Basic Understanding of Principles of Accounting for HR Personnel

Event Date:  To Be Announced
Event Time: 9am – 5pm – (Includes buffet lunch, and 2 tea breaks)
Location: AQueen Hotel at Paya Lebar

By Kevin Lee, Associate Trainer
Fees: S$495.00 (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 statement.

Upon course completion, one would be able to:

  • Identify the purpose of accounts
  • Explain why businesses produce financial statements
  • Understand the role and types of source documents.
  • Identify the reasons why books of prime entry are used.
  • Use the sales and purchase day books, and the cash book and the petty cash book
  • State and use the accounting equation and the business equation.
  • Understand the principles of debits and credits (double entry bookkeeping)
  • Prepare an income statement and Statement of Financial Position from a trial balance
  • Account for the cost of Non-Current Assets (CAPEX expenditure).
  • Calculate and account for depreciation and disposal of Non-Current Assets.
  • Identify the key issues regarding inventory taking.
  • Understand that Inventory should be valued at the lower of cost and net realizable value.
  • Determine the cost of Inventory using FIFO and AVCO.
  • Apply the accruals concept to income.
  • Prepare a basic set of financial statements for companies.
  • Appreciate the difference between profit and cash flow.
  • Understand the importance of ratios as a means of understanding accounts.

Course Outline

  1. Introduction to Accounts
  2. Recording Transactions
  3. Ledger and Double Entry
  4. Preparing the Financial Statements for Sole Traders
  5. Non-Current Assets
  6. Inventory
  7. Receivables and Accruals & Prepayments
  8. Company Accounts
  9. Statement of Cash Flows
  10. Interpreting Financial Statements

Workshop Leader

Kevin Lee, FCCA (UK), CPA, CGA (Canada), MSc (London, UK), MTax (Singapore)

Kevin specialise in providing actionable advice, compliance documentation, and systems advice to small to medium businesses as a senior finance professional in many different industries in SE Asia and Australia. He works closely with business and professional firms assisting them with technical aspects of FRS and international tax. He is currently the Head of Tax of a practise who has more than two decades of serving the business community. Kevin has more than 10 years of exam preparation teaching experience, has also consistently maintained high pass rates for the various exam preparatory courses. He also marks exams, write questions and do other work for academic institutions (Motivational revision lessons). Collaborated strategically with several professional firms, including audit firms, management consultancy and corporate advisory companies and a global company that provides information, software, and services to professionals in four main areas: healthcare, tax, law and finance, management consultancy and corporate advisory companies to adequately provide international tax services, including Goods and Services Tax (GST). 

Click here to register.