This training is targeted toward providing updates and technical knowledge to beginner accountants and accountant technicians 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. Even those seeking refresher knowledge on certain accounting standards are welcome to attend. The program is essentially workshop-based, with worked examples and illustrations, that would be beneficial in the daily work of the participants.
Brochure
— Course Fee: RM 1,580.00 (Inclusive of 8% Service Tax) —
Day 1
Module 1: Overview
- Introduction
- Review of accounting framework
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: 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 4: MFRS 123: Borrowing costs
- Definition
- Recognition
- Borrowing costs eligible for capitalisation
- Excess of the carrying amount of the qualifying asset over recoverable amount
- Commencement of capitalisation
- Suspension of capitalisation
- Cessation of capitalisation
Module 5: MFRS 121: Impact of foreign currency
- Determining functional currency
- Presentation currency
- Accounting treatment of foreign currency
Day 2
Module 6: MFRS 102 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 7: MFRS 136: Impairment of assets
- Introduction
- Impairment model
- Disclosure
- Impairment conclusion
Module 8: 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 9: MFRS 124: Related Party Disclosures
- Objective
- Scope
- Definitions
- Identification of related parties