This training is targeted toward providing updates and technical knowledge to accounting personnel who seek to upgrade their skills from being mere bookkeepers. Accounting has evolved from merely just being data entry. The presentation of financial information has progressed such that judgment may be required in many areas as well.
Brochure
— Course Fee: RM 1,580.00 (Inclusive of 8% Service Tax) —
Module 1: Overview
- Introduction
- Review of accounting framework
- Accrual vs Cash accounting
- Difference between a non-MFRS and MFRS financial statements
Module 2: MFRS 101 Presentation of financial statements
- Going concern
- Accrual basis of accounting
- Materiality and aggregation
- Offsetting
- Frequency of reporting
- Consistency of representation
- Overview of requirements of MFRS 101
Module 3: Inventories
- Recognition of inventories
- Measurement of inventories
- Normal level of productive capacity
- Time value of money
- Determining cost
- FIFO vs weighted average
- Application of consistency principle
- Net realisable value
- Derecognition of inventory
Module 4: MFRS 116: Property, plant & equipment
- General requirements of MFRS 116
- Recognition of PPE
- Initial measurement
- Directly attributable costs
- Cost of dismantling
- Subsequent expenditure
- Subsequent measurement
- Depreciation expense
- Fair value
- Accounting for revaluation
- Derecognition of PPE
- Significant components
- Biological assets
Module 5: MFRS 121: Impact of foreign currency
- Determining functional currency
- Presentation currency
- Accounting treatment of foreign currency
Module 6: MFRS 136: Impairment of assets
- Introduction
- Impairment model
- Disclosure
- Impairment conclusion
Module 7: MFRS 137: Provisions, contingent liabilities and contingent assets
- Provisions vs Accruals
- Recognising and measurement of provisions
- Obligating event
- Constructive obligations
- Contingent liability and Contingent asset
- Specific provisions: Reimbursements, restructuring, onerous contracts
Module 8: MFRS 16: Leases
- Introduction and overview
- Identification of a lease
- Lessee accounting
- Lessor accounting
- Sales & leaseback transactions
- Transition
- Presentation
- Disclosure requirements
Module 9: MFRS 15: Revenue from contracts with customers
- Overview
- 5-step revenue model
- Contract costs
- Presentation
- Disclosure requirements
Module 10: Miscellaneous / conclusion
- Other standards
- Summary
- Conclusion