Introduction

This is an intensive workshop on accounts receivable management. While sales are important, it is more crucial that the amounts sold on credit are ultimately collected on a timely basis with minimal bad debt losses.

The workshop trains participants on how to define a credit strategy, implement a credit policy, understand and interpret the fundamental information in financial statements, monitor accounts receivable outstanding and improve the effectiveness in the collection of accounts receivable.

Key Takeaways

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

• To be able to define a credit strategy
  
• To be able to implement a credit policy
• To be able to understand to understand and interpret the fundamental information in financial statements
• To be able to monitor accounts receivable outstanding
• To improve the effectiveness of the collection of accounts receivable

Who Should Attend

A person who is involved directly or indirectly with the responsibilities of sales, marketing, credit approval, credit review and collection.

Programme Outline

• Understanding the need for credit sales
  
• Understanding the need for a credit policy
• Gathering credit information
• Understanding financial statements
• Applying basic financial analysis of financial statements
• Monitoring accounts receivables
• Knowing the reasons for slow collections
• Pre-empting excuses for not paying promptly
• Seeing tell-tale signs of potential bad debts
• Using collection techniques
• Case Study & Practical Exercises
  
  Please bring along a calculator.
  

Methodologies

Concepts and applications will be taught using simple analogies. Participants will each be given a set of course materials together with practical exercises to complete during the workshop. There will be a case study for participants to role play in debt collection.

Programme Trainer

Raymond holds a Bachelor of Business Administration degree from the University of Singapore, as well as a Master of Applied Finance degree from Macquarie University, Sydney. He has more than 35 years of working and training experience in the areas of accounting and finance. He will share his past direct experience in the areas of credit and accounts receivable management at a factoring company and financial institutions.

Furthermore, he has conducted numerous training and seminars for training institutions, universities, corporate clients and the public. To make the training interesting, he uses simple daily analogies to explain complex concepts for easy understanding.

Introduction

Workplace has evolved into a multi-skills environment that all employees should have some concepts of Basic Accounting, Bookkeeping and Finance.

This course teaches Accounting Principles together with examples. No prior background of Accounting or Bookkeeping is required. Participants will be shown step-by-step examples and prepare a set of accounts by the end of the workshop.

Key Takeaways

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

• Outline the Bookkeeping and Accounting Principles
  
• Appreciate the common Bookkeeping jargons
• Understand the transformation of data from source documents into Income Statements and Balance Sheet
• Learn how to prepare a set of account document

Who Should Attend

Anyone who wishes to gain some practical aspects of Basic Accounting.

Programme Outline

• Principles of Accounts
• Accounting Standards
• Accounts Classifications
• Accounting Equation
• Source Documents
• Books of Original Entries
• Journals
• Trail Balance
• Income Statement
• Balance Sheet
• Cash Flows Statement

Methodologies

Case Studies, Exercises/Quiz and Q&A.

Programme Trainer

Lawrence graduated with a degree in Economics and Japanese Studies from National University of Singapore. He is a Fellow with the Association of Chartered Certified Accountants, (FCCA), a member of the Institute of Singapore Chartered Accountants (ISCA), an Accredited Tax Practitioner (ATP) and a member of Singapore Institute of Directors (SID). He has bagged with him more than 20 years of field experience in accounts, finance, human resources, information technologies and training.

He is ACTA certified and Master in Applied Linguistics at National Institute of Education, Nanyang Technological University.

Introduction

This intensive and practical workshop starts by introducing you to the different types of costs and let you understand how they each behave.  Next, the purpose of budgeting is emphasised to see its necessity in the manufacturing business and explain what the different types of budgets are and how they are prepared using EXCEL™.  Finally, participants will see the relationships of the different budgets leading to the income statement and balance sheet.

Key Takeaways

Upon completion of this workshop, participants will be able to answer the following questions:

• Why do we need to prepare budgets?
  
• What are the different types of costs and their behaviours?
• How do I forecast Revenue and Expenses?
• What are the different types of budgets?
• How do I prepare these budgets using EXCEL™?
• How are the budgets related to the Income Statement and Balance Sheet?

Who Should Attend

This Course is highly suitable for any managerial or executive staff members in management, marketing, sales, production, administration, and planning who need an overview and a basic understanding of the budgeting process directly or indirectly in the course of their work.

