Re-Sharpening of Accounting Skills for Accounting Staff

22-23 Aug, 2022, AC Hotel By Marriott Kuala Lumpur (Formerly known as Vistana Kuala Lumpur)

IPA Training is Registered with

Learn from the Best

TAN KOK TEE
DBA, MBA-Finance, FAIA, MIPA, MCCS, ACTIM,
International Accountant (UK),
Public Accountant (Aust.)
Certified Company Secretary.
HRDF Certified Trainer
Registered GST Agent.

 

MR. TAN KOK TEE has 40 years of working experience in Accounts & Financial, Strategic and General Management field. He has held a variety of leadership and senior management roles in various organizations, starting in the Accounts & Finance
Department until CFO level and the last being Group Chief Executive Officer. More than half of these times were spent in the Manufacturing, Marketing & Distribution and Services organizations.

 

He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants,
Aust.; Certified Commercial Accountant, (M); Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia
Associations of Company Secretaries (M) and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s (HRDF) Train The Trainer Certificate since 2009, a GST Agent registered with MOF & Holder of the GST MyGCAP certificate from RMCD and a Life Member of the Malaysian Institute of Directors.

 

Mr. Tan has been involved in Advisory, Training and Facilitation since beginning 2009. To-date he has conducted about 400
training workshops throughout Malaysia on topics on Budgeting & Cashflow Planning; GST; SST; Practical Accounting for
Accounting Staffs; Reading, Analysing and Interpreting Financial Statement; Accounting and Finance for Non-Finance Managers; Customers Credit Evaluations and Collection Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the
Strategic Planning and Management and Financial Statement Hands On Application to MBRS, for both in-house as well as public.

 

Among the organizations that Tan Kok Tee has been providing training for, include Government Authorities, Chamber of
Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management
Accountants, CPA Australia, Malaysian Institute of Chartered Secretaries and Administrators, Selangor State Human Resource Development Centre (SHRDC), Negeri Sembilan State Skills Development Centre (NSSDC), Penang Skill Development Centre (PSDC), NGOs and many others public training providers.

 

His other clients include Shin Yang Group, MIRI, Bintulu Port, Deleum Bhd., Boustead Plantation Bhd., Takahata, FBK
Manufacturing, Brothers Industries, Integrated Logistics, Mega Logistics, Chung Hwa Picture Tubes, Ohara Melaka, Safran
Aerospace, NEC Corp. of Malaysia, Kobe Precisions, Tecktronic & Sons Holdings, Julie’s Biscuits, Ornapaper Melaka, Sunway
University, Sime Darby Properties, Lion Group and many more.

 

To-date Mr. Tan has trained more than 15,000 Executives. He combines a wide range of practical and hands-on training
experience in lively and challenging interactive training sessions.

Venue Details

AC Hotel By Marriott Kuala Lumpur (Formerly known as Vistana Kuala Lumpur)
9 JALAN LUMUT OFF JALAN IPOH,, KUALA LUMPUR, MALAYSIA, 50400,
Fax : 0 3-40428000

https://www.marriott.com/en-us/hotels/kulka-ac-hotel-kuala-lumpur/overview/?scid=45f93f1b-bd77-45c9-8dab-83b6a417f6fe&y_source=1_ MTQ2NDU5MDEtNDgzLWxvY 2F0aW9uLndlYnNpdGU%3D

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Phoebe,
M - 019 363 7822
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
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

FOCUSING ON
  • Purpose of Accounting
  • Familiarization of daily Key Accounting Terms
  • Daily Transactions Processing
  • Double Entry Accounting Systems
  • Month and Year End Closing Adjustments
  • Types of Schedules requirements to support
  • Monthly Accounts and Annual Audit and Tax Computations  
  • Bank Reconciliation and Petty Cash Control System
  • Preparation and Understanding of Financial Statements
  • Financial Analysis Business Performance from Financial Statements
  • Budgetary Control – Variance Analysis Between Actual and Budget
  • Interpreting the Financial Analysis and Budgetary Control for Improvement Recommendation.
INTRODUCTION

Accounting has always been recognized as a very key function in any organization. It provides the basis for information reports to be generated from these accounting records to help managers to make a more informed and effective decisions to increase their organizational performance.

