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Accounting Course for the Non-Finance Professional

The risk of financial statements misinterpretation is high if one is not equipped with basic accounting knowledge; of which wrong operational and/or management decision making might be made which subsequently resulted into resource wastages for the company in the short run and jeopardize its continuity in the long run.

Our working environment today has evolved with the sensitivity of cost behaviour where end state of stake-holders objective is to optimize its scare resource.

Objective

Upon completion of this workshop, participants will be able to:

• Understand the basic Accounting Equation and the nature of each equation elements.
• Able to differentiate between Financial Statement required by ACRA and Internal Management.
• Understand the various type of topics within Accountancy such as Financial Accounting, Management Accounting, Cost Accounting, Taxation (Direct/ Indirect) as well as External/ Internal Audit etc.
• Learn how to prepare a Cash-flow statement and henceforth appreciate the relationship between Cash and Profit.

Outline

1. Types of Financial Statements (FS)

• Corporate Accounts
• Management Accounts

2. Introduction to Balance Sheet (B/S)

• Asset (Fixed & Current)
• Liabilities (Fixed & Current)
• Equity

3. Introduction to Profit & Loss Statement (P/L)

• Revenue
• Expenses
• Other Income
• EBITDA

4. Relationship between B/S and P/L

5. Difference between Trading FS and Manufacturing FS

6. Fundamental Accounting Principles

• Matching Principles
• Recognition of Incomes and Expenses
• Accrual & Prepaid Concept
• Provision

7. How transaction flows within the FS

8. Recording & relevance of common adjustments at year end

9. Importance of FS for Annual Return & how it affect a business continuity

10. Relating to real life business situation, i.e. how FS shape and influence strategic decision making & planning. Example using Cost-Volume-Profit (CVP) model Analysis

Who should attend

Non-Finance professionals who wish to understand accounting fundamentals before moving on to analyzing financial statements so as to value-add to their own department and the Company.

Methodology

This course teaches fundamental Accounting Principles together with illustration.

Participants will be shown step-by-step examples with double entries impacting the respective journal. Thereafter, there will be hand on exercises with answer provided after the sharing session.

Testimonials

- Useful content, would have used more time to go into more detail.
- Useful references
- Trainer is Passionate and helpful
Singapore Economic Development Board

- Layman enough for Non-Finance officers and Good example of how we can use
- Customized to participants interest & Pace
Central Provident Fund Board

Particular of Lawrence Poh

CA(Singapore), ATP(GST), CSP, ACTA, MAJ(NS)

Lawrence's passion in life revolves around teaching. In his years of corporate experiences, his belief is to anchor on nurturing those working professionals with EAR elements i.e. Energetic, Attentive, Receptive. Having mastered teaching-centric courses such as Train the Trainer, Method of Instruction and Learning Organization, Lawrence firmly believes in applying these methodologies during his lessons. End state in mind is to meet the learning objectives and more importantly to have fun. This can be achieved by having a conducive learning environment (reinforced with real life examples) which enables each participant to internalize most out of the lesson duration.

Lawrence is a full member of Institute of Singapore Chartered Accountants (ISCA) and Singapore Institute of Accredited Tax Professionals (SIATP). He is also a Qualified Individual approved by Singapore Accounting and Corporate Regulatory Authority (ACRA). He holds a Master of Accountancy from Victoria University, Australia and an Honours degree in Banking & Finance from University of London. He is also a Senior Army Officer (NS) who graduated from the former Singapore Command & Staff College.

Lawrence has more than 20 years of experience in accounting, audit, international tax, corporate finance, financial markets, company secretarial, ERP & Balanced Scorecard (BSC) system implementation and transformational leadership. He had assumed auditing, finance and accounting positions in Public Accounting Firms, Ministry of Defense and Process & Discrete Manufacturing Companies.