As a prerequisite, participants are expected to have some basic knowledge of financial accounting. In particular, they need to already know the components and structure of the Income Statement and Balance Sheet.

EXCEL™ will be used in a computer lab equipped with desktop PCs to develop the various budgets. Participants just need to know its basic functionality like =SUM(), relative and absolute cell referencing. The necessary formulas for preparing the various budgets will be taught.

Programme Outline

• Types of costs and their behaviours
  
• Purpose of budgeting
• Define budget and outline its role and importance to an organisation
• Link budgets to organisation strategy and policy
• Distinguish the difference between budget and forecast
• The characteristics of a good budget
• Recognise the problems and limitations of budgeting
• Understand the difference between CAPEX & OPEX
• Forecasting revenue and expenses
• The Master Budget overview
• Sales Budget
• Production Budgets
  - Direct Material Budget
  - Direct Labour Budget
  - Overhead Budget
• Cost of Goods Manufactured & Sold Budget
• Selling & Administrative Expense Budget
• Budgeted Income Statement
• Cash Budget
• Budgeted Balance Sheet
• Case Study on Budgeting

Methodologies

It has practical exercises using EXCEL™ to reinforce the concepts and procedures taught.  Included at the end of the workshop is a Case Study on Budgeting so that participants can take away the skill to apply at their workplaces.  A Course Book will be provided.  Participants can each bring along a thumb drive to copy the budget spreadsheets created during the Course.

Programme Trainer

Raymond holds a Bachelor of Business Administration degree from the University of Singapore, as well as a Master of Applied Finance degree from Macquarie University, Sydney.  He has more than 35 years of working and training experience in the areas of accounting and finance.  He will share his past direct experience in the areas of credit and accounts receivable management at a factoring company and financial institutions.

Furthermore, he has conducted numerous training and seminars for training institutions, universities, corporate clients and the public. To make the training interesting, he uses simple daily analogies to explain complex concepts for easy understanding.

Introduction

A company cannot plan unless it understands its costs. By understanding the various facets of the cost accounting process, Managers and Executives will be able to create an efficient cost analysis system to better control and measure an enterprise's business functions and bottom line.

This seminar is designed to discuss the main features of cost and management accounting and its applications in a business enterprise. It is essential for Managers and Executives of a firm to know how cost accounting information can be organised, so that quality decisions could be made. As the focus is on decision making process, participants would not be required to understand the bookkeeping process and the preparation of financial statements.

Key Takeaways

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

• Have an overview of cost and management accounting
  
• Learn the differences between marginal costing and absorption costing
• Understand budgeting and variance analysis
• Learn the application of costing in business decision making
• Know how to apply various analytical techniques to make quality decisions

Who Should Attend

Managers and Executives who do not work in accounting but who need to know how basic accounting work and apply accounting related techniques when making business decisions.

Programme Outline

• Overview of Cost and Management Accounting
  - Differences Between Financial Accounting and Management Accounting
  - Costing Concepts and Purposes
  
  
• Differences Between Marginal Costing and Absorption Costing
  - Gross Profit Concept
  - Contribution Margin Concept
  
  
• Budgeting and Variance Analysis
  - Interpretation of Material Variance
  - Interpretation of Labour Variance
  - Investigation of Variance
  
  
• Application of Costing in Business Decision Making
  - Cost Volume Profit Analysis
  - Acceptance of Special Order
  - Make-or-Buy Decisions
  - Closing or Continuance of a Section or Product
  - Activity Based Costing
  
  
• Cash Flow versus Profit
  - Definition of Profits
  - Subjective Judgments Influencing The Profit Figures  - Accounting Rules Explained – Accrual, Matching and Prudence Concepts
  
  
• Linking the Financial Statements
  - The Link between the Three Financial Statements - Balance Sheet, Profit and Loss Account and Cash FlowStatement.
  - Structure of Cash Flow Statement – Operating Activities, Investing Activities and Financing Activities
  - Preparing The Cash Flow Statement
  
  
• Analysing Business Performance
  - Using The Published Financial Statements of Listed Companies, This Session Demonstrates and Interprets The Financial and Operating Performance of These Enterprises in terms of:
  a. Profitability
  b. Liquidity
  c. Sustainability
  d. Investment Value
  
  
• Cash Flow Budgeting
  - Planning and Developing an Annual Budget
  - Forecasting and Projection of Future Activities – Operating, Investing and Financing Preparing Operating Activity Budgets
  - Preparing Cash Flow Budget
  
  
•  Cash Flow Strategy for Business
  - Key Consideration in Cash Flow Management
  - Factors to be Considered When Designing an Effective Cash Flow System

Methodologies

Presentation, interactive discussion, individual exercises, case studies and group activities.

