HRDF HRD Corp Claimable Full Set Accounting Training

100% HRDF / HRC Corp Claimable Full Set Accounting Training

12 December 2024 – 9am till 5pm

Face-to-Face Classroom

This HRDF HRD Corp Claimable Full Set Accounting Training will teach you the fundamentals of accounting and finance, enabling you to do bookkeeping and generate a full set of financial accounts upon successful completion of the course. You will begin with the basics and work your way up to more advanced concepts as you progress through this course. You will be taught how to create a balance sheet, income statement, and cash flow statement, as well as how to analyse financial statements, calculate crucial ratios, and comprehend their meaning. In addition to this, you will gain an understanding of the importance of managerial judgement in the selection of accounting estimates and procedures.

Learners are expected to be able to advance forward within their organisations using the abilities they acquire in this course, which will allow them to climb up the first rung of the ladder.

“Full set accounting” from HRDF HRD Corp Claimable Full Set Accounting Training, refers to the process of documenting, categorising, summarising, and evaluating a company’s financial transactions. This technique must be followed by each organisation in order to assess their financial performance and make decisions based on correct data.

In general, the following employees need to understand Full Set Account:

• Accounting personnel are in charge of accounting. Accounting personnel is responsible for day-to-day accounting tasks such as recording financial transactions, generating financial statements, and managing accounts payable and receivable. They are also in charge of keeping proper financial records.
• A financial analyst’s job is to analyse a company’s financial data in order to help businesses make informed decisions. They must comprehend full set accounting in order to review financial statements and identify trends, patterns, and inconsistencies.
• Company Owners: In order to efficiently manage their companies’ finances, business owners must have a basic understanding of complete set accounting. They must be able to read financial statements, analyse financial data, and make decisions based on the facts they have analysed.
• Auditors are in charge of inspecting financial statements and records to ensure that they comply with applicable accounting regulations and standards. They must understand Complete Set Account in order to carry out their obligations properly.
• Tax Professionals: In order to properly prepare tax returns, coach clients on appropriate tax planning approaches, and monitor their own compliance with applicable tax rules and regulations, tax professionals must have a solid understanding of Full Set Accounting.

LEARNING OUTCOMES

You will be able to do the following by the time this HRDF HRD Corp Claimable Full Set Accounting Training is over:

• To have an understanding of the accounting concepts as well as the standards that regulate them;
• To provide a comprehensive definition of the terminology and lexicon that are fundamental to accounting
• In order to be familiar with the basic concepts and procedures of accounting
• To understand the distinctions between the balance sheet and the profit and loss statement;
• In order to gain an understanding of how the day-to-day operations of the company would impact its finances and vice versa;
• In order to gain an understanding of the many kinds of financial reports, cash flow, and investment analysis;
• To prepare final accounts

WHO SHOULD ATTEND

• Accounts/Finance Department
• Admin, Clerk, Credit Executive that perform accounting related tasks
• Business Owners, Enterpreneurs
• Managers who like to learn to interpret and understand financial statements

TRAINING MODULE

Module 1: Concept of Accounting Fundamental & Primary Financial Statement Definition and Description of terminology and functionality in finance and decision-making cases

• Profit and Loss Account ·
• Balance Sheet ·
• Cash Flow Statement ·
• Fundamental of accounting principle

Module 2: The Key Element of Profit and Loss Account Learn the key element which make up profit & loss account

• Profit and loss account element (Revenue, other income, Cost of sales, other expenses, and admin expenses) ·
• Recognition of revenue · What is other income?
• The impact of other income in taxation
• The introduction of cost of goods sold
• You will be introduced to the concept of cost of goods sold
• You will learn different type of cost of sales
• You will be introduced administrative expenses, other expenses and marketing & distribution expenses

Module 3: The Key Element of Cost of Goods Sold

• Learn the key element of Cost of Goods Sold
• Understand the different method of costing
• You will be introduced on how costing affect the pricing strategy
• Understand how cost of goods sold related to the inventory management

Module 4: The Key Element of Administrative Expenses, Other Expenses and Marketing & Distribution Expenses

• Learn the key element of administrative expenses, other expenses and marketing & distribution expenses ·
• Understand the difference between account and tax recognition on expenses ·
• Will the expenses be tax deductible or non-tax deductible ·
• The category of administrative expenses, other expenses and marketing & distribution expenses ·
• Guidance on filing on the expenses

Module 5: The Key Element of Assets (1)

• Learn the key element of Assets
• The category of assets, the non-current asset and current asset
• Recognition of fixed asset · Small value asset can be charged out as expenses
• Preparation of fixed asset listing and depreciation

Module 6: The Key Element of Assets (2)

• Learn the key element of Assets (2)
• Introduction the element of current asset
• Introduction on trade debtors
• Preparation of reconciliation of trade debtors’ statement
• Introduction on other debtors, deposits and prepayment
• Maintenance account on other debtors and deposits and prepayment
• Introduction of cash and bank balances
• Preparation of bank reconciliation
• Introduction on other assets (e.g tax recoverable)

Module 7: The key elements of liabilities

• Learn the key element of liabilities
• Introduction to current liabilities and non-current liabilities
• Introduction to trade payable
• Prepare reconciliation on trade payable
• Introduction to other payables and accruals
• Maintenance account on other payables and accruals
• Introduction to borrowing or financing facility
• Maintenance of borrowing account (long-term and short-term)
• Introduction on other liabilities (e.g. tax payable)

Module 8: Accounting Application

• How does the double entry work on the P&L and Balance Sheet?
• To perform the double entry transaction
• Reconciliation on the double entry
• Will be using our proposed software (SQL or Xero) or your own software

To summarise, everybody who specializes in finance or accounting, or who must make financial choices for a firm, should have a basic understanding of Full Set Account.

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