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Accounting Course for Non-Finance Professionals

This course is designed to provide non-finance officers with a fundamental understanding of the important accounting principles and practices. Participants will learn the basics of financial accounting, including how to interpret financial statements, analyse financial data, and make informed business decisions. This course will also cover some important concepts on budgeting, costing and breakeven analysis.

Objective

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

• Understand the role of accounting in decision-making and strategic planning.
• Know the key differences and requirements of Financial Accounting, Management Accounting, Tax Planning and Audit.
• Understand the basic principles and concepts of accounting.
• Understand the basics of accounting (Assets, Liabilities, Income, Capital and Expenses).
• Connect the different dots in the different financial statements (Balance Sheet, Income Statement, Cash Flow Statement and Notes to the Accounts).
• Use financial information to effectively assess the financial health of any business.
• Appreciate how budgeting can contribute towards better resource management.
• Perform cost analysis to identify areas for cost reduction and improvement.
• Develop the necessary skills to better communicate with financial professionals and stakeholders hence contributing to the financial success of their organization.

Outline

1. Role of Accounting

• Purpose of Accounting
• Application of Accounting
  o Financial Accounting
  o Management Accounting
  o Tax Planning
  o Audit

2. Basic Principles and Concepts of Accounting

• Rationale for preparing the accounts in a certain manner (Accounting Principles)
  o Going Concern
  o Prudence
  o Matching
  o Accrual and Provision
  o Historical Cost
• Key Accounting Terms
  o Assets
  o Liabilities
  o Capital
  o Income
  o Expenses

3. Financial Statements

• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Accounts

4. Assessing Financial Health via Ratios

• Types of Financial Ratios
• Applying these ratios to business scenarios

5. Basics of Budgeting

• Purpose and Process
• Good Practices in Budgeting

6. Cost Analysis

• Types of Costs
• Achieving Cost Reduction and Improvement
• Breakeven Point Analysis

Who should attend

Participants with minimal accounting knowledge and who want to improve their financial knowledge and acumen

Methodology

o Presentation by lecturer
o Group discussion of assigned cases and presentation of discussion points, with focus on practical application of the concepts

Testimonials

Profile of Koh Gim Liong

Trainer & Consultant
CA (Singapore), CFA Chartholder
Associate Adult Educator (Institute of Adult Learning)
Member, CFA Society Singapore


Koh Gim Liong has worked in the civil service and private sector for more than 10 years before his career switch to training. His experience is diversified and covers training, financial advisory, project management, ERP implementation, business process re-engineering, auditing, financial and operations management.

He began his career as an auditor in an international accounting firm before joining the public sector as an accountant in the Accountant-General’s Department, Ministry of Finance. Subsequently, he was posted to the Singapore Police Force and put in charge of the finance operations and implementation of key financial initiatives. At the Ministry of Education, he was managing the budget and evaluating budget proposals. Gim Liong also worked in a listed financial institution where he led the team responsible for accounting (covering operations, acquisitions and investment products).

In the area of training, Gim Liong has facilitated more than 1,000 workshops with learners from more than 10 countries Over the past 18 years, he has been sharing his knowledge and experience in areas like financial advisory, accounting, investing, budgeting, procurement, outsourcing as well as the governance and policy-related framework in the Singapore public sector. He has extensive experience in managing learners with diverse cultures and backgrounds, given his interactions with participants from countries in ASEAN, Middle East, India, Pakistan, Russia, China, Bhutan, etc. Outside Singapore, he has conducted programmes in Cambodia, Laos, Myanmar, Vietnam, Nauru, Palestine, Jordan and Qatar. On professional courses, he has taught CFA Level 1 Preparatory Programme and Financial Accounting (both English and Mandarin) and Management Accounting. With deep experience in the curation and development of blended courses (e-Learning with classroom/virtual training), he has contributed to the development of several new milestone programmes for public officers and also partnered with an established training service provider on the successful rollout of a Singapore Workforce Skills Qualifications (WSQ) programme on budgeting.

Gim Liong graduated with a Bachelor’s degree in Accountancy (Hons) (Nanyang Technological University). He is a Chartered Accountant of Singapore and Chartered Financial Analyst (CFA) holder. His passion for learning has also led to him obtaining certificates in insurance and investments (awarded by the Singapore College of Insurance), Advanced Certificate in Training and Assessment (Facilitated Learning) (ACTA), Enneagram and Neuro Linguistic Programming. In recognition of his significant experience and contribution in training delivery, Gim Liong has received the Associate Excellence Award from Civil Service College in 2018 and 2022 and is currently an Associate Adult Educator (Institute of Adult Learning).