Business Essentails - Maintaing accounting records and statutory compliance
Course Description
This 2-day workshop is designed for new company owners and administrators with limited accounting experience. It provides essential knowledge on maintaining proper accounting records and complying with statutory requirements under the Companies Act. Participants will learn what documents to keep, how to organize financial records, and how to prepare for annual reporting obligations. Practical demonstrations using MYOB will illustrate effective record-keeping practices.
Course Objectives
By the end of this course, participants will be able to:
- Understand statutory and compliance requirements.
- Use fundamental accounting terms and concepts.
- Read and prepare basic financial statements.
- Identify key records and retention periods.
- Apply record-keeping processes using MYOB.
- Perform bank reconciliations and understand basic disclosures.
- Manage annual reporting and AGM requirements.
Methodology
A practical, interactive approach combining:
- Learner-centric and interactive lectures
- Presentation and scenario-based learning
- Hands-on software demonstrations
- Group activities, discussions, and reflections
Duration
2 days
Target Audience
Supervisors, managers, team leaders, professionals in the business environment, and aspiring students.
Course Fees
$450
Payment Methods
Cash, Cheque
SkillsFuture
CRS-N-0042002
Course Outline
Day 1
9:00am – 10:30am
- Statutory requirements – Deadlines to watch out
- Introduction – Accounting is the language of business
- Common terms in financial statements
10:30am – 11:00am – Tea Break
11:00am – 12:30pm – Introducing basic financial statements – Balance Sheets, income statements and cash flow statements
12:30pm – 1:30pm – Lunch
1:30pm – 2:30pm – Review (Go through the common financial terms in the basic financial statements that was introduced)
2:30pm – 3:00pm – What are the source documents and accounting records to keep
3:00pm – 3:30pm – Tea break
3:30pm – 5:00pm – Walk through the accounting process with MYOB
Day 2
9:00am – 10:00am – Review (MYOB system)
10:00am – 10:30am – Tea Break
10:30am – 12:00pm – Bank reconciliation as basic financial control
12:00pm – 1:00pm – Lunch
1:00pm – 2:00pm – The complied accounts and information that must be disclosed in the accounts
2:00pm – 3:30pm – Annual General Meeting Process
3:30pm – 4:00pm – Tea break
4:00pm – 5:00pm – Assessment
Take the Next Step
Register today and discover how cloud accounting can empower your business for smarter, faster, and more efficient financial management.