FMM Institute Selangor Branch Centre for Professional Development HOW TO PREPARE AND MAINTAIN FULL SET OF ACCOUNTS August 25 - 26, 2014 | 9.00am - 5.00pm | Shah Alam Convention Centre FACILITATOR Mr Lok Char Lee holds a Bachelor of Accounting Degree (Hons) from Universiti Malaya and a Masters Degree in Information Technology from Universiti Sains Malaysia. He is a Chartered Accountant registered with Malaysian Institute of Accountants (MIA), a member of the Chartered Institute of Management Accountants (CIMA) and Fellow of the Chartered Tax Institute of Malaysia (CTIM). He has more than 15 years of working experience and obtained his accounting and finance experience while working as a statutory auditor and tax consultant in various local and international auditing firms. His work experience encompassed various accounting, auditing, costing and taxation aspects for clients ranging from small medium enterprises to multinational companies which consist of manufacturing, trading, property development, construction and financial institutions. Mr Lok has trained directors, managers, executives, officers and clerks in the areas of management, accounting, finance, taxation, costing and budgeting. He is a regular trainer for small and medium sized enterprises, large companies and multinational corporations. Mr. Lok is senior lecturer in accounting at the School of Management, USM. He is also experienced in teaching professional courses such as CIMA, ACCA and AIA at various private colleges. He is the co-author of the book “Principles and Contemporary Issues in Internal Auditing”. WHO SHOULD ATTEND Accountants, Accounts and Finance Executives, Accounts Clerks and Bookkeepers. Registration is on a first-come first-served basis. Cheques made in favour of the “FMM Institute” should be forwarded one week before the commencement of the programme. Completed registration form, that is faxed, mailed or e-mailed to FMM Institute, would be deemed as confirmed. INTRODUCTION This programme enables participants to understand bookkeeping and how to prepare full set of financial accounts including manufacturing accounts leading to preparations of financial statements, whilst understanding accounting principles and standards governing them. OBJECTIVES At the end of the programme, participants will be able to:  understand the basics and necessity of Accounting  understand the glossary of accounting terms, accruals, prudence and matching concepts, accounting principles, financial statements, journal entries, etc.  explain the concept of double-entry (debits and credits) and fully understand what is meant by ‘books must be balanced’  understand the relationship between all accounts and the financial statements (how and which category they fall into)  know how to provide for depreciation, bad debts and other entries  interpret financial statement  know how computerised accounting systems work  prepare Balance Sheet and Income Statement. CONTENTS DAY 1 History and the Necessity of Bookkeeping   Origin and brief background of bookkeeping Difference between financial accounting and management accounting All cancellations must be made in writing. There will be no charge for cancellation received 10 or more working days before the start of the programme. Cancellation received 6 – 9 working days before the start of the programme is subject to a cancellation fee of 50% of the course fees. Cancellation received 5 working days and below before the start of the programme is subject to a cancellation fee of 100% of the course fees. If the participant fails to attend the programme, the full course fees are payable. However, replacement can be accepted at no additional cost.   10% group discount is applicable for registration of three (3) or more participants from the same organisation and of the same billing source. The FMM Institute reserves the right to change the facilitator, reschedule or cancel the programme and all efforts will be taken to inform participants of the changes. Share capital, debentures and different structures of capital Concept of ‘Double-Entry’ in Accounts ADMINISTRATIVE DETAILS Dates : August 25 - 26, 2014 Time : 9.00 am – 5.00 pm Venue Fees : Shah Alam Convention Centre No.4 Jalan Perbadanan 14/9, 40000 Shah Alam, Selangor : FMM Members – RM1300 per participant Non Members – RM1,600 per participant (Fees include course materials, Certificate of Attendance, lunch and refreshments) For further enquiries, please contact: Pn Nazihah / Pn. Shimah SBL SCHEME      Financial statements, assets, liability and capital   The meaning of balancing the accounts and general ledger Accounting principles and standards Accrual concept Prudence concept FMM Institute, Selangor Branch Tel: 03-55692950 Fax: 03-55694346  Email: [email protected] Visit us at: www.fmm.edu.my / www.fmm.org.my   How inventory works and interaction with general ledger Different valuation methods of Inventory: FIFO, LIFO and weighted average Treatment of raw materials and finished goods Advantages and disadvantages of each method of valuation Hire-Purchase and Loan Accounting   Hire-purchase and loan Accounting entries relating to hire-purchase and loan Share Capital, Share Premium and Other Sources of Funding and Reflection in Books    Share capitals and accounting entries Share premium accounting Redemption of shares and debentures; buy-back Computerised/Automated Accounting   Working in a computerised accounting environment Difference between manual and computerised accounting The concept of journal entries, journal postings and ‘double-entry’  Accounting for fixed assets Interpretation of Financial Statements Making entries for depreciation, amortisation, bank charges, interests, etc. Accounts Receivable (AR), Accounts Payable (AP) and Bank Reconciliation   What is ‘double-entry’? Knowing matching concept Journal Entries, Posting into Accounts and Fixed Assets Accounting   Depreciation and amortisation Concept of trial balance and financial statements Accruals, Prudence and Matching Concepts      Why and necessity of bookkeeping Different styles of bookkeeping Glossary and Understanding of Terms  DAY 2 Inventory Accounting and Methods of Valuation Understanding how AR work and relates to general ledger Understanding how AP work and relates to general ledger Performing Bank Reconciliation and AR, AP reconciliation    Real time vs batch processing Quick look at ratio analysis Computation and interpretation of liquidity, profitability and investors’ ratios Ratio analysis and financial statement reading REGISTRATION FORM HOW TO PREPARE AND MAINTAIN FULL SET OF ACCOUNTS August 25 – 26, 2014 (Monday - Tuesday) Shah Alam Convention Centre Please tick () accordingly: PSMB Scheme:  SBL  Non Contributor Required vegetarian meal:  Yes  No The Manager FMM Institute, Selangor Branch Tel: 03-55692950 Fax: 03-55694346 Email: [email protected] Dear Sir/Madam, Please register the following participant(s) for the above programme. (To be completed in BLOCK LETTERS) 1. Name Designation E-mail ____________________________________________________________________________________________________________ Nationality IC No. ____________________________________________________________________________________________________________ 2. Name Designation E-mail ____________________________________________________________________________________________________________ Nationality IC No. ____________________________________________________________________________________________________________ 3. Name Designation E-mail ____________________________________________________________________________________________________________ Nationality IC No. ____________________________________________________________________________________________________________ (If space is insufficient, please attach a separate list) Enclosed cheque/bank draft No. ____________________________________ for RM ________________________________ being payment for _________________ participant(s) made in favour of the “FMM Institute”. Submitted by: Name:_____________________________________________________________________________________________________ Designation: ___________________________________E-mail: _____________________________________________________ Company: _________________________________________________________________________________________________ Address:___________________________________________________________________________________________________ ____________________________________________________________________________________________________________ Tel No.: ______________________________ Fax No.: ________________________ Date: _______________________________ FMM Membership No.: ______________ My Corporate Identity No.: _____________________________________________