Transactions Processing & Accounting Entries

– Accounting Policies and Grouping of Accounts
– Chart of Accounts
– Transactional documentation processing
(i) Common Documentation in use – covering current and before GST era
(ii) Matching concept
(iii) Checking and approving
(iv) Following up trail
(v) Transactional GST Input and Output Tax mechanism
– GST tax coding Requirements, Bad Debt Relief, GST Input Tax Repayment and Fixed Assets Purchase
– Accounting double entries, including accounting entries for GST including :

• Gifts cumulative to RM500 at multi dates
• Deemed Supplies
• Withholding Tax for import of Services
• Imports, disbursements bills from suppliers
• Treatment of Realized Exchange Difference
• Construction project cost and retention.
• Bad Debt Relief Claims and Repayment of Input Tax, and
• Many other day to day transactions of different industries.

GST Return Form (GST 03) and GST Audit File (GAF)

– Understanding of the Content
– Co-relationship of the GST code and accounting value to the content
– Reconciliation with Ledger accounts

Provisioning / Prepayments and Adjustments :

– Accruals, provisions and prepayments calculations and postings
– Depreciation / Amortization methods
– Bad and doubtful debt adjustments
– Stock obsolesces
– Debtors / Creditors reconciliation
– Bank Reconciliations
– Petty cash control

Understanding Financial Statements and preparation of supporting schedules :

– Manufacturing / Project Account
– Trading and Profit and Loss Account
– Balance Sheet

Accounting Ratio Analysis

– Profitability
– Liquidity
– Efficiency
– Insolvency
– Capital Expenditure Evaluation

Introduction to Cost Allocation and Costing

– Cost Classifications
– Types of Costing
– Variance Analysis
– Breakeven point