Understanding And Handling Full Set Of Accounts In GST / SST Environment

INTRODUCTION

This programme enables participants to understand the bookkeeping process and how to prepare full set of financial accounts leading to the preparations of financial statements. Participants will also understand the accounting principles and standards governing the preparation of the accounts and its Financial Statements. Participants will also be shown how GST / SST is to be recorded.

LEARNING OUTCOMES

At the end of the programme, participants will be able to:

• Understand why accounting is important, the glossary of accounting terms, the fundamental accounting concepts used in accounts preparation, financial statements, journal entries, etc…
• Explain the concept of double-entry (debit & credit) & able to perform the double-entry process
• Better understand the relationship between the ledger accounts & the financial statements
• Know how to provide for depreciation, bad debts & other entries, know how computerized accounting systems work
• Prepare Statement of Financial Position and Statement of Profit or Loss Accounts and Other Comprehensive Income
• understand how to record GST / SST

Who Should Attend

Accountants

Accounts & Finance Executives / Clerks

Bookkeepers

Administration Executives / Clerks

Payroll clerks / Executives

Credit Control Executives

General Clerks

IT personnel who are involve in Accounting System

and those who wish to obtain a Good Understanding on Preparation of Full Set of Accounts.

METHODOLODY

Lecture / Exercises / Group Discussion / Games / Videos

Detail and registration form are available at https://wanfahprosper.com/understanding-and-handling-full-set-of-accounts-in-gst-sst-environment/

COURSE CONTENT

 DAY 1

THE NECESSITY OF BOOKKEEPING

• Origin and brief background of bookkeeping
• Why the Necessity of Bookkeeping
• Difference between financial accounting and management accounting

 

ACCOUNTING CONCEPTS AND EQUATION

• The fundamental Concepts and Assumption in Accounting
• Accounting Equation
• Rules of Double Entry System – Debit and Credit
• The Accounting Cycle

 

RECORDING AND ANALYSING BUSINESS TRANSACTIONS

• Understanding the Main Books of Accounting System
• Journal, Ledger and Source Documents
• Books of Original Entries – Types of Journals and Cash Book
• Ledger System – General Ledgers, Subsidiary Ledgers – Posting into Ledger
• Understanding How Accounts Receivable (AR) & Accounts Payable (AP) Work
• Performing AR, AP Reconciliation

 

FIXED ASSETS ACCOUNTING

• Differentiate between Revenue Expenditure and Capital Expenditure
• Depreciation Methods
• Disposal of Fixed Assets

 

INVENTORY ACCOUNTING AND METHODS OF VALUATION

• Reasons for keeping stock and the cost associated with the stock keeping
• Different Valuation Methods of Inventory: FIFO, LIFO & Weighted Average
• Advantages & Disadvantages of Each Method of Valuation

 

CAPITAL STRUCTURE 

• Types of Share Capitals
• Share Premium
• How to record the Share Capitals including the Share Premium

 

UNDERSTANDING THE CASH BOOK AND PETTY CASH

• Understanding the layout of Cash book
• Posting Cash Book Transactions into Ledgers
• Preparing Bank Reconciliation Statements
• Petty Cash and the system of controlling petty cash

 

PREPARATION OF FINAL ACCOUNTS

• Balancing Accounts and preparation of Trial Balance
• Detecting the errors or unbalance Trial Balance
• Peperation Trading Accounts / Profit & Loss Accounts / The Financial Position
• Final Adjustment – Bad Debts, Doubtful Debts, Provision of Taxation etc
• The closures of books and transfer of balances to next financial year

 

COMPUTERIZED ACCOUNTING

• Working in a Computerized Accounting Environment
• Difference Between Manual & Computerized Accounting
• Real Time vs Batch Processing

 

ACCOUNTING FOR GST

• Understanding Input and Output Tax
• Issuing Tax Invoices
• Timing for Transaction
• Tax Codes
• Adjustments for Bad Debt Relief
• Auditing using GAF

 

FACILITATOR

Mr. Tan Chee Wan

PSMB Train-The-Trainer certificate no: TTT/6518

Qualifications:
Fellows Member of Chartered Management Accountant – FCMA (UK)
Chartered Accountant (Malaysia) – CA (M’sia)
Chartered Global Management Accountant – CGMA
Competent Toastmaster – CTM

 

 

Tan Chee Wan is a Senior Member (FCMA) of the Chartered Institute of Management Accountants, CIMA and a member of Malaysian Institute of Accountants, MIA since 1992. He has been a Council Member of the CIMA Malaysia Divisional Council since 1998 until the Divisional Council dissolved in May 2012. Chee Wan is also a duly certified Competent Toastmaster of Toastmaster International.

Chee Wan has had a long and distinguished career as a Management Accountant in a number of well-known Malaysian and International Companies. He started his career in Finance as an Auditor. In 2000, he joined KNM Berhad as Group Financial Controller and played a pivotal role in KNM’s listing submission. In December 2005, Chee Wan returned to his hometown, Melaka and worked for Coats Thread (Malaysia) Sdn. Bhd. as Finance Manager / Director and retired in March 2012 to form Wanfah Prosper Training & Consultancy.As the pioneer CIMA Global Membership Assessor from Malaysia, Chee Wan is actively involved in giving talks and doing workshops for potential members who wanted to apply for CIMA membership locally as well as in Singapore and has conducted in house training as well as public training programmes on Finance both locally as well as in Cambodia. With the expansion of more oversea Global Membership Assessors, Chee Wan has been mentoring two new Assessors in Malaysia.After started his own business, Chee Wan has keep up todate of the current technology.  Among some of his achievement are created his own business websites, developed mobile apps and ventured into E-commerce.

All in, Chee Wan has more than twenty-five years of hands-on experience in different areas of management and functions in diverse industries such as in auditing, printing, construction, manufacturing, consultancy, engineering and trading. Other than the Finance, Accounting, Auditing, Taxation, Corporate Finance and Credit Control, some of the other functions include: general management, business development, business strategic planning, performance improvement, quality assurance, human resource management, information technology and management, budgeting and strategic cost management.

Chee Wan has attended the Train The Trainer Training conducted by PMSB and is a certified trainer under PMSB (Certificate No. TTT/6518).  Chee Wan is also a Certified GST Consultant / Trainer having attended the Royal Malaysia Custom GST training and passed its examination.

Contact Us at 

Telephone : +603 5523 1819

Mobile : +6016 263 4929

Fax : +603 5523 2827

Email : [email protected]

Facebook : www.facebook.com/wanfahprosper