Accounting will forever be an extreme asset and vital aspects to one’s career and organization success. It is a “NEED TO KNOW” subject matter.

With the introduction of SST after the GST, accounting transactions of Registered Manufacturers and Service Tax Registered Person has this SST element and need to be treated with care in their reporting to Customs.

ALL Non-SST register organization may also need to know that SST on imported services also applies to them and they also need to file returns to the customs.

Hence this Practical Accounting Skill training course incorporating Essential SST Accounting matters such as Coding and Mapping forms and important part ranging from their daily Accounting work to the filing of returns.

Hence this course will help all Accounting Personnel to increase their effectiveness in their daily Accounting Work.

COURSE LEARNING OUTCOME (CLO)
  1. Comprehend the various Accounting Concepts, Standards, Equations and key Accounting Terms in its Financial Statemements.
  2. Distinguish Accounting treatment capability for all daily business transactions and its Accounting Double Entries
  3. Proceed to do Accounting ratio analysis to interpret financial statements.
  4. Explain financial health of the organisation.
  5. Report Financial analysis monthly to stakeholders and management for their corrective actions.
  6. Adapt The Learned Accounting Skills To Generate A Healthier Financial Performance.
WHO SHOULD ATTEND
  • Accountants / Fresh Accountants / Accounting Graduates,
  • Junior Accounts Executives & Accounts Supervisors,
  • Accounts and Administrative Assistants,
  • Bookkeepers & Accounts Clerks
  • All other persons who are involved in and/or interested to enhance their practical accounting skills to support their business operations.

As this is a training course, participants besides attending lectures are also required to work individually, together in pairs and groups on hands on exercises to recap the learnings together . Hence a Calculator is required. Participants are also encouraged to bring their real working questions for discussions.

METHODOLOGY
  • Interactive Lectures
  • Individual Assignments
  • Hands-on Exercises
  • Quiz
  • Discussions
  • Q & A
DAY 1
9:00

PURPOSE OF ACCOUNTING

  • What is Accounting, Book-Keeping, Transactions and an Account?
  • Accounting concepts, cycles and equations
  • Matching concepts in timing and operational control.
  • Accounting standards in used.
  • Main grouping of accounts
  • Users and benefits of accounting information.


10.45

FAMILIARIZATION OF DAILY KEY ACCOUNTING TERMS

  • Grouping of Accounts
  • Distinction with examples between:
    - Revenue and other income
    - Revenue expenditure and Capital expenditure
    - EBITDA – its usefulness and calculations
  • Distinction with examples between:
    - Non-Current, and Current Assets
  • Distinction with examples between:
    - Non-Current Liabilities and Current Liabilities
  • Meaning of Property, Plant and Equipment verses Investment properties
  • Major Component Costing method for PPE
  • Definition of Intangible assets and when can it arise
  • What are Biological assets
  • What is Right of use assets
  • What are contingent assets and contingent liabilities.
  • Assets Depreciation, Amortization, Impairment and Appreciation (capital reserve)

 

12.00

DAILY TRANSACTIONS PROCESSING

  • Transaction Processing Framework
  • Transactional documentation processing for sales, purchase, sales and purchase returns.
    - Matching Concepts – Timing and Documentations,
    - What document to match?
    - Checking and approving,
    - Account coding, posting and following up trail

 

1:00 Lunch
2:00

 DOUBLE ENTRY ACCOUNTING SYSTEMS

  • Roles and rules of double entry accounting system
  • Chart of Accounts – Mother rule of all postings
  • Various Books of Account – Gen. Ledger, Purchase Ledger, Sales Ledger, Journals, Cash books, Petty Cash Book, Fixed Assets Register, etc.
  • Accounting double entries for Assets, Liabilities, Revenue, Expenditure and Capital.
  • Double entries for non-current assets disposals
  • Journal entries for correction of errors.
  • Double entries for selected Sales and Service Tax under:
    - Payback of sales tax exemptions given earlier
    - Free goods and services
    - Service tax for Imported taxable services
    - Claiming service tax refund of digital tax incurred for resales.
    - Bad debt relief and its subsequent recovery
    - Upon deregistration of taxable service provider
    - Withholding tax:
    Absorbed by payee
    Absorbed by payer
  • Calculation and double entries for Right of Use Assets and its double entries for lessee and lessor.
  • Double entries on Hire Purchase and its single effective interest calculation.

