INTRODUCTION
This course would enable accounting staff to understand and appreciate the steps performed in the accounting process and their contribution to management decision making.
In today’s computerised accounting world, accounting staff may perform very specific duties as part of the accounting process. They may be involved in one specific area like handling accounts payable, accounts receivable, payroll, cash book, etc. As a result, they are often very focused in their respective areas of work that they may not be aware or knowledgeable of the other important areas in accounting.
With the advancement of computerised accounting packages, the accounting process is somewhat isolated and as a result these staff do not see the physical transaction actually taking place. This may lead to a lack of understanding of the accounting process. Knowledge in these other areas of accounting will enable the staff to contribute more effectively to the organisation.
The Government intends to implement e-invoicing in stages starting from 1st August 2024 to Enhance the Efficiency of Malaysia’s Tax Administration. Accounting personnel will need to have a good understanding of the process from both an Income and Expenses perspective.
The Accounting staff need to be very familiar with the mechanics of issuing e-invoices so that it can be validated by LHDN and passed on to the customers. This will ensure prompt processing of e-invoices and payment from customers.
They will also need to understand the impact of e-invoicing on employee benefits and claims so that these expenses can be claimed by the company for tax purposes without problems. The accounting staff should also be aware of the types of decision made by management like performance evaluation, budgeting and managing working capital.
An understanding of these management decisions would enable them to appreciate how their functions and information they provide fits into the overall objectives of the organisation.
OBJECTIVES
This course will enable accounting staff to do the following:-
- Understand the accounting process and its concepts
- Improve their skills in recording accounting information
- Appreciate how their job function contributes towards the preparation of financial statements
- Communicate more effectively with their superiors
- Contribute effectively towards management decision making
- Thoroughly understand e-invoicing and how it impacts the company’s Income and Expenses and their job function.
- Interpret financial statements to understand the financial strengths & weakness of the organization
- Understand the importance and determinants of cash flow and working capital
- Understand and assist in the budgeting process
TARGET PARTICIPANT
- Accounts Clerks
- Accounts Assistants
- Costing Clerks
- New Accounting personnel
METHODOLOGY
Interactive lectures, discussion, case study & exercises
NOTE: SIMPLE CALCULATOR REQUIRED
OUTLINES
MODULE 1: INTRODUCTION
MODULE 2: THE RECORDING PROCESS USING THE DOUBLE ENTRY | JOURNALS & POSTING TO LEDGER
MODULE 3: ADJUSTMENTS AT FINANCIAL YEAR END | ACCOUNTING FOR FIXED ASSETS
MODULE 4: E-INVOICING
MODULE 5: PREPARATION OF FINANCIAL STATEMENTS WITH ADJUSTMENTS
MODULE 6: FINANCIAL STATEMENT ANALYSIS
MODULE 7: CASH FLOW MANAGEMENT AND ANALYSIS | MANAGING WORKING CAPITAL COMPONENTS
MODULE 8: INTRODUCTION TO BUDGETING
CERTIFICATE OF PARTICIPATION
LINKS