Overview / Why Attend

Accounting and finance policies and procedures are among the most efficient ways to implement company-wide internal controls across purchase and payment, inventory and production, HR and payroll, fixed assets, and sales and collection cycles. The course also addresses authorities, risk-based processes, segregation of duties, software-enabled controls, and financial reporting under IFRS.

Course Objectives

• Design and produce the Accounting Manual.
• Apply accounting concepts properly.
• Allocate costs to assets or expenses.
• Record liabilities and equity accounts.
• Assist in preparing financial reports.

Target Audience

Professionals in accounting and finance.

Course Outline

Designing Accounting and Finance Manual

• Accounting Manual purpose
• Financial Authorities and Responsibilities
• Accounting Manual Organization
• Process Mapping Chart Icons
• Planning for financial reporting
• Chart of