Friday, September 28, 2012
Accounting Course for Assessors
As part of our ongoing collaboration with the Malaysian Productivity Corporation (MPC), the Accounting Research Institute (ARI) conducted a one-day accounting program for assessors. Basically, the two groups of assessors who attended the program comprised of: (i) MPC assessors who assess the Quality Management Excellence Award (QMEA) and (ii) PROTON assessors who assess Vendor Quality Award. Basic Accounting Course for assessors is divided into three important parts. The first part examines key ratios which include (i) Return on Equity, (ii) Liquidity, (iii) Profitability, (iv) Asset Management and (v) Leverage. The second part covers comparative analysis of the company's performance via Horizontal and Vertical Analyses. Ration analysis on it own is meaningless unless it is benchmarked with the best in the industry or compared with previous years' performance. The third part of the course reviews management accounting techniques that should be adopted by companies to assist management to either control costs or to make the most strategic decision. In the afternoon, participants had to choose a company for them to evaluate. Based on what they have learned, they need to assess the financial performance of the company.