31 May, by Michael M Lee
We conduct public seminars, corporate in-house training and term courses. Our programmes are conducted by highly qualified facilitators / trainers with requisite corporate/industry experience.
In-house training can be tailored to the needs and requirements of the company involved.
The scope of consultancy is wide-ranging, from resolution of a corporate issue/problem to special projects. Most consultancy work will require expertise from other professional disciplines and we shall work and coordinate with these professionals to achieve the objective(s) of the exercise.
– Enhance the understanding and appreciation of Accounting and Finance in the public and professional sectors through training, seminars and coaching
– Companies resolve management issues and problems in Accounting and Finance
-Companies which require business valuation services
Traditional accounting & finance centres on the entity concept where the firm owns assets and owes equity & liabilities. This approach has its limitations as it does not open our minds to the acquisition and application of economic resources. I prefer to use the approach I called the ”Economic Resources Approach to Accounting” (ERAA), which encapsulates funding and operating resources, the cost of resources (capital), the flow of resources, the utilization of resources, leading to the capture of business values represented by discounted cash flows generated by operating resources. The ERAA approach will enhance the understanding of Financial Planning & Analysis (FPA) from the viewpoint of economic resources.
This is a 2-day course packaged for operational and functional managers and senior managers who have only some knowledge of accounting and finance, but who need to understand finance to be able to perform their jobs better and/or to interface with Finance department staff. It is also designed for professionals who need a good working knowledge of Finance to apply in their job.
This course is different from any other as it firstly, covers primarily how to interpret the key components of the Cashflow Statement and a profound analysis of each, applying a 7-step procedure, leading to unlocking cashflows for corporate growth.
Secondly, it teaches how to decipher past trends in cashflows, applying a 5-step procedure, leading to an enlightened appreciation of how a growing and sustainable cashflow can be managed.
This 2-day course teaches the participant how to design a financial model using simple Excel functions and how to determine the variables that are required for analysis.
The Finance Leaders’ job is the most challenging and onerous in any company, especially in a public-listed one. Most Finance Leaders (Finance Directors, CFO, Finance Managers, Finance Supervisors and the like) are promoted from within the company, and the overriding difficulty is that incumbent does not have the full knowledge of the role and functions of the next level and how to execute them professionally. Admittedly, in SMEs, the finance manager may have to function like a CFO.
This Bootcamp is therefore designed to enhance these knowledge and skillsets and fill gaps, enabling the Finance Leader to function confidently and execute corporate finance activities professionally. It is a hugely experienced- based as case studies are drawn/adapted from actual cases managed by the trainer over his more than 40 years of corporate experience as Group CFO and CXO of both large Main Board listed companies and non-listed companies.
This Masterclass is designed to fill these gaps and enable the Finance Manager to function confidently and even deliver performance beyond expectations. It is highly career-enhancing and career-promoting, especially with a WhatsApp community and free life-long mentorship after the end of Masterclass.
Michael has come across to be one passionate and enthusiastic in teaching. Before the mandatory work from home measures implemented by the government, he would check with all his students to ensure that they know how to use the video software and preparing additional notes so as to make the online lessons easier to follow. He is also able to share his many years of work experience with us during the class and online to make it more interesting and relevant.
Ng Nyuk Khuen
New Creation Church
Michael is an excellent trainer who is skilful at making complex and dense topics in accounting & finance lively and interesting, drawing out application to real world business needs. He also has the insights and responsibility to acquaint student with using teleconference tool ZOOM, way before the escalation of COVID19 spread to ensure that in trying times student continue to be able to learn without disruption.
With the “circuit breaker” enforced, the home learning experience via ZOOM was great, with good rapport and Michael’s patience and effort to continuously check on participants to ensure topics are well understood.
I thoroughly enjoy Michael’s lessons and learnt a lot, whether in person or remotely.
Chong Pang Yan
Regional Finance Leader (APAC)
MoneyGram International Inc
TFMM Run 13
I find Michael’s class very practical and interesting. He always shares his personal experience when discussing the topics. This makes the dry topics come to life and I feel it makes it easier to comprehend. Some topics covered are useful in my current role and as for the rest, they will definitely come in handy in the future. Michael shares so much knowledge and insights, so much so I feel it would be a loss if someone gives this Masterclass a miss. I would recommend this Masterclass for all finance professionals with aspirations.
– Finance Controller, Turck Banner Singapore Pte Ltd
Michael is a master of mentors. Lessons were well thought through where his efforts in synthesizing complex concepts were clearly felt. Personally, I enjoyed his unreserved sharing of his perspective as CFO. Michael’s lessons are insightful, and they have benefited me tremendously!
– Finance Analyst, Dnata Singapore
Being part of the professional in Accounting and Finance, continuous learning is crucial to be sustainable in the practice. As such, the Finance Managers Masterclass is a very good short course to brainstorm all the topics learnt especially, the importance of analyzing key financial ratios of an entity for better control and as risk indicators. Michael is a very experienced and knowledgeable trainer with lots of practice experiences. It’s great for his generosity to share his past experiences that are very useful in our work. I found that the topics “Financial Limits to Growth” and “Investment Appraisal” extremely useful. Personally, I really enjoyed the course and certainly learned a great deal. It is definitely a recommended Masterclass to anyone who is in this profession.
