Practical Accounting Skills to Enhance Financial & Reporting Accuracy

12-13 Sep, 2018, Furama Hotel Kuala Lumpur

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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 he re-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 analyzing 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 in the areas of Financial and Management Reporting.

 

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

Furama Hotel Kuala Lumpur
136, Jalan Changkat Thambi Dollah, 55100 Kuala Lumpur,
Phone : 03-2788 8888

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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
  • Introduction To Accounting
  • Accounting Adjustments Prior To Finalizing Accounts (Closing)
  • Importance Of Control Accounts And Reconciliations
  • Understanding, Interpreting And Analyzing The 3 Financial Statements
  • Understanding Cost Behaviour To Manage Your Profitability
  • Preparing Management Reports
  • Understanding Working Capital And The Cash Flow Cycle
  • SST – Transition of GST to SST
OBJECTIVE

The objective of the 2 Day course is to enhance and upskill Accounting staff, particularly the junior and new staff on their practical day-to-day accounting, analytical and reporting skills. With the extensive use of advanced Accounting Softwares, most Accounting staff are not really aware of the double entries and the control steps that take place in the background. As a result staff would not be able to analyze accounts, detect errors or even review the accuracy of their work. Aspiring and ambitious staff would need to understand the entire Accounting cycle in order to enhance their career prospects.

 

The course is very extensive, it starts off with a refresher of the Accounting double entry concept and then covers the special accounting adjustments and the accounting close cycle. Next part of the course is understanding the key controls aspects of accounting i.e. the use of Control Accounts and the various reconciliations required.

 

As a step up from Accounting, participants will be taught how to perform simple interpretation and analyzing financial statements, using Ratio analysis. Cash Flow is increasingly important to all businesses. Understanding the components and how working capital management is managed is crucial, therefore the next module focuses on this.

 

To round off the course, the impending transition of GST over to SST will be covered, especially the accounting aspects.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Obtaining a refresher on the importance of Accounting and Management Accounting.
  2. Knowing the Accounting adjustments required to accurately close off the accounts.
  3. Understanding the purpose of control accounts and the various reconciliations.
  4. Understanding and analyzing the key financial statements using Ratio Analysis.
  5. Learning Cost behavior analysis to better manage costs.
  6. Mastering techniques of preparing and presenting effective Management Reports.
  7. Controlling and managing cash flow to avoid business collapse.
  8. Managing the transition of SST from GST
WHO SHOULD ATTEND
  • Finance Executives.
  • Finance Managers or Controllers of small/ medium sized companies.
  • Non-finance professionals involved in analyzing and presenting Financial Reports.
  • Business Performance analysts.
METHODOLOGY
Interactive Lectures, Exercises, Case Studies, Discussion and Q &A Session
DAY 1
9:00 INTRODUCTION TO ACCOUNTING
  • Refresher on the importance of accurate accounting.
  • Accounting concepts revisited and illustrations where they apply.
  • Difference between accounting and management reporting.
  • The Asset/Liability and Shareholder Funds equation.
  • Types of companies and the accounting impact.
10:45 ACCOUNTING ADJUSTMENTS PRIOR TO FINALIZING ACCOUNTS (CLOSING)
  • Why we need the special adjustments to finalize and before closing the accounts.
  • Accruals and Pre-payments
  • Depreciation and Fixed Assets adjustments
  • Inter-Company balancing.
  • Clearing suspense Accounts
  • Bad Debts Provisions.
1:00 Lunch

2:00

IMPORTANCE OF CONTROL ACCOUNTS AND RECONCILIATIONS

  • Issues frequently faced in Sub Ledgers and Control Accounts.
  • Importance of Accounts Receivable (AR) and Accounts Payable (AP) reconciliations
  • Bank Reconciliations.
  • Stock Reconciliation
  • Sales Control Accounts and Reconciliation to Stock.
  • Payroll Reconciliations.
3:45 UNDERSTANDING, INTERPRETING AND ANALYZING THE 3 FINANCIAL STATEMENTS
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Use of Ratio Analysis to interpret and analyze the financial statements.
Class Exercises on simple accounting analysis and interpretation financial reports.
5:00 End of Day 1
DAY 2
9:00 UNDERSTANDING COST BEHAVIOUR TO MANAGE YOUR PROFITABILITY
  • Introduction to the new concept of Controllable and Un-controllable costs.
  • Preparing costs budgets on the basis of Controllable and Uncontrollable costs.
  • Variable and Fixed Costs management.
  • How to explain cost overruns and communicate them properly.
10:45 PREPARING MANAGEMENT REPORTS
  • Actual vs budget variance reports.
  • Techniques of presenting adverse variances and solutions.
  • Preparing and updating forecasts.
  • How to present management reports and articulate your points.
1:00 Lunch

2:00 UNDERSTANDING WORKING CAPITAL AND THE CASH FLOW CYCLE
  • Understanding the operating cash flow cycle of a business.
  • Common reasons how unfavorable cash flows can destroy businesses.
  • Accounts Receivable.
  • Accounts Payable.
  • Stock.
3:45 SST – TRANSITION OF GST TO SST
  • Difference between SST and GST – accounting entries.
  • Effect on profitability due to SST
  • How to change features in your Accounting Software to cater for SST.
  • Process of lodging and paying SST.
5:00 End of Course