Finance & Operations Academy

Objectives

In this workshop, we will take you through all that you need to know in order to prepare a cash flow statement in accordance with MFRS 107 Statement of Cash Flows.

Outcome

Ability to produce a statement of cash flows which is a valuable reporting tool used or relied by various stakeholders to make informed decisions especially those surrounding liquidity and going concern of a business.

Agenda/topics covered?

• Why is the definition of 'cash & cash equivalents' so tricky to apply in practice?
• What is the difference between 'direct' & 'indirect' method of reporting cash flows from operating activities?
• How to meet the amended MFRS 107 Disclosure Requirement of changes in Liabilities arising from financing activities?
• In what circumstances could cash flows related to taxation, acquisition and disposal of equity investments and leases under MFRS 16 be classified as either operating, investing or financing cash flows?
• Should cash flows be presented on a gross or net basis?
• What are the cash flow statement complexities that could arise with regards to intergroup transactions or transactions with your joint ventures or associates?

Duration: 0.5 day

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts'
• Regulators, academicians and accountancy students
  

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

In this workshop, we aim to provide a clear understanding of how consolidation process works, what are some of the common practical complexities illustrated with worked examples and how investments in associates and join ventures are accounted for.

Outcome

Ability to prepare a set of a consolidated financial statements taking into account some of the complex areas that may involve judgements and estimates.

Agenda/topics covered?

• What is the concept of control and why is it critical to as the first step of accounting for an investment?
• What are the implications of a subsidiary having a different accounting policy from its parent?
• Must a subsidiary always have the identical reporting date as its parent?
• Why is it important to properly account for upstream or downstream intragroup transactions when preparing consolidation adjustments?
• What are the deferred tax considerations that must be taken into account when preparing consolidation adjustments?
• Why is consolidating a foreign subsidiary complex?
• Do transactions with a company’s non-controlling interest result in impact to the company’s income statement?
• What are the practical challenges in applying equity accounting to an investment in an associate? What are the relevant tax implications?
• Why is it tricky to apply accounting guidance to determine whether significant influence or joint control exists?
• What do you need to consider if you have a long term loan to an associate when performing equity accounting adjustments?

Duration: 1 day or 1.5 days

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

In this workshop, we aim to walk you through a comprehensive step-by-step approach to solving your deferred tax problems. We will take you through the process of determining tax bases, identifying temporary differences, computing deferred taxes, and all the way through to recording the journal entries using practical examples. We will also discuss the offsetting rules and disclosures.

Outcome

A good application of the deferred tax concept will reflect a fairer picture of your company's future tax exposure.

Agenda/topics covered?

• How do the deferred tax rules apply to leases under MFRS 16 Leases?
• What affects deferred tax in intra-group sales and transfer of assets?
• Do entities need to provide for deferred tax on investments in subsidiaries, associates and joint ventures?
• Is there a different deferred tax outcome for a business combination vs. an asset acquisition?
• Why is deferred tax asset recognition so judgemental and how to assess whether there is ‘convincing evidence’ of future taxable profits?
• What are the deferred tax considerations for tax incentives such as investment tax allowances, reinvestment tax allowances, accelerated deductions and tax holiday period?

Duration: 1 day or 1.5 days

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

In this workshop, we aim to highlight and illustrate scenarios when a company increases or decreases its shareholding in an investment and the potential impact that may arise, including the immediate impact to profit or loss. Changing a stake in an investment can take various forms, for example:

• increasing a stake in an investment in associate to an investment in joint venture or subsidiary (“step up”); or
• decreasing a stake in an investment in subsidiary to an investment in joint venture or associate (“step down”).

Outcome

A better understanding of how acquisitions and divestments of equity instruments may have on financial statements and what needs to be considered before entering into such transactions.

Agenda/topics covered?

• What are the different investment categories under various MFRS and why is it critical to accounting for any acquisition or disposal of investments?
• How to develop an accounting policy in situations not covered by MFRS such as increasing an investment in associate (which remains an associate post acquisition)?
• Do you need to perform or obtain fair value of your investment for each and every time you change your ownership percentage in that investment?
• When do you need to apply MFRS 5 Non-current Assets Held for Sale and Discontinued Operations when you are committed to a plan to sell an investment?
• What are the requirements to restate comparatives under MFRS 5?

Duration: 1 day

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students
   

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

The course aims to enhance and reinforce the current knowledge of those charged with preparing the financial reports and to ensure that they are in compliance with the latest financial reporting standards. Common errors observed in financial reports will also be shared.

Outcome

A deeper and reinforced understanding of complying with the required accounting rules as well as a reminder of the lessons learnt from some of the errors commonly made by preparers.

Agenda/topics covered?

• Significance of financial statements
• Components of financial statements
• Income and expenses
• Non-financial assets 
• Specialised activities
• Group financial statements
• Financial instruments 
• Non-financial liabilities
• Other disclosures
• Common errors made by preparers

Duration: 2 days

Delivery mode: Classroom/Virtual

Target audience

• SME Finance directors
• SME Finance senior management 
• SME Finance managers/executives 

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

• understand and apply the elements of a transparent, flexible and professionally presented financial model
• understand and apply commonly used Excel formulae
• understand basic accounting relationships, and
• build a financial model from scratch

Outcome

Understanding of modelling best practices, and equipping the participants with the relevant technical knowledge to start building their own financial model.

Agenda/topics covered?

• The modelling process
• Modelling best practices
• Case Study: demonstration by instructors and hands-on practice for the participants
• Role Play: to experience how a finanical model is used as a tool in decision-making process

Duration: 1.5 day

Delivery mode: Virtual

Target audience

• Mid-management level and below
• Finance and tax managers/executives
• Financial analysts'

Objectives

In this workshop, we aim to provide a clearer understanding (from a lessee’s perspective) that there is more intricacy and complexity to MFRS 16 than just introducing a lease liability and right-of-use asset (“RoU”) to the balance sheet. For lessors, understanding whether MFRS 16 would apply to a contract is critical to a lessor’s business. Gain better insights as we dive into MFRS 16 to examine the details of how it impacts the financial reporting of lessee and lessors.