 

3:45

MONTH AND YEAR END CLOSING ADJUSTMENTS

  • Journal Double entries for monthly adjustments such as prepayments, accruals and provisions for expenses, assets depreciation and amortizations.
  • Provisions for bad and doubtful debts, provision for stock obsolesces and provision for asset impairment.
  • Treatment of non-payable expense provisions
  • Extraction of Trial Balance and Financial Statements for financial performance analysis:
    - Statement of Income (Profit and Loss Account)
    - Statement of Other Comprehensive Income
    - Statement of Financial Position (Balance Sheet)
    - Statement of Cash flow.
  • Closing Stocks Valuations
  • Cost of Sales Calculation

 

 

TYPES OF SCHEDULES REQUIREMENTS TO SUPPORT MONTHLY ACCOUNTS AND ANNUAL AUDIT AND TAX COMPUTATIONS

  • Monthly Accounts
  • Annual Accounts

 

5:00 End of Day 1
DAY 2
9:00

BANK RECONCILIATION AND PETTY CASH CONTROL SYSTEM

  • Accounts that need to reconcile:
    - Every Bank Account
    - Every intercompany and related companies’ account
    - Creditors account
    - Customers account
  • Process of preparing the reconciliation statement
    - Identified the difference between your record of their accounts and their record of your accounts – their statement of account.
    - Investigate the cause of the difference and then:
    Adjust your records (books of account)
    ? Inform the other party to correct their account if it is their mistake.
  • Bank Reconciliation:
    - The 2 methods:
    Adjusted Cash Balance method, that involved 2 steps.
    Direct method.
    - Starting point – can be from cash book balance or from bank statement balance.
  • Petty Cash Control:
    - Imprest System management
    - Payment policy and procedures
    - Record maintenance
    - Reimbursement management
    - Posting to General Ledger
    - Fraud and abuse control.


10.45

PREPARATION AND UNDERSTANDING OF FINANCIAL STATEMENTS

  • Minimum information to be shown in the Financial Statement:
    - Statement of Profit and Loss
    Operating Expense classifications
    - Other Comprehensive Income components
    - Statement of Financial Position
    Presentation – Current & Non-Current OR order of Liquidity
    Treatment of major part change to PPE under component costing method.
    Treatment of Bearer Plants and Specific Living Animals in assets
    Understand what is Deferred Tax Assets and Deferred Tax Liabilities.
    - Statement of Cash Flow
    Presentation – Direct or Indirect (How to identify).
    Cash Flow from Operating, Investing & Financing Activities with examples
    Reading cash flow statement make easy.
    - Statement of Change in Equity.
  • Various Qualitative information that needs to be shown in the Financial Statement
  • Understand the different Audit Opinions

 

12.00

FINANCIAL ANALYSIS BUSINESS PERFORMANCE FROM FINANCIAL STATEMENTS

  • Application of Financial / Accounting ratios:
    - Profitability (returns on Sales, Assets Invested, Equity, Investments).
    - Liquidity
    - Actual meaning of over trading and its calculation
    - Efficiencies
    - Stability
  • Common cash ratios

 

1:00 Lunch
2:00

BUDGETARY CONTROL – VARIANCE ANALYSIS BETWEEN ACTUAL AND BUDGET

  • Sales Variance analysis matrix
    - Price
    - Volume
    Value mixed, and
    Quantity mixed
  • Operating expenses analysis matrix
  • Manufacturing material variance analysis
    - Usage and Price
    - Mix and Yield
  • Production Labour Variance analysis
    - Hour usage
    - Rate
    - Idle time
  • Overhead variance analysis
    - Direct overhead
    - Indirect overhead
  • Variance analysis contribution to business performance.
  • Factors that give rise to variances

 

3:45

INTERPRETING THE FINANCIAL ANALYSIS AND BUDGETARY CONTROL FOR IMPROVEMENT RECOMMENDATION  

5:00 End of Course