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Financial Accounting & Consolidated Accounts & Taxes

22-23 Nov, 2023, SERI PACIFIC HOTEL KUALA LUMPUR

IPA Training is Registered with

Venue Details

SERI PACIFIC HOTEL KUALA LUMPUR
Jalan Putra 50350, Kuala Lumpur,

https://www.seripacifichotel.com/


Phone : 0-3-4042 5555

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
  • Module 1: Understanding Accounting Terms
  • Module 2: Managing P&L & Cash Flow (Simulation Exercise)
  • Module 3: Improve Cash Flow & Profitability Position (Practical Case Study)
  • Module 4: Recording and Analysing Business Transactions
  • Module 5: Accounts Receivable (AR) & Accounts Payable (AP)
  • Module 6: Adjusting Accounts and reparing Financial Statements
  • Module 7: Preparation of Final Accounts
  • Module 8: Financial Ratios Analysis
  • Module 9: Consolidated Accounts
  • Module 10: Understanding Tax

    SPECIAL FEATURE: Participants Will Receive a Set of Practical Excel Templates suitable for all sectors.
INTRODUCTION

The primary goal of this course is to help professionals who have little 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 and also consolidated accounts.

 

Real-current accounting cases will be analyzed, and scenario solutions will be discussed in the course.

AFTER ATTENDING THIS COURSE YOU WILL BE ABLE TO:
  1. Prepare a full set of accounts i.e. preparation of journals, posting to ledger, preparation of trial balance, prepare month-end adjustments, and prepare income statement and balance sheet.
  2. How to read a balance sheet
  3. How to read Profit & Loss Statement
  4. Use Profit and Loss Statement to evaluate performance
  5. Understand the relationship between cash flow statement and balance sheet
  6. Managing Account Payables
  7. Managing Account Receivable
  8. Understand Consolidated Accounts
  9. How to look for information efficiently in the annual report
  10. Learn how to size up a company quickly by reading their financial ratios
  11. Understand Corporate Tax Computation
WHAT YOUR COLLEAGUES ARE SAYING ABOUT THE COURSE…
  • “Overall good. I am a bit slow due to not very good in accounting. I can say it is totally new to me. Big thank you, Dr Steven. I will discuss with my top management regarding to the budget aspects of my role for the next management meeting. Will implement this budget analysis to control branding & advertisement costs in 6-month times”
    Brand Development & operation Manager,
    DC Comics Superheroes
  • “Good introduction to the basics of accounting and financial analysis using practical real-life examples. Participants are able to grasp concepts quicker as it is hands on and interactive.”
    Legal Division, Ministry of Finance
  • “The tools of goal seek & solver shared are very useful & help in better understanding of tax planning. The best thing I learn from this course is the various simulation exercises on SST, withholding tax, corporate tax & employment tax. The whole program meets the objectives”
    Bursar, Kolej Professional Baitumal Kuala Lumpur
  • “The best thing I learn from this course is the material shared are all easy to understand. I’ve learnt the systematic ways to compute corporate tax “
    Executive Tax Accounting,
    Petroleum National Bhd (PETRONAS)
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.
COURSE CONTENT
9:00

MODULE 1: UNDERSTANDING ACCOUNTING TERMS

  • How is financial accounting different from management accounting?
  • Which do you need to know?
  • Accounting terms, concepts, double entry rule and accounting cycle
10.45 MODULE 2: 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
12.00

MODULE 3: 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
1:00 Lunch
2:00

MODULE 4: 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
3:45

MODULE 5: ACCOUNTS RECEIVABLE (AR) & ACCOUNTS PAYABLE (AP)

  • Understanding How AR & AP Work & Relate to General Ledger
  • Performing AR, AP Reconciliation
  • Timely payment due incomplete documents
  • Received invoices late from vendor/outlets
  • PO not stated on the invoice
  • Timely closing of AP/accruals
  • PO issued but invoice never reached AP
  • Cancellation of PO was never informed
5:00 End of Day 1

DAY 2

9:00

MODULE 6: ADJUSTING ACCOUNTS AND PREPARING FINANCIAL STATEMENTS

  • Accrual Basis versus Cash Basis
  • Recognizing Revenues & Expenses
  • Adjusting Accounts
  • Unearned (Deferred) Revenues
  • Accrued Expenses
  • Links to Financial Statements
  • Preparing Financial Statements

10.45

MODULE 7: 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
12.00

MODULE 8: FINANCIAL RATIOS ANALYSIS

  • Learn how to size up a company quickly by reading their financial ratios
  • Liquidity
  • Solvency
  • Efficiency
  • Profitability
  • Asset Management
  • Assessing drivers of company profitability and growth: -
  • Operations and investment strategies: operating and investment management
1:00 Lunch
2:00

MODULE 9: CONSOLIDATED ACCOUNTS

  • How is a parent-subsidiary relationship identified?
  • What are the principles applied in preparing consolidated financial statements?
  • Adjustments for unrealized profits
  • How is goodwill calculated?
  • What is an associate and how does equity accounting work?
3:45

MODULE 10: UNDERSTANDING TAX

  • Income tax computation
  • Non allowable deduction
  • Special deduction
  • Double deduction
  • Capital allowance
  • Approved Donation
  • Tax rate
5:00 End of Course