Note: Each participant needs to bring a calculator for this course.

Programme Trainer

Mr Lim Kaim Soon is a corporate trainer specialising in accounting and financial management.His past appointments include careers in financial control and general management in the banking, insurance, retail and manufacturing industries. He has held management positions as a Financial Controller and a Director for manufacturing companies. He was also in-charge of the group and subsidiaries’ accounting, finance, and investing projects and management, including reporting to the board and statutory bodies in Singapore, Malaysia, Hong Kong, Indonesia.

He holds a Bachelor degree (honours) in Business Administration from the National University of Singapore majoring in finance and investment. He is a fellow member of the Chartered Association of Certified Accountants, UK and has obtained his MBA at the Helsinki School of Economics, Finland.

Introduction

This course provides an insight to enable participants to explore and evaluate the EXCEL in the preparation of accounts for small businesses. It also exposes the participants to using computerised accounting software and cloud computing so that they would be better informed to align with IR4.0.

Key Takeaways

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

• Identify the challenges of traditional accounting
  
• Create and organise a chart of accounts
• Organise the elements of chart of accounts into income statement and statement of financial position
• Identify the non-traditional accounting pathways
• Create a full set of accounts with non-traditional accounting

Who Should Attend

• Accounting employees who are transforming from traditional accounting into computerised accounting environment.
• Anyone (see prerequisite) who wishes to assume or expand their job function into accounting.
  
  Participants must possess acceptable accounting and advanced EXCEL knowledge to benefit optimally from this course.

Programme Outline

• Job description of bookkeeper and accounts assistant
  
• Transition from physical books to EXCEL and thereafter
• Starting with an end in mind
• The accounting architecture
• Setting up the book
• Organising sales transactions
• Organising purchases transactions
• Capturing cash movements
• General journal
• Ledger accounts
• Ledgers and sub-ledgers
• What an accounting software does
• Comparative study of cloud accounting systems
• Crafting an accounting software implementation plan
• Financial statements jigsaw

Methodologies

Mini-lecture, group/pair discussion, debrief, hand-holding and hands-on.

Programme Trainer

Lawrence graduated with a degree in Economics and Japanese Studies from National University of Singapore. He is a Fellow with the Association of Chartered Certified Accountants, (FCCA), a member of the Institute of Singapore Chartered Accountants (ISCA), an Accredited Tax Practitioner (ATP) and a member of Singapore Institute of Directors (SID). He has bagged with him more than 20 years of field experience in accounts, finance, human resources, information technologies and training.

He is ACTA certified and Master in Applied Linguistics at National Institute of Education, Nanyang Technological University.

Introduction

Transitioning from the IT era to the IR4.0, efficiency is the key to survive the global competition. Modern businesses are likely to have accounting software from which data can be downloaded and processed into meaningful financial information. EXCEL is one of the indispensable tools to transform data into reports to address the needs in different business contexts. This course provides a platform for participants to enhance their spreadsheet building skills and encourage them to exploit the EXCEL functions to meet the workplace demands.

Key Takeaways

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

• Reinforce their understanding of financial statements
  
• Experience the walk through of database design for financial reporting
• Formulate the ratios
• Craft a dashboard for executive report

Who Should Attend

Anyone (see prerequisite) who wishes to automate their financial reporting process.

Participants must possess acceptable accounting and advanced EXCEL knowledge to benefit optimally from this course.

Programme Outline

• EXCEL overview
• Data design
• Data retrieval
• Data manipulation
• Advanced EXCEL functions
• Financial statement analysis tools
• Creating a dashboard
• Statement of cash flow
• Corporate finance tools

Methodologies

Mini-lecture, group/pair discussion, debrief, hand-holding and hands-on.

Programme Trainer

Lawrence graduated with a degree in Economics and Japanese Studies from National University of Singapore.  He is a Fellow with the Association of Chartered Certified Accountants, (FCCA), a member of the Institute of Singapore Chartered Accountants (ISCA), an Accredited Tax Practitioner (ATP) and a member of Singapore Institute of Directors (SID). He has bagged with him more than 20 years of field experience in accounts, finance, human resources, information technologies and training.

