https://otc.com.my/public-programs/handling-full-set-accounts-course-8-9-dec-2025-hybrid/

Course objective

On completion of the programme, participants will be able to:

1. Understand the purpose of accounting (communication, not confusion)

2. Understand the accounting process, the accounting equation, debits and credits double entries for assets, liabilities, revenue or gains and expenses and losses.

3. Understand the steps performed in the accounting process via the accounting cycle for revenue, cost, expense, assets and liabilities recording

4. Understand requirement of Inland Revenue Board Malaysia (IRBM) E-invoicing issuance for both sales and purchases transactions for documentation.

5. Knowing the source documents in the sales cycle and purchases cycle

6. Ability to comprehend the purpose of financial statement and the methods that accounting events are recorded as transaction.

7. Understanding the basics on how to analyse financial statements for decision making purposes.

8. Understanding and performing double entries for adjusting entries: depreciation, accruals, correction of entries and prepayments

9. Understand basics of budgeting, budgeting cycle and preparation of budgetary financial statements.

10. Understand and apply the requirements of ensuring proper documentation for audit and related tax computation.

TRAINING APPROACH

Where appropriate, activities will include the following:

• Interactive Lecture & Video

• Faciliated Group Discussions

• Hands on practical exercises, accounts analysis and case studies

• Hands on manual e-invoice issuance via company MyTax

Tools required: Participants will be required to bring laptops for session of accounting practices using excel and accounting software.

WHO SHOULD ATTEND

Accounts Clerks, Accounts Assistant, Costing Clerks, New Accounting personnel.

Course Content

The key content of the program include the following : 

Module 1: Mastering the principles

• Understand the purpose of accounting

• Understand the accounting process and the accounting equation

• Understand essential accounting rules and debits and credits principles and its applications

• Understand accrual accounting principles and cash accounting

• Understand the format of trial balance, income statement (Statement of Profit or Loss) of various enterprises and balance sheet (Statement of Financial Position).

• Understand and apply accounting principles such as going concern, matching concept and consistency concept when recording transactions.

Module 2: Recording and presenting financial data

• Overview of general journal and types of entries, cashbook, bank reconciliation, and petty cash record.

• Recording revenue/Sales via Biling and Accounts Receivables Customer module Impact of Malaysia e-invoice required by LHDN

• Steps in issuing sales e-invoice for various business transactions – B2B, B2C and B2G

• How to obtain company Taxpayer Identification Number (TIN) based on business registration for B2B customers in accounting software or myTax

• How to assess company myTax dashboard for e-invoices issued via accounting software integration?

• Importance of generating Trade receivables (AR) aging analysis for year end audit

• Overview and understanding sales and purchases journals and reconciliations of debtors and creditors

• Perform daily and monthly routines

• What is Accounting for year-end adjustments?

• Extract a trial balance and draft a balance sheet and income statement

• Inventory module in accounting transactions

  • What is inventory control and how does the control system works?

  • How Inventory Works & how it interacts with General Ledger

  • Different Valuation Methods of Inventory: FIFO, LIFO & Weighted Average

  • Advantages & Disadvantages of Method of Valuation.

• Recording Cost of Sales/Services

• Accounts payable module and suppliers’ maintenance

• Importance of obtaining LHDN validated e-invoice from suppliers after 1 July 2025.

• AP balance report – Meaning and analysis

Module 3: Understanding and performing common adjusting entries

• Account for non-routine transactions:

  • Depreciation

  • Acquisition and disposal of assets

  • Bad and doubtful debts

  • Provisions and accruals

Module 4: Year-end procedures

• Understand year end procedures for:

• Income Tax and SST tax

  • Non-current (fixed) assets records update

  • Other year end entries

Module 5: Financial Statements and Financial Analysis

• Prepare and interpret the typical financial reports

  • Statement of Comprehensive Income (Profit and Loss Statement)

  • Statement of Financial Position (Balance Sheet Statement)

  • Statement of Cash flow

  • Receivables aging report.

  • Perform basic ratio analysis

Module 6: Budgeting Basics in Accounting

• Overview of Budgeting

• Sales and Collection Budget

• Material Purchases Budget

• Labour Budget

• Overhead Budget

• Cash Budget

• Budgeted Income Statement & Balance Sheet

• Case Study Learning Activity

Module 7: Preparing for tax computation

• Key tax submission deadlines for various forms of business

• Preparation of documents which include e-invoices

• Mechanics of corporate tax computation and document supporting request for audit and tax computation

• Commonly asked questions from tax agent

• Withholding tax submission

• Sales and service tax accounts submission and procedures.