FMM INSTITUTE (475427-W) 100 % SBL SCHEME / SME Corp Training Upgrading Upgrading Scheme Centre for Professional Development SMEs SKILLS UPGRADING PROGRAMME HOW TO PREPARE AND MAINTAIN FULL SET OF ACCOUNTS Date: 24-25 JUNE, 2013 Venue: FMM INSTITUTE, Sungai Petani INTRODUCTION: 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. TARGET GROUP: GROUP Accountants, Accounts and Finance Executives, Accounts Clerks and Bookkeepers. OBJECTIVES 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, ournal 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. COURSE CONTENT DAY 1 History and the Necessity of bookkeeping ♦ Origin and brief background of bookkeeping ♦ Difference between financial accounting and management accounting ♦ Why and necessity of bookkeeping ♦ Different styles of bookkeeping Glossary and Understanding of Terms ♦ Financial statements, assets, liability and capital ♦ Depreciation and amortisation ♦ Share capital, debentures and different structures of capital Concept of ‘Double-Entry’ in Accounts ♦ What is ‘double-entry’? ♦ The meaning of balancing the accounts and general ledger ♦ Concept of trial balance and financial statements Accruals, Prudence and Matching concepts ♦ Accounting principles and standards ♦ Accrual concept ♦ Prudence concept ♦ Knowing matching concept Journal Entries, Posting into Accounts and Fixed Assets Accounting ♦ The concept of journal entries, journal postings and ‘doubleentry’ ♦ Accounting for fixed assets ♦ Making entries for depreciation, amortisation, bank charges, interests, etc. Accounts Receivable (AR), Accounts Payable (AP) and Bank Reconciliation ♦ 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 DAY 2 Inventory Accounting and Methods of Valuation ♦ 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 ♦ Real time vs batch processing Interpretation of Financial Statements ♦ Quick look at ratio analysis ♦ Computation and interpretation of liquidity, profitability and investors’ ratios ♦ Ratio analysis and financial statement reading 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”. ADMINISTRATION DETAILS Date: 24-25, June 2013 Duration of Course: 2 days Time: 9.00 a.m – 5.00 p.m Venue: FMM INSTITUTE, Sungai Petani Fee: FMM Members – RM650/participant Non-Members-RM750/participant RM285 per participant (after 70% Skills Upgrading Grant) RM950 per participant (before Skills Upgrading Grant) (Fees include Course Materials, Refreshment, Lunch and Certificate of Attendance) Eligibility to SMEs Skills Upgrading Programmes: ♦ Manufacturing sector (including agricultural- based industries) and manufacturing-related services - annual sales value is not more than RM25 million or with less than 150 full-time employees ♦ Services sector (including ICT) - annual sales value is not more than RM5 million or with less than 50 full-time employees ♦ SMEs must be registered under the Companies Act 1965 (Private Limited Companies) or under the Registration of Business Act 1956 (Enterprise Companies) with majority Malaysian shareholders (minimum 60%) Attendance is by prior written registration only. Registration form must be completed and returned to FMM Kedah/Perlis. Registration is on a first-come-first serve basis. Cheque made in favour of “FMM Institute” should be forwarded to the FMM Institute Unit 3, 2nd Floor, Bangunan EMUM 55, Jalan Gangsa, Kawasan Perindustrian Mergong 2, 05150 Alor Star, Kedah. There will be no refund or cancellation within 4 days prior to the programme, 50% refund for cancellation between 5-9 days and full refund for cancellation 10 days prior to the programme. Cancellation must be made in writing. However, replacement can be accepted at no additional cost. FMM Institute reserves the right to cancel or re-schedule the above programme and all the efforts will be taken to inform participants of the changes. For enquiries: Contact Meeza/ Hafifah at 04-7343110/011, 04-4216876 or email [email protected]/[email protected] ____________________________________________________________________________________________ REGISTRATION FORM HOW TO PREPARE AND MAINTAIN FULL SET OF ACOUNTS Date: 24-25, JUNE 2013 Venue: FMM INSTITUTE, Sungai Petani FMM Kedah/Perlis Fax: 04-7344057 (Attn: Meeza/Hafifah) Please register the following participants for the above programme: 1. Name: __________________________________________________________ Designation: _____________________________________________________ I.C. No: _________________________________________________________ 2. Name: __________________________________________________________ Designation: _____________________________________________________ I.C. No: _________________________________________________________ (Please attach a separate list if space is insufficient) Enclosed is our cheque no. ............................. for RM ..............…. being payment for the registration of ............... participant(s) made in favour of the ‘FMM INSTITUTE’ Submitted by: Name: ………………………..………………………………. Designation:……………………………………..………….. Company: ………………………..……………..…………… Address: …………………………………..….……….......... ………………………………………………............................Tel No.: .............. Fax No.: ................. M/ship No.: …… FMM INSTITUTE Kedah/Perlis (475427-W) Unit No 3, Second Floor, EMUM Building 55, Kawasan Perindustrian Mergong 2, 05150 Alor Setar, Kedah Tel: 04-7343110/011 Fax: 04-7344057 E-mail: [email protected] Website: www.fmm.org.my