He is ACTA certified and Master in Applied Linguistics at National Institute of Education, Nanyang Technological University.

Introduction

Our Finance for Non-Finance Professionals workshop introduces Financial Statements at a fundamental level. You will be able to read accounts and understand financial issues after the course.

Financial jargon and concepts will be explained in a down to earth manner. If you are a Professionals or Managers who are required to know and understand Finance this workshop is ideal for you

Key Takeaways

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

• Build a platform to demonstrate the effects of underlying accounting principles on financial statements
  
• Appreciate the interplay of finance and financial management with other stakeholders in the organisation
• Understand the construction of financial statements and analyse them using ratios with the lens of accounting principles
• Identify factors leading to business failure and explore solutions from the finance perspective
• Implement financial controls to enhance proper stewardship/governance to protect interest of stakeholders

Who Should Attend

Anyone who wishes to gain an insight into Financial Management.

Programme Outline

• Underlying Accounting Principles
• Financial Performance Analysis
• Cost-Volume Analysis
• Business Forecast and Budgeting
• Capital Investment
• Business Finance Operations
• Equity and Debt Financing
• Working Capital
• Risk Exposures

Methodologies

Case Studies, Exercises/Quiz and Q&A.

Programme Trainer

Lawrence graduated with a degree in Economics and Japanese Studies from National University of Singapore. He is a Fellow with the Association of Chartered Certified Accountants, (FCCA), a member of the Institute of Singapore Chartered Accountants (ISCA), an Accredited Tax Practitioner (ATP) and a member of Singapore Institute of Directors (SID). He has bagged with him more than 20 years of field experience in accounts, finance, human resources, information technologies and training.

He is ACTA certified and Master in Applied Linguistics at National Institute of Education, Nanyang Technological University.

Introduction

Whether it is a domestic firm or multinational corporation, managing foreign exchange is important. The appreciation or depreciation of foreign currency affects the firm’s profitability and liquidity.

An appreciation of how international trade, business, economic and political developments could impact the exchange rate movement is critical in business strategic planning and control. Therefore, managers and executives in all functions should understand how to interpret the exchange rate, understand how the foreign exchange market works, and introduce effective tools and techniques in managing foreign currencies.

Key Takeaways

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

• Understand the fundamentals of business activities
  
• Identify administrative/ finance functions that are critical to business operations
• Develop a checklist to handle administrative / finance functions
• Learn the fundamentals of GST and Tax filing according to statutory compliance

Who Should Attend

Managers and executives who are not involved in foreign currency dealings and management, but who need to know how foreign exchange work, and apply currency related techniques when making business decisions.

Programme Outline

• Introduction to Foreign Exchange
  - Why firms go international
  - Types of overseas operations
  - Differences between domestic and multinational financial management
  - Current development impacting on foreign currencies
  
  
• Currency Risk Management
  - Financial strategies to guard against foreign currency depreciation
  - Impacts of Changes in Foreign Exchange Rates
  - How to forecast foreign exchange rate
  
  
• Interpreting Foreign Exchange Rate
  - Spot rate
  - Forward exchange rate
  - Direct quote versus indirect quote
  - Differentiation between foreign currency appreciation and depreciation
  - Bid and ask quotations
  
  
• Arbitrage and Hedging
  - Two currency arbitrage
  - Three currency arbitrage
  - Interest rate parity condition and covered interest arbitrage
  - Purchasing power parity conditionaccounts

Methodologies

This workshop uses practical exercises to demonstrate the interpretation of foreign exchange rate, and determine the extent of currency appreciation and depreciation. Methods and techniques of managing foreign currency in business operations will be discussed.

Note: Participants are required to bring calculators.

Programme Trainer

Mr Lim Kaim Soon is a corporate trainer specialising in accounting and financial management.His past appointments include careers in financial control and general management in the banking, insurance, retail and manufacturing industries. He has held management positions as a Financial Controller and a Director for manufacturing companies. He was also in-charge of the group and subsidiaries’ accounting, finance, and investing projects and management, including reporting to the board and statutory bodies in Singapore, Malaysia, Hong Kong, Indonesia.

