Financial Accounting and Reporting Training Course in Kuala Lumpur

Objectives

By the end of the program, participants will be able to:

• Recognize important financial accounting topics and how to report them on financial statements.
• Properly account for assets, liabilities, equity, revenues and expenses.
• Prepare financial statements with the required notes and disclosures in periodic financial reports.
• Recognize the need for transparency in reporting of financial statements and management reports.
• Determine the structure, presentation and disclosure of financial statements and annual reports.
• Report and interpret income statement and balance sheet accounts.

Training schedule

Financial Statements and Business Decisions

• Accounting and Financial Systems
• Four Key Financial Statements
• Relationship among the Financial Statements
• Management Uses of Financial Statements
• Essential Notes to the Financial Statements

Income Statement

• Recognizing and Accounting for Revenues and Expenses
• Applying Matching Principle and Accrual Basis
• Comprehensive Income and Earning Per Share
• Signs of Cooking the Books

Balance Sheet & Statement of Owner’s Equity

• Categories and Accounts of Assets, Liabilities and Equity
• Definitions of Accounts in the Balance Sheet
• Statement of Owners Equity
• Caution Flags

Cash Flow

• Defining the Three Sections of Cash Flow Statement
• Direct versus Indirect Method and the Relation to BS and IS
• Interpreting Cash flow Patterns

Accounting Adjustments

• Accruals and Unearned Revenue and Prepayments
• Accounting Estimates
• Financial Statements Relationships

Receivables

• Measuring and Reporting
• Estimating and Accounting for Bad Debts
• Methods of Converting Accounts Receivable to Cash

Inventory

• Nature of Inventory and Cost of Goods Sold (COGS) 
• Methods for Determining Inventory and COGS Values

Property, Plant, Equipment and Intangibles

• Classifying, Measuring and Recording Long-Lived Assets
• Accounting for Repairs, Maintenance, and Additions
• Depreciation, Amortization and Disposal of Assets
• Accounting and Reporting for Intangibles and Natural Resources

Reporting and Interpreting Investments

• Types of Equity and Debt Investments
• Accounting for Investments
• Fair Value and Equity Methods / Controlling Interest

Liabilities and Owners’ Equity

• Definitions and Classification of Liability Accounts
• Types of Ownership and Stock
• Accounting for Capital and Dividends
• Accounting for Treasury Shares