Event Date: 24 July 2017
Event Time: 9am – 5pm
Location: 2 Bukit Merah Central
By Kevin Lee, Associate Trainer
Fees: S$420.00 (GST will not be applicable) – Skillsfuture Approved or PIC claimable of up to 40%
Analyzing employee cost object – personnel cost planning
This 1-day workshop will provide HR personnel (who have no or very limited 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 HR perspective.
At the end of the workshop, participants will be able to have a basic understanding of Finance and Accounting practices and The Accounting Standards Act. Through this program, it also introduces the language and basic principles of accounting. Anyone with little or no financial training or experience can learn to use the language and tools of finance. Complex accounting and finance principles are presented in practical, understandable terms in a friendly, supportive environment. You will be able to return to your organization with the confidence to analyze financial information and participate fully in making business decisions. Master the must-know fundamentals of finance and accounting in this intensive course developed exclusively for senior non-financial managers.
Cash basis vs. accrual accounting
Defining accounting and finance terms
- An overview of Balance Sheet, Profit & Loss, Cashflow statement, etc.
- What is the difference between depreciation, journals, adjustments, etc.? What does it mean by “closing”?
- What is accrual, prepayment, etc
- Managerial vs. financial accounting
- The difference between audited and unaudited financial reports
- Understanding the complete accounting cycle, from recording transactions to reporting results Analyzing /reading Financial Statements
- Reading annual reports
- Interpreting the balance sheet, income statement and cash flow statements
- Identifying key limitations of financial reporting Financial Planning and Forecasting for an HR Department
- The Differences between a Budget and a Forecast
Additional issues: War stories on “What are my legal obligations”?
Kevin 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® (睿鉴 隴西)” 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), the Australian Institute of Company Directors (MAICD, Australia), a fellow member of the Association of Chartered Certified Accountants (ACCA, UK), a fellow member of the Malaysian Institute of Management (MIM, Malaysia) and an Associate member of the Certified Fraud Examiners (ACFE, Texas, the USA).He graduated from the SIM University with a Master of Taxation (MTax), the London School of Economics and Political Science (LSE), University of London with a BSc (Hons) in Economics and Management and an executive diploma in directorship from Singapore Management University (SMU).Kevin Lee has been an ACTA trained facilitator (by the Institute of Adult Learning).
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