He holds a Bachelor degree (honours) in Business Administration from the National University of Singapore majoring in finance and investment. He is a fellow member of the Chartered Association of Certified Accountants, UK and has obtained his MBA at the Helsinki School of Economics, Finland.

Introduction

In today’s business world, understanding the finance and accounting knowledge is no longer an option for Management and Executives. Indeed, organisation will be able to perform better and achieve superior results if all staff in the organisation is able to apply relevant finance and accounting tools in their jobs and functions.

There is a growing trend to work in multi-disciplinary teams where knowledge of the core Finance, Accounting and Cost Concepts is necessary to achieve a common level of understanding and communication in relation to shared objectives and corporate drivers.

Those who need to make presentations to Board of Committees will benefit from knowing some of the key financial concepts in order that they can present their ideas with a high level of financial authority. The course is designed to discuss the main features of the financial statements prepared by a business enterprise.

Key Takeaways

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

• Understand the meaning and fundamental structure of the financial statements
  
• Learn the inter-relationship of the items in the statements
• Learn to apply the key management ratios to evaluate the strengths and weaknesses of the business operations
• Know how to apply various analytical techniques to examine the performance of the business operation

Who Should Attend

Managers and Executives who do not work in accounting but who need to know how basic accounting work and apply accounting related techniques when making business decisions.

Programme Outline

• What You Want to Know about the Financial Statements?
  - Nature and Role of Accounting
  - Desirable Qualities of a Financial Report
  - Accounting as an Information System
  - Financial and Management Accounting Compared
  - Fundamental Accounting Assumptions
  - Accounting Policies
  - Objectives of Financial Statements. User Groups and their Areas of Interest
  
  
• Balance Sheet
  - Source and Use of Funds Approach
  - Vertical Format Presentation
  - Current Assets
  - Fixed Assets
  - Liabilities
  - Shareholders’ Funds
  - Capital Employed
  - Net Worth
  - Working Capital
  - Long and Short Balance Sheet Analysis.
  - Profit and Loss Account
  - Timing Adjustments
  - Distribution or Appropriation of Profits
  - Cash Flow Statement
  - Cash Flow Statement
  - Operating Cash Cycle
  - Relationship Between Depreciation and Cash Flow
  - Non-Operating Cash Outflows and Inflows
  
  
• Interpretation of Auditors’ Reports
  - Objectives and Scope of Audit
  - Reasonable Assurance
  - True and Fair View
  - Auditors Opinion
  - Unqualified
  - Emphasis of Matters
  - Qualified
  - Disclaimer
  - Adverse Opinion
  
  
• Analysing Performance of an Enterprise – Part 1
  - Liquidity Ratios
  - Importance of Liquidity
  - Application, Case Study and Interpretation Techniques
  - Profitability Ratios
  - Importance of Profitability
  - Meaning of Return on Investment (ROI)
  - Drivers of Margin on Sales
  - Drivers of Sales to Total Assets
  - Operating Profit Model
  - Application, Case Study and Interpretation Techniques
  - Solvency Ratios
  - Importance of Solvency
  - Application, Case Study and Interpretation Techniques
  
  
• Analysing Performance of an Enterprise - Part 2
  - Asset Management Ratios
  - Importance of Asset Management
  - Application, Case Study and Interpretation Techniques
  - Stock Market Ratios
  - Application, Case Study and Interpretation Techniques
  - Competitor Analysis
  - Approaches and Techniques of Conducting Competitor or Industrial Analysis

Methodologies

Presentation, interactive discussion, individual exercises, case studies and group activities. Published corporate information and recent corporate development both local and overseas will be used to provide “real-life” examples.

Note: Each participant needs to bring calculator for this course.Participants may bring financial statements and annual reports of corporations to the workshop for discussion and analysis.

Programme Trainer

Mr Lim Kaim Soon is a corporate trainer specialising in accounting and financial management.His past appointments include careers in financial control and general management in the banking, insurance, retail and manufacturing industries. He has held management positions as a Financial Controller and a Director for manufacturing companies. He was also in-charge of the group and subsidiaries’ accounting, finance, and investing projects and management, including reporting to the board and statutory bodies in Singapore, Malaysia, Hong Kong, Indonesia.

He holds a Bachelor degree (honours) in Business Administration from the National University of Singapore majoring in finance and investment. He is a fellow member of the Chartered Association of Certified Accountants, UK and has obtained his MBA at the Helsinki School of Economics, Finland.