Financial Accounting & Fast Closing

25 May, 2021, Webinar Classroom Training

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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 , 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, 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.

 

He is currently providing management consultancy and training specializing in Fast closing monthly, leadership, Strategic Planning, Sales Management, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.

Venue Details

Webinar Classroom Training

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
  • Module 1: Managing P&L & Cash Flow (Simulation Exercise)
  • Module 2: Improve Cash Flow & Profitability Position (Practical Case Study)
  • Module 3: Recording And Analysing Business Transactions
  • Module 4: Preparation Of Final Accounts
  • Module 5: Understanding Fast Closing
  • Module 6: Fast Closing Contribution To The Organization’s Bottom Line
OBJECTIVES

The primary goal of this course is to help professionals who have knowledge in finance and accounting in developing sound financial knowledge to read and understand financial reports.

 

Participants are required to prepare a full set of accounts i.e. preparation of journals, posting to ledger, preparation of trial balance, prepare month-end adjustments, prepare income statement and balance sheet.

 

This course will help you to close the accounts faster & be more effective.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Preparing A Full Set Of Accounts I.E. Preparation Of Journals, Posting To Ledger, Preparation Of Trial Balance, Prepare Month-End Adjustments, Prepare Income Statement And Balance Sheet.
  2. Knowing How To Read Profit & Loss Statement.
  3. Using Profit And Loss Statement To Evaluate Performance.
  4. Understanding The Relationship Between Cash Flow Statement And Balance Sheet.
  5. Implementing Process Improvement Project.
  6. Redefining The Role For Finance Managers.
WHAT YOUR COLLEAGUES ARE SAYING ABOUT THE COURSE…
  • “This course gives me better understanding about accounting & financial analysis as a preparation when public sectors start using accrual accounting in 2015.” Internal Audit Division, Ministry of Finance
  • “I now understand the following better: Understanding the balance sheet, know how to identify the profitable company/projects, understanding more on problem solving tools, more input for decision making process.” Treasury, Sabah Malaysia, Ministry of Finance
  • “Knowledge gained from this course has opened my eyes towards the intricacies of finance in private sector and maybe contribute back this knowledge to the government.” Aizwan bin Anuar, Housing Loan Division, Ministry of Finance
  • “This course has assisted me in analysing financial statements better. Discussions using case studies have helped us to better understand & relate to our day to day tasks. My favourite session was the financial statements preparation & problem solving on burning issues.” Nurhidayah binti Lamien, Tax Division, Ministry of Finance
  • The greatest improvement after the 2-days program is the exercises on “Completing the accounting cycle & Closing account.” Assistant Account Manager
  • “Case studies most beneficial to me are “how to manage the account & the Burning issues in fast closing.”
    Finance Manager.
  • “What impresses me most from Dr Steven is the “Solution in solving accounting problem & also the Finance strategy that he shared.” Account Supervisor.
WHO SHOULD ATTEND
Accounts Executive, Senior Account Executives, Supervisors, Account Assistants and All Professionals who are interested in Basic Accounting.
METHODOLOGY

Case Study & Group Discussion. Real-Current 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
COURSE CONTENT
9:00

MODULE 1: MANAGING P&L & CASH FLOW (SIMULATION EXERCISE)
Objective:

  • With Little Or Zero Accounting Knowledge, Will Walk You Through Your Business Or New Business On Sales, Purchases, Operating Expenses, Investment, Capital Injection, Depreciation & Interest Payment
  • You See Your Own P&L, Balance Sheet, Cash Flow & Equity
  • Provide Strategies (Using Goal Seek) To Improve Your Cash Flow & P&L Position
10.45

MODULE 2: IMPROVE CASH FLOW & PROFITABILITY POSITION (PRACTICAL CASE STUDY)
Objective:
Use Financial Tools Of Goal Seek & Solver To Meet Management Target Of Sales, Profit & Cash Flow Position

  • Applying What If Analysis (Goal Seek & Solver)
  • Applying Profitability Strategy Management Framework
    - Formulation Stage
    - Execution Stage
    - Evaluation Stage
12.00

MODULE 3: RECORDING AND ANALYSING BUSINESS TRANSACTIONS

  • Understanding Main Books Of Accounting System For Any Type Of Business Operations
  • Journal, Ledger And Source Documents
  • Ensuring Relevant Supporting Documents For Accounting Transactions
  • Books Of Original Entries – Types Of Journals And Cash Book
  • Ledger System – General Ledgers, Subsidiary Ledgers – Posting Into Ledgers
  • Proper Classification Of Expenses To Avoid Problems With Tax Authorities
1:00 Lunch
2:00

MODULE 4: PREPARATION OF FINAL ACCOUNTS

  • Balancing Accounts And Preparing Trial Balance To Ensure Accuracy Of Double Entry System
  • Detectable / Non-Detectable Errors
  • Trading Accounts / Profit & Loss Accounts / The Financial Position
  • Final Accounts With Adjustment
  • The Closures Of Books And Transfer Of Balances To Next Financial Year
  • Dealing With Bad / Doubtful Debts / Provisions, etc.
 

MODULE 5: UNDERSTANDING FAST CLOSING

  • Fast Closing Definition
  • Closing Schedule
3:45 MODULE 6: FAST CLOSING CONTRIBUTION TO THE ORGANIZATION’S BOTTOM LINE
  • Asset Conversion
  • Collection
  • Cost Reduction
  • Revenues
  • Purchasing Policy
5:00 End of Course