Outcome

A better reflection of your company's leasing activities, knowing how to account for your leased assets and lease liabilties and some of the complex leasing arrangements that may have implications to your financial statements.

Agenda/topics covered?

• Why is it important for both lessees and lessors to apply the definition of a lease correctly? 
• How should RoU be tested for impairment? 
• Does accounting for sub-leases make sense when both lessor and lessee recognise assets on their respective balance sheets? 
• How should a lease contract be bifurcated when it contains nonlease components? 
• When should a lease liability be re-measured? 
• How should the principle in both MFRS 15 and MFRS 16 be applied in a sales and leaseback transaction? 
• How does each transition option impact future P&L?

Duration: 1 day

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

In this workshop, we aim to provide insight on how loan renegotiation could impact the profit or loss of your company on the effective
date of the renegotiated loan as well as in the future. Gain insight on the accounting implications of a loan renegotiation under MFRS 9, as
well as capitalisation of borrowing costs.

Outcome

A better understanding of the financial impact from loan negotiations and what can be planned ahead as well as appreciating the rules of borrowing cost capitalisation for qualifying assets.

Agenda/topics covered?

• Loan modification vs extinguishment
• Refinancing with own equity instruments
• Treatment of costs and fees incurred
• Capitalisation of borrowing costs is not a choice

Duration: 1 day

Delivery mode: Classroom/Virtual

Target audience

• Finance Directors
• Tax Controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)

Objectives

To provide an overview of Strategic Sourcing and how to get the best deal for your organisation

Outcome

Understanding of factors that impact supplier negotiation

Agenda/topics covered?

• What is Strategic Sourcing?
• What do you need to think about?
• Negotiation strategies
• Case Study

Duration: 1 - 2 days

Delivery mode: Classroom/Virtual

Target audience

• Heads of Procurement
• Procurement Managers

Objectives

To provide an overview of how to understand corporate purchasing behaviour and the potential impact to your business.

Outcome

Clear understanding of how purchasing behaviours can have a positive and negative business impact.

Agenda/topics covered?

• What is Purchase Compliance?
• What are Purchasing Channels?
• Business Impact

Duration: 0.5 - 1 days

Delivery mode: Classroom/Virtual

Target audience

• Heads of Procurement
• Procurement Managers

Objectives

Provide an overview of how contracts can be a real enabler to realising sustainable value at a 'supplier contract level'.

Outcome

Clear understanding of how contracts can deliver sustainable value to your organisation.

Agenda/topics covered?

• Defintion of Contract management
• Desired Outcomes
• Typical Pitfalls
• How this is linked to Supplier Management

Duration: 0.5 - 1 day

Delivery mode: Classroom/Virtual

Target audience

• Heads of Procurement
• Procurement Managers

Objectives

Provide an overview of how the Procurement team becomes a 'strategic enabler' that manages suppliers to meet group objectives.

Outcome

Initial understanding of how effective supplier relationship management can support your corporate strategy.

Agenda/topics covered?

• What is Supplier Relationship Management?
• How does it add value?

Duration: 0.5 - 1 day

Delivery mode: Classroom/Virtual

Target audience

• Heads of Procurement
• Procurement Managers

Objectives

• Understand how and where to improve processes
• Provide key elements of how to facilitate a process improvement workshop

Outcome

Clear understanding of how to map processes, how to identify inefficiencies, and initial training on how to run a process workshop.

Agenda/topics covered?

• What is process improvement?
• How to identify inefficiencies?
• How to facilitate a process improvement workshop?
• What else do you need to do to 'make change stick'

Duration: 2 days

Delivery mode: Classroom/Virtual

Target audience

• Functional leads
• Operations Managers

Objectives

• Provide a clear understanding of the elements that define a Sustainable Supply Chain
• Run through the potential benefits of developing a Sustainable Supply Chain

Outcome

Understanding the future benefits of Sustainable Supply Chains.

Agenda/topics covered?

• What is Sustainable Supply Chain?
• What are the benefits of a Sustainable Supply Chain?

Duration: 0.5 - 1 day

Delivery mode: Classroom/Virtual

Target audience

• Heads of Supply Chain
• CSR Manager
• Heads of Corporate Comms
• CFOs
• COOs

Objectives

The course aims to provide SMEs better understanding of how to read, interpret financial terms presented and disclosed in a set of financial statements as well as how to analyse some of the common key financial performance ratios to be able to make informed business decisions. The course also covers cash flow management, investment appraisal as well as monitoring budgets.

Outcome

A better understanding of the business financial performance and position as well as managing cash flows, budgets and channeling their funds into profitable investments.

Agenda/topics covered?

• Significance of financial statements and its components
• Performing financial analysis
• Cash operating cycle and how to manage it
• How to perform inventory costing 
• How to appraise investments and what are some of the investment appraisal tools
• Managing foreign currency exposures
• How to do good budgeting and monitor it
• What are some of the potential warning signals that may arise from financial statements
• Other impacts of COVID-19 on financial reporting
• Tax considerations

Duration: 2 days

Delivery mode: Classroom/Virtual

Target audience

• SME owners / directors
• SME Finance senior management
• SME Finance and tax managers/executives
• Regulators, academicians and accountancy students
  

Prof. associations recognising PwC CPE points

• Malaysian Institute of Accountants (MIA)
• Malaysian Institute of Certified Public Accountants (MICPA)
• Association of Chartered Certified Accountants (ACCA)