HANDLING FULL SET OF ACCOUNTS

INTRODUCTION FOR HANDLING FULL SET OF ACCOUNTS

This course is designed to equip employees with the essential knowledge and skills required to handle the full set of accounts. Participants will go through the entire accounting process manually to gain a deep understanding of the methodology behind bookkeeping practices. By the end of the course, participants will be well-prepared to manage accounts effectively and apply their skills in a professional setting for long-term career growth.

LEARNING OBJECTIVE

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

1. Understand the fundamental of accounting, accounting terms, the accounting concepts, financial statements, and journal entries.
2. Understand the concept of double-entry (debits & credits) & get good knowledge of what is meant by ‘books must be balanced’.
3. Understand the concept between all accounts & the financial statements (how and which category they fall into)
4. Understand how to provide for the depreciation, bad debts & other entries and understand how computerized accounting systems work.
5. Prepare Balance Sheet & Income
6. Prepare Final accounts and maintain record

WHO SHOULD ATTEND

This course is ideal for:

• Senior Accounts Clerks
• Accounts Executives
• Entrepreneurs and Business Owners
• Supervisors and Heads of Departments (HOD)
• Finance Managers
• Students interested in accounting

METHODOLOGY

The training includes a blend of theoretical lessons, practical applications, and case studies. Participants will engage in hands-on activities, ensuring that they are well-equipped to handle accounting processes in real-world scenarios.

COURSE CONTENT

Topic 1- Accounting Policies

• Policies from a broad range of operational and financial areas, including cash, receivables, intangible assets, asset impairment, inventory valuation, types of liabilities, revenue recognition, and capitalized costs.
• Differences between Management Account and Financial Accounting base on International Financial Reporting Standard (IFRS).

Topic 2 – Analyse The Accounting Transaction & Recording

• What is accounting entries and how does the record should capture in the book?
• How do we record the journal entries?
• What are the eight steps in the accounting cycle?
• Ledger System – General Ledgers, Subsidiary Ledgers – Posting into
• Classification of the expenses base on the Tax

Topic 3 – Fixed Assets

• What is fixed assets – Tangible assets, Property Plant & Equipment (PP&E).
• Types of Fixed
• Components of fixed
• Formula and calculation of fixed
• Differences between revenue expenditure & capital
• Disposal of fixed
• How does the fixed assets list help to calculate the

Topic 4 – Account Receivable (AR) & Account Payable (AP)

• What is an Account Receivable & Account Payable statement?
• The role of Account Receivable & Account
• The formula of Account receivable & Account
• How do we figure out the Account Receivable & Account Payable?
• The process of Account Receivable & Account
• The examples of AR &

Topic 5 – Inventory

• What is inventory in Accounting?
• What is inventory control and how does the control system works?
• How Inventory Works & how it interacts with General Ledger
• Different Valuation Methods of Inventory: FIFO, LIFO & Weighted Average
• Advantages & Disadvantages of Method of

Topic 6 – Cash Book Transaction ( Bank & Cash )

• How does the petty cash system works?
• Is petty cash defined as expenses or income?
• What transactions are recorded in cash book?
• Posting Cash Book Transactions into
• How do we reconcile the bank transaction?
• Preparing Bank Reconciliation

Topic 7 – Preparation Of Final Account

• Preparation of Profit And Loss Account with
• Balancing the Trial Balance with journal
• Write off the bad
• The closures of books and transfer the balances to next financial
• Identify the provision/accrual entries before close the
• Cross check the entries with supporting documents and filing

Topic 8 – Deposits / Prepayment

• Type of
• What is prepayment in Balance Sheet?
• Differences between prepayment and Is prepayment defined as an expenses?

Topic 9 – Current Liabilities & Long Term Liabilities

• Term Loan
• Hire Purchase
• Overdraft
• Provision for Contingent

Topic – 10 – Share Capital / Other Resources

• Authorize capitals and paid up
• Accounting

Topic – 11 – Sales Recognition And Invoice Issuance

• When sales invoices should be issued?
• What are the documents should be combined together with sales invoices?
• Sales recognition base on completion of project (percentage basis).

Topic 12 – Salaries / EPF / SOCSO / Staff Allowance

• Calculation of salary, and Staff
• EPF & Socso contribution
• Deadline of payment for EPF &

Topic 13 – FD interest Receivable & Payable, and Chargeable Interest

• How to calculate the FD interest?
• The journal

Topic – 14 Provision For Taxation

• Submission of
• Estimation of tax payable base on P&L.
• Deadline for the CP 204 submission to

Topic – 15 Preparation For Audit

• Audit adjustments and journal
• Preparation of supporting
• Submission of account for audit before the
• Submission of audit report within the

Q & A Session

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