Effective Management Of Accounting Functions (PDT130)

19 July 2017 - 20 July 2017

INTRODUCTION
The Accounting/Finance Department is the key financial link in the overall organizational structure. It is entrusted with not only keeping accounting records but instituting necessary internal controls and procedures and cash flow and credit control functions. As the competition in the business world gets intensified, the accounting functions of a business become more important in creating a competitive advantage. However, in order to be able to accomplish this objective, the accounting personnel of a company must be well versed with the current and in-depth accounting functions. This in return will help personnel to be better equipped in the process of providing useful and meaningful accounting system and timely information for decision making.

OBJECTIVE
Upon completion of the course, participants will be able to:
• Understand thoroughly the various functions of the Accounts/Finance Department
• Acquire knowledge on credit control and cash flow management
• Acquire knowledge on cost planning and control
• Understand the presentation of financial reports and budgets
• Identify problem areas of various accounting functions and obtain solutions
• Understand accounting standards for assets and liabilities
• Understand accounting standards for income tax

COURSE OUTLINE
Module 1: Primary Roles of The Accounts Department
• Setting up the accounts department
• Staffing
• Record keeping and statutory compliance
• Reporting
• Annual reports
• Internal control

Module 2: Credit Control and Cash Flow Management
• Managing cash flow
• Planning cash flow
• Monitoring and collection techniques
• Review of credit policy
• Managing fund flow and excess funds

Module 3: Practical Principles of Budgeting
• Purposes of budgets
• Roles of budgets in business organization
• Administering the budget
• Management by objective
• Planning cycle and its relationship to management by objective

Module 4: Budgeting Control Principles
• Cost centres
• Profit centres
• Investment centres
• Responsibility accounting
• Controllable and non-controllable cost
• Appraisal systems for managers performance

Module 5: Cost Planning and Control For Effective Cost Management
• Cost-volume-profit and contribution analysis
• Practice problems in identifying fixed and variable costs
• Break-even analysis

Module 6: Presentation of Financial Reports And Budgets
• Reporting business events in a more analytical manner
• Contemporary reporting issues
• Use of graphs and trend analysis
• Financial highlights
• Industry comparative analysis

Module 7: Selected Financial Reporting Standards In Malaysia
• Property, Plant and Equipment
• Investment properties
• Inventories
• Provisions

Module 8: Basic Principles of Tax Accounting
• Accounting for current tax
• Accounting for deferred tax

METHODOLOGY
Workshop, exercises, lectures, dialogue and Q&A sessions

WHO SHOULD ATTEND
Accounts/ finance executives/ officers/ assistants, administrators, supervisors, department heads and executives and staff who need to manage various accounting functions.

TRAINER’S PROFILE
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).

Mr. Lok 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.

Mr. Lok is co-author for the book “Principles and Contemporary Issues in Internal Auditing”.

Given below is the list of past assignments accomplished by Mr. Lok:
1. Finance For Non-Financial Managers and Executives
2. Developing Effective Accounts Personnel
3. Cost & Management Accounting Practices & Procedures
4. Preparation Of Financial Budgets & Creative Accounting
5. Advanced Financial Accounting Practices & Procedures
6. Effective Management Of Accounting Functions
7. Effective Management of Corporate Taxation
8. Effective Stocktaking and Evaluation (Conducted in Mandarin)
9. Understanding Financial Reporting Standards in Malaysia
10. Preparation of Corporate Financial Statements Under Financial Reporting Standards in Malaysia
He brilliantly incorporates his knowledge and expertise it into his trainings. Some of the organizations that have benefited from his expertise include:
• Advanced Medical and Dental Institute (AMDI), Bertam
• APM Industries Holding Sdn Bhd
• BOH Plantations Sdn Bhd
• Goh Ban Huat Berhad
• Hovid Berhad
• Jabatan Pembangunan Koperasi Pulau Pinang
• Kaga Components (Malaysia) Sdn Bhd
• Latexx Manufacturing Sdn Bhd
• Malwira Manufacturing Sdn Bhd
• Rajang Port Authority, Sibu
• Santomas Sdn Bhd
• Tanaka Electronics Malaysia Sdn Bhd
• TRW Steering & Suspension (M) Sdn Bhd
• UAC Berhad

DURATION
2 days (9am – 5pm)

COURSE FEE
Program 100% Claimable under SBL Scheme
PSDC Members: RM 800/pax
Non-Members: RM 900/pax

DATES
11 – 12 May 2017
12 – 20 July 2017