[01] INTRODUCTION

The financial accounting function is a key and well-defined finance function in all business entities. This is an important function as it serves to provide financial information both for statutory compliance purpose and to inform the many stake holders of the business of its financial performance and condition or position at regular intervals of a year or shorter for PLC.

This function covers the basic of the collection, recording, and classifica- tion of financial transactions to the analyzing of accounts or statements and the eventual preparation of financial statements in compliance with legislations. The processes within this function are wide and varied, and personnel are generally tasked to handle a specific process or task with adequate check and balance. Anyone aspiring to head this function eventually must be conversant with most if not all the processes to be able to perform his duties and to contribute effectively to the company.

This 2-day program intends to provide the participant with a big picture, thorough and sound understanding of the basics of financial accounting and their applications in the workplace. Participants will also get to know the various key aspects of this function and to learn what are the best practices.

[02] COURSE OBJECTIVES

By the end of this program, participants will be able to: -

• To provide participants with the skills to “write a full set of books” from accounting transactions to preparation of the financial statements.

• Get an overview of the entire accounting system and understand the interaction and relationship between the various parts or segments of the system.

• Get an understanding of how transactions are sorted, classified, and categorized into meaningful financial information for incorporation into the system.

• Learn how to prepare the final accounts – Balance Sheet and Income Statement.

• To understand and be able to utilize accounting information in their works and to improve effectiveness and efficiency. • To enable participants to better interact with the finance (accounts) department, enhance cooperation and to secure their support in achieving departmental objectives.

• Understand how various legislations like Companies Act, Income Tax Act and MPERS / MFRS, etc., govern the accounting function. • Know the common mistakes/errors made and problems faced and learn the best practices to perform the task or process.

• Learn the functionalities and features of cloud accounting to better perform the accounting function without having to be location specific.

[03] WHO SHOULD ATTEND?

• Accounting personnel who need a throughout understanding of the mechanics of accounting and to assume other roles in or to progress within the accounts department.

• Accounting personnel who are or intend to be self-employed.

• Managers, executives, and staff of non-finance departments

• Anyone who uses financial numbers and need to understand how such numbers are derived from.

• Anyone who wish to obtain a good working knowledge of business accounting to enhance their relationship with the Finance department.

• Managers and executives involved in investigative work and for which an understanding of what goes behind the numbers would enhance their performance

[04] METHODOLOGY

Interactive lectures plus hands-on exercises, case studies and group discussions.

[05] LEARNING OUTCOMES

• Able to sort, classify, and categorize financial transactions; and to write up the “full set of books” from entry of transactions to the preparation of final accounts – Trial Balance, Income Statement and Balance Sheet.

• Increase the overall consciousness of accounting personnel on the impact of relevant legislations and regulations on the financial accounting function with resulting improvement in regulatory compliance.

• Apply best practices to the accounting function to reduce mistakes and errors; and enhance department’s performance.

• Use cloud accounting to enhance work performance through sharing of IT resources and flexibility in the working arrangement of the department

[06] PREREQUISITE

Laptops with access to the internet is required for case studies and exercises.

[07] DATE/ TIME/ FEE

Date:    14-15 November 2023 (Tue-Wed)

Time:    9.00am – 5.00pm

Venue: Merdeka Palace Hotel, Kuching

Fee: 

        - Normal Pricing      –       RM1460

- Fee includes Course Notes & Certificate of Completion and 6% Service Tax

** OFFER **

- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.

[08] COURSE CONTENT

Day 1

Module 1 - Introduction to Financial Accounting

• Understanding Accounting and Bookkeeping

• The needs and uses of accounting

• Accounting convention, concepts and principles 

• Decision making and accounting

Module 2 - Accounting Fundamentals

• An overview of the financial accounting system

• The Accounting Equation – Debit & Credit

• Accounting documentation and records keeping 

• Accounts, classification

• System of check and balance

Module 3 - Writing the Books (modules) of Accounts

• Chart of Accounts, Legal Entities and Business Nature 

• Cash & Petty Cash Book (Receipts and Payments)

• Sales Ledger (Accounts Receivable)

• Purchases Ledger (Accounts Payable)

• Journal Entries 

• General Ledger

(Participants are required to do the “writing up” to appreciate the working of the Ledgers’ System and to draw up the Trial Balance and preparation of the final accounts – Income Statement and Balance Sheet.)

End of Day One

Day 2

Module 4 - Finalizing the Accounts at Year-end

• Balancing accounts and Trial Balance

• Provisioning and writing off expenses – depreciation, bad debts, etc.

• Using suspense, clearing and control accounts.

• Correction of errors and adjustments • Closing the GL accounts

Module 5 - Legislations and Impact on Accounting

• Companies Act, 2016

• Income Tax Act, 1967 and Public Rulings • MPERS or MFRS

Module 6 - Cloud Accounting

• Introduction to Cloud Accounting

• Cloud vs. Traditional Software – A comparison

• Government’s Digital Drive and Future Trend

• A comprehensive exercise in doing up a full set of accounts using cloud accounting software.

End of Training

[09] TRAINER PROFILE

WINSON HAN 

Chartered Accountant, Consultant, HRDF Certified Trainer 

CA (M) CA (ANZ) B COM

Winson is a Chartered Accountant by profession and has over 30 years of experience having served in various roles as practicing accountant, company secretary, financial controller and management consultant. He presently consults and advises companies to better manage their businesses through an integrated process covering strategic planning; tactical design, planning (financial and otherwise) and implementation; and monitoring, review and analysis. A key focus of his consultancy is to help clients to better manage and utilize their cash resources and to restore a financially sickened company to good health.

Besides consulting, Mr. Han is also actively involved in conducting public and in-house seminars targeting the non-financial audience in financial management and analysis, financial planning & budgeting, cost management, SST/GST and credit and cash flow management.

He is a PSMB (HRDF) certified trainer and holds a degree in commerce from New Zealand and is a member of the newly merged institute known as “Chartered Accountants Australia and New Zealand” and Malaysian Institute of Accountants.

[10] ENQUIRY/ REGISTRATION

Email： yes@sst2u.com

Contact:

- General (03 - 8604 7270)

- Teo (011 - 3178 9203)

- Logesh (012 - 503 0346)

- Siti (012 - 383 8603)

- Han (019 - 323 0507)