and financial management process in order to become more effective, all rounded professionals in their respective organizations.
AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Acquiring sound understanding on the basic accounting principles and their applications in the workplace.
  2. Having clear understanding on 5 major groups of accounts and its equation in making up the financial statements.
  3. Applying double entry system and procedure in recording business transactions.
  4. Learning how to prepare full set of accounts and trial balance.
  5. Learning how to prepare financial statements.
  6. Accounting for transactions and activities relating to Property, Plant & Equipment.
  7. Learning how to interpret, review and analyze financial statements.
  8. Improving interaction within organization through ability to tell a business story from the financial statements to secure support in achieving departmental objectives.
WHO SHOULD ATTEND
  • Accounts Clerks
  • Accounts Assistants
  • Accounts Supervisors
  • Office Administrators
  • Secretaries
  • Junior Accounts/Finance Executives
  • Non-Financial Executives
METHODOLOGY
  • Interactive Lectures
  • Individual & Group Activities
  • Case Studies & Group Discussions
  • Exercises
COURSE CONTENT
9:00

INTRODUCTION TO ACCOUNTING

  • Understanding Accounting
  • Purpose of Accounting and Its Importance
  • Differences between Accounting and Finance
  • Accounting Cycle
  • Value Cycle of a Business
10.00

ACCOUNTING ASSUMPTIONS, PRINCIPLES & CONVENTIONS

  • Separate Entity
  • Monetary Measurement
  • Going Concern
  • Time Period
  • Historical Cost
  • Matching
  • Revenue Recognition
  • Full Disclosure
  • Materiality
  • Cost Benefit
  • Conservatism
  • Industry Practice
11.00

ACCOUNTING PROCESS AND BASIC PROCEDURES

  • Accounting Process
  • Getting the Right Perspective
  • 5 Major Groups of Accounts
  • Accounting Equation
  • Accrual & Matching
  • Double Entry System
12.00

BOOKS OF PRIME ENTRY

  • Sales Journal
  • Purchases Journal
  • Cash Book
  • General Journal
 

BUSINESS DOCUMENTS

  • Source Documents
  • Non-source Documents
1:00 Lunch
2:00

PREPARING FULL SET OF ACCOUNTS AND TRIAL BALANCE

  • Accounting Typical Business Transactions
  • Prepare Accounts and Trial Balance
  • Adjusting Entries During Closing of Accounts
  • Methods to Identify Errors and Omissions through Trial Balance
  • Typical Year-End Adjustments & Exercise
3:30

PREPARING FINANCIAL STATEMENTS

  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
5:00 End of Day 1
DAY 2
9:00

ACCOUNTING FOR PROPERTY, PLANT & EQUIPMENT

  • Ascertainment of Acquisition Cost
  • Methods of Calculating Depreciation
  • Accounting for Depreciation Charges
  • Accounting for Gain or Loss on Disposal of Assets
  • Accounting for Revaluation and Impairment
10.30

ACCOUNTING FOR IMPORTANT RECONCILIATIONS

  • Bank Reconciliation
  • General Ledger to Sub-Ledger Reconciliation
11.30

INTERPRET AND ANALYZE FINANCIAL STATEMENTS

  • Interpreting Income Statement
  • Interpreting Balance Sheet
  • Telling a Business Story from the Financial Statements
1:00 Lunch
2:00

FINANCIAL & RATIO ANALYSIS

  • Trendline & Benchmarking
  • Activity Ratio
  • Profitability Ratio
  • Efficiency Ratio
  • Liquidity Ratio
  • Solvency Ratio
4.00

BUDGETING

  • Preparation of Budgets
  • Management of Budgets
  • Profit Forecasting Vs Cash Flow Forecasting
  • Budget Analysis
5:00 End of Course