– Regional Controller, Essilor Amera Pte Ltd
The Finance Managers’ Masterclass helps to unveil another aspect of a finance manager’s role. Often, we are too bogged down with the day-to-day activities that the big picture goes unnoticed. This Masterclass will help to piece the puzzle together for an aspiring-to-be or an incumbent finance manager. Michael’s delivery on each topic is lively and engaging, often, sharing with us his past work experience when emphasising on the key learning points. This Masterclass is highly recommended.
– Finance Manager, Fragrance Realty Pte Ltd
The Finance Managers’ Masterclass consists of a very well-thought out and comprehensive curriculum that covers a wide spectrum of accounting and finance related topics from a practical perspective. It was delivered in an interesting manner by an experienced facilitator who was able to give insightful examples and making sometimes complex concepts easy to understand and remember. I particularly like the way how the conceptual framework of accounting was delivered as well as the cash flow analysis module which provided new perspectives on how to interpret financial statements. I would recommend this to both finance managers seeking to deepen their skills sets as well as non-finance business owners or professionals who need to have a good grasp of finance.
– CEO, Singapore Productivity Centre Pte Ltd
Michael shares his wealth of experience and expertise in topics critical to an Accountant’s learning journey. One of the topics that is most beneficial to me is financial modelling. He also gives notes and excel files to help us understand the practical side of the topics. Michael conducts his classes in an interesting and relaxed manner, which makes learning easier and fun. I strongly recommend Accountants and Finance Managers to attend this Finance Managers’ Masterclass!
– Account Director, Ethos Accounting LLP
Michael is a very experienced and knowledgeable trainer with a breadth of practical experience. In particular, I have found the “Financial limits to Growth” module extremely useful. He has also made lessons very interesting in an otherwise normally dry topic (i.e. accounting) and I would strongly recommend the course to candidates involved in the areas of credit risk management or corporate banking as the reinforcement of accounting and finance concepts is very useful.
– Conglomerates & Asian Corporate Institutional Banking Group, DBS Group
Michael’s classes/sessions are intense and candid. His teaching method allows me to easily understand the fundamentals of accounting and finance. Michael’s meticulous crafting of the content materials and delivery of the sessions is a testament of his dedication to adding value to the accounting & finance professionals. He inspires us to work hard and be a lifelong learner. The lessons learnt are applicable in our work life.
If you are looking to move to the next level of your career, Michael is a great teacher to have. If you follow his lead you can do great things to impress your bosses, but you must be willing to jump in head first. He is always there as a mentor to advise and guide.
I would recommend to anyone serious about upgrading or refreshing their accounting and finance knowledge and skills by enrolling in his Masterclasses.
Thank you for the experience sharing.
– Finance Manager, Varcass Pte Ltd
05 Feb, by Michael M Lee
Traditional accounting embraces the entity concept, which is good for explaining debits & credits, and what the entity owns and owes. But as businesses evolve, sustainability of cash and cashflows becomes vital, while the emphasis on entity and its going concern assumption remains important. Without cash and cashflows there is no entity, let alone going concern! Most companies painfully experience this situation during the current world-wide pandemic! Cash is the most vital economic resource for an entity‘s survival and so my proposed new concept and approach is called “The Economic Resources Approach to Accounting” (ERAA), shifting the focus from Entity to Economic Resources. The business owner, the Board and Management’s main interest is on how the economic resources of the company are acquired, allocated/deployed, profitably utilised, and redeployed. The current set of financial statements do not reflect this economic cycle clearly. For centuries, Accounting has been entrapped by the Entity focus, losing sight of the greater importance of Economic Resources. My article on ERAA (as attached) highlights this issue and proposes solutions. Professional awakening, recognition, and full awareness of this issue are necessary for a focussed action towards ERAA, internationally. Otherwise, business managers remain at best, inadequately enlightened, or at worst, consistently unenlightened in still fully embracing the Entity Approach to Accounting!
29 Jun, by Michael M Lee
Cashflow Statement – Period & Trend Analysis This is follow-on paper of my earlier paper dtd 26 April 2020 on “Cashflow Statement (CFS) – An enhanced presentation”. In this paper, which is geared towards the business leaders’ perspective, I shall discuss 1) Why a company’s sustainability of cashflow is important 2) The current CFS presentation allowing for different treatment of certain items 3) The traditional way of analysing Period CFS, and a proposal for a robust approach 4) Trend CFS analysis, leading to the determination of the company’s cashflow sustainability, and how the finance leader needs to be involved in strategic thinking process to assess whether investment activities are appropriate for maintenance or corporate growth per strategic plan. The business community needs to know that cashflow sustainability of a company is a necessary but not sufficient condition for the company’s overall financial health. The company also needs to grow its operating resources to further validate its going concern assumption.
26 Apr, by Michael M Lee
The Cashflow Statement is the most important period statement as it depicts the cashflow health of the company. In its current presentation format, it may not be as useful as it should be, especially for non-accounting trained users who may be Board directors, Senior Management, shareholders or investors. These business readers/users are interested to know:. a) Why P&L Profit after tax (PAT)is not all cash?, b) What is the fully cash PAT?, c) What cause an adverse Cashflow Gap between P&L PAT and fully cash PAT and how can it be fixed?, d) Is the company’s going concern assumption threatened as a consequence of a huge negative Cashflow Gap? Unfortunately, the current presentation format does not highlight these areas simply because the focus is not on the PAT Cashflow Gap!