Sharpening Accounting Skills to Keep Full Set of Accounts

Sharpening Accounting Skills to Keep Full Set of Accounts under different E-Invoice and SST Transactions

INTRODUCTION

Accounting has always been recognized as a very key function in any organization. It provides the basis for information to help managers make a more informed and effective decision to increase organizational performance.

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

With SST accounting transactions of Registered Manufacturers and Service Tax Registered Person having this SST element need to be treated with care in their reporting to Customs. ALL Non-SST registered 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.

New challenges surface with the introduction of e-invoice. Certain transactions double accounting entry may need to be re-examined, such as those under self-billed, purchase of cash voucher, top up cards, cash vouchers as commissions, payment of purchase using own outlet’s vouchers, payment of purchase using third party vouchers, consignment stocks, etc.

Hence, this workshop incorporating Essential Accounting matters will help all Accounting Personnel to increase their effectiveness in their daily Accounting Work.

OBJECTIVE

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

• Employ the various Accounting Concepts and Standards in Accounting

• Application of Accounting Equations

• Understand key Accounting Terms in its Financial Statements and transactions

• Apply Accounting treatment capability for all daily business transactions and its Accounting Double Entries

• Application of Variance Analysis between actual and budget

• Use basic Accounting ratio analysis to analyse the financial statements

PRE-REQUISITE

• Stable Internet Connection

• Webcam and Earphones

• Calculator for hands-on exercises

• Participants are encouraged to bring real-life working questions for discussions

COURSE CONTENT

Module 1: Purpose of Accounting

• What is Accounting, Book-Keeping, Transactions and an Account

• Accounting Standards, Policies, Concepts and Equations

• Matching concepts in timing and operational control

• Users and benefits of accounting information

• Hands-on exercise on Accounting Equation

Module 2: Explanation of Key Accounting Terms

Statement of Income

• Revenue – in Accounting and Recognition criteria

• Other income

• Cost of Sales, Cost of Goods Sold, Operating Expenses, Finance Expenses

• Difference between Revenue and Capital Expenditure

• Different Classification of Cost & Operating Expenses in Company Account and Audited Financial Statement

• EBITDA

Statement of Other Comprehensive Income (OCI)

• What are these and its importance

Statement of Financial Position

• Distinction between Non-Current and Current Assets

• Property, Plant and Equipment Vs. Investment Assets

• Subsidiary and Association Companies Accounting Treatment

• Difference between Trade and Other Receivables

• Financial Assets

• Situation where Cash in Hand and at Bank will not tally to the closing Cash and Cash equivalent shown in the Cash Flow Statement

• Biological Assets, Bearer Plant, Agriculture Produced

• Right of Use Assets (RUA)

• Hire Purchase, effective interest rate and interest amount calculations

• Asset Depreciation, Amortization, Impairment, Fair Value and Appreciation Treatment

• Deferred Tax Assets and Deferred Tax Liabilities

• Intangible Assets

• Difference between Trade and Non-Trade Payables

• Treatment of Preference Shares – Liability or Equity

Statement of Change in Equity

• Common Components

• Meaning of Prior Adjustment and the word Restated

Statement of Cash Flow

• Three main activities of cash flow and how they are derived, with examples

• Preparation Methods

• How to read and understand Cash Flow Statement easily

Qualitative Information

• Chairman and Directors report

• Notes to the Accounts

• Understanding the different Audit opinions

Module 3: Daily Transactions Processing

• Transaction Processing Framework

• Transactional Documentation Processing for Sales, Purchase, Sales and Purchase Returns:

o Matching Concepts – Timing and Documentations,

o What document to match?

o Checking and Approving,

o Account Coding, Posting

Module 4: Double Entry Accounting Systems

• Concepts of Double Entry Accounting System

• Chart of Accounts – Mother Rule of All Postings

• Various Books of Account

• Accounting Double Entries for Assets, Liabilities, Revenue, Expenditure and Capital

• Examples of Double Entry Transactions

• Double Entries for Non-Current Assets Disposals

• Double Entries for selected SST Items - Payback of sales tax exemptions given earlier, Free Goods and Services, Service Tax for Imported Taxable Services, Service Tax Refund of Digital tax Incurred for Resales, Bad Debt Relief, Deregistration of Taxable Service Provider

• Double Entries under E-Invoice Era

• Declaration of Dividend

• Connection of Errors

• Double Entries for Withholding Tax

Module 5: Month and Year End Closing Adjustments

• Journal Double Entries for Monthly Adjustments such as Prepayments Adjustments, Accruals and Provisions for Expenses, Assets Depreciation and Amortizations

• Journal Double Entries for Provisions for Bad and Doubtful Debts, Provision (increase & decrease) for Stock Obsolesces and Provision for Asset Impairment

• Treatment of Non-Payable Expense Provisions

• Closing Stocks Valuations from the monthly count

• Cost of Sales Calculation

Module 6: Financial Analysis of Business Performance from Financial Statements

• Application of Financial / Accounting Ratios: Profitability, Liquidity, Over Trading and its Calculation, Efficiencies, Stability, Dupont Analysis

• Key Cash Sufficiency Ratios

• Basic Investment Decision Ratios

Module 7: Budgetary Control – Variance Analysis between Actual and Budget

• Sales Variance Analysis

• Operating Expenses Analysis

• Manufacturing Material Variance Analysis

• Production Labour Variance Analysis

• Overhead Variance Analysis

• Variance Analysis contribution to Business Performance

• Factors that give rise to Variances

• Accounting Treatment on Disposal of Variances

WHEN & WHERE

10 & 11 July 2025 (Thursday & Friday); 9.00 am to 5.00 pm

Remote Online Learning - Zoom

W HO SHOULD ATTEND

Entrepreneurs, Directors, Accountants, Fresh Accountants, Book Keepers, Accounts Clerks, and all other individuals interested to enhance their practical accounting skills to support their business operations

T RAINING INVESTMENT

RM 1,400 per participant (inclusive of Service Tax, Online Course Materials, E-Certificate of Attendance)

HRD Corp Claimable (SBL-Khas)

REGISTER HERE: http://carriera.com.my/index.php/training-registration-hrdf-sbl-claimable/

DOWNLOAD BROCHURE HERE: https://carriera.com.my/wp-content/uploads/2025/04/Sharpening-Accounting-Skills.pdf