Human Resource Accounting for HR Personnel

Event Date: 29 March 2019
Event Time: 9am – 5pm
Location: AQueen Hotel at Paya Lebar

By Kevin Lee, Associate Trainer
Fees: S$490.00 (GST will not be applicable) – Includes buffet lunch and 2 tea breaks

This 1-day workshop will provide HR personnel (who have no or minimal accounting knowledge) a basic understanding of Finance and Accounting practices and help them to read the financial statements to assess various aspects of the business performance and risks from a quantitative perspective. This course also provides a basic understanding of how to use ratio analysis for evaluating financial performance and how to analyze a financial plan (budgeted financial statements).  After which, it will discuss some of the problems associated with budgeting along with “best practices” in budgeting from the HR perspective. Human resource accounting involves the tracking of all costs related to employees in a separate report. These costs may include the following:

Upon course completion, one would be able to:

  • Understand – different between financial reporting and management reporting
  • describe the relationship between financial accounting data and management accounting data
  • Differentiate between profit and cost center (roles, functions, and responsibilities)
  • Explain why cost accounting is needed for there to be an effective management accounting system (HR management)
  • Explain why budgets are prepared
  • Describe the role of management accountants in the budgetary process
  • Compute simple cost per employee
  • Apply the techniques to evaluate staff performance
  • Identify the tax issues associated with employee benefits.

Course Outline

  • Introduction to double entry bookkeeping
  • The Accounting System
  • Accounting Books and Adjustments
  • Cost Reduction Concepts
  • Classification of Costs
  • Cost per employee
  • Cost-Volume-Profit Analysis and Decision-making analysis for recruitment, remuneration package and compensation settlement
  • Human Resources Budgeting
  • Budgetary Controls
  • Principal budget factor
  • Explain the purpose of budgeting as a tool for planning and control for an HR manager
  • Behavioral aspects of preparing and managing budgets
  • Employee compensation
  • Employee payroll taxes
  • Employee benefits

Workshop Leader

Kevin has been specializing in mentoring students and blended teaching methods on various accounting, tax and advanced excel reporting subjects at the multiple levels since 2012.  Over the years, many of his participants have benefited from his sharing and students have graduated with first-class honor. He formed his professional boutique consultancy and advisory firm specializing in corporate structuring and restructuring, enterprise tax risk management and corporate advisory services under the brand name “RYSAAC® in early 2006. Kevin is a full member of the Chartered Professional Accountants of British Columbia and Canada, (CPA, CGA, British Columbia, Canada), the Institute of Singapore Chartered Accountants (ISCA, Singapore),  the Singapore Institute of Accredited Tax Professionals (SIATP, Singapore), and a fellow member of the Association of Chartered Certified Accountants (ACCA, UK). Kevin has been an ACTA trained facilitator (by the Institute for Adult Learning Singapore) since 2012.

Click here to register.