SHARPENING YOUR ACCOUNTING SKILL IN SST REGIME( 2 DAYS)
By Mr. Kenneth Tam - 10 & 11 December 2018, 9:00 am to 5:00 pm
Kuala Lumpur
(100% Claimable From HRDF/PSMB)
Introduction:

Maintaining good accounting records is an essential function in any business and failure to do may result in poor business decision. Every enterprise faces the tedious task of keeping the accounting records in an orderly and disciplined manner, where accounting procedures are not adhered to thus making the wrong accounting entries and transaction omitted.

Therefore equip your staff with the knowledge in maintaining an accounting record is important .Adequate knowledge of understanding the SST concepts and mechanism is essential to able the accounting staff to perform their task effectively and efficiently within their tight time constraints for submission of the SST return in order to avoid penalties for non-compliance . This program will take participant through the various stages and complete process of preparing the full set accounts with special emphasis on the double entries involve SST transaction as well as the transitional issues .

How will you benefit ::
Upon completion of this program, the participant will be able to :
  • Understand the accounting concept,equation and uses of accounting data
  • Fundamentals of double entry in business transactions
  • Managing account receivable,provision of doubtful debt and bad debt write off
  • Accounting for fixed asset and depreciation
  • Year-end adjustment for accrual & prepayment and stock valuation
  • Prepare financial statements i.e. Income Statement and Statement of financial position (Balance Sheet)
  • Understand the Scope and mechanism of Sales Tax and Services Tax Act 2018
  • Understand the various available SST Exemption /Benefit facilities
  • Understand submission process of SST-2 return and time frames for submission and payment
  • Accounting Basis, Taxable period and record keeping
Who Should Attend:

Office administrators,Account clerk, Account supervisors, Administrative assistance, Account receivable(AR) and Account payable (AP) staff,Finance executives , staff involve in accounting work .

Methodology ::

This stimulating program will maximizes the understanding and learning through lecture supported by Power-point presentation , discussion and examples.

Duration

14 Hours, 2 Days.

Course Outlines :-
  1. MODULE 1 : UNDERSTAND THE PURPOSE OF ACCOUNTING
    • Introduction to fundamentals of accounting
    • Accounting process, concepts and principles
    • Users of accounting information
  2. MODULE 2 : INTRODUCTION TO DOUBLE ENTRY ACCOUNTING SYSTEM
    • Rule of double entry system for assets, liabilities, share capital, revenue and liabilities
    • Ensuring relevant supporting documents for accounting transactions
    • Distinction between revenue and capital expenditure
    • Purpose of Journal entry and its preparation
  3. MODULE 3: MANAGING ACCOUNT RECEIVABLE AND ACCOUNTING FOR BAD DEBT AND DOUBTFUL DEBT
    • Receivable ageing report and credit utilization report
    • Account receivable credit period
    • Circumstances for bad debt write off
    • Accounting for bad debt write off and provision of doubtful debt
  4. MODULE 4 : ACCOUNTING FOR FIXED DEPRECIATION
    • Methods of computation of depreciation charges
    • Accounting entries for depreciation provision in income statement and balance sheet
    • Disposal of fixed asset
    • Gain or loss on disposal of asset
    • Impact on financial statement
  5. MODULE 5 : INVENTORY ACCOUNTING
    • Measurement of cost
    • Methods used in inventory valuation
    • Meaning of Net realizable value
    • Inventory write- off due to slow moving stock
    • Impact on gross profit , net profit on income statement and closing inventory valuation in Balance Sheet
  6. MODULE 6: PREPARATION OF FINANCIAL STATEMENT
    • Income statement /Profit and loss account
    • Statement of financial position /Balance Sheet
    • Accrual of expenses and prepayment
  7. MODULE 7: UNDERSTAND THE SCOPE AND MECHANISM OF SALES TAX ACT 2018
    • Goods subject to sales tax
    • Taxable person and its responsibilities
    • Valuation of sales tax on imported goods
    • Accounting Basis, Taxable period
    • Invoicing, debit note and credit note
    • Bad debt relief and recovered
    • Return and Payment, Record keeping and Penalty
  8. MODULE 8 : UNDERSTAND THE SERVICE TAX ACT 2018
    • Taxable person and Threshold
    • Taxable services under Group A to I
    • Reimbursement and disbursement
    • Inter-company management services
    • Industry guide on taxable services
    • Service tax facilities : Contra System
    • Accounting Basis and taxable period
    • Issuance of invoices , credit notes and debit notes
    • Return and Payment , record keeping and penalty
Your Trainer

Mr. Kenneth Tam is a trainer cum consultant. He has over 30 years of corporate experience in the field of financial management, financial accounting , tax , business planning and budgeting .He had wide , extensive and hand-on experience in various industries which include oil and gas( upstream and downstream) , manufacturing, trading ,project management and education. From 1980 to 2008 he held various managerial positions in a Global oil and gas group of companies, one of the Fortune 500 companies.

Kenneth Tam is a Fellow member of the Association of Certified Chartered Accountants UK (FCCA), Associate member of the Chartered Institute of Management Accountants UK (ACMA), member of the Charted Global Management Accountant (CGMA), a member of the Malaysian Institute of Accountants (MIA). He also obtained a certificate IV in assessment and workplace training from Australia and approved certified trainer from PSMB.

Course Fee
(Course fee is inclusive of 2 tea breaks, lunch, course material,Certificate of Attendance)
Early Bird for training in KL : ( Book Before 26 November 2018 )
1 person or more ~ RM 1280 / person
Standard
1 person ~ RM 1380 / person
2 persons or more ~ RM 1280 / person
(Course fee is inclusive of 2 tea breaks, lunch, course material, Certificate of Attendance)
Terms & Conditions:
1. Registration & Fees Policy
Registration is confirmed once registration form is received via fax/email/mail. All Payments/Undertaking Letters/Local Order (LO)/Letter of Approval must be made available and presented prior to the course.
2. Cancellation Policy
Any cancellation must be received in writing within 7 working days prior to the event else full payment will be imposed. Any no-show by registered delegates will be liable for full payment of the program fees.
3. Disclaimer & Program Changes Policy
Scientia Training Sdn Bhd reserves the right to amend or cancel the event due to circumstances beyond its control. We reserved the right to modify the advertised topics or course timing whenever necessary.
Registration:
1. Fax 03-6207 6727
       OR
3. Payment shall be made payable to SCIENTIA TRAINING SDN BHD
Contact Us:
Scientia Training Sdn. Bhd. (1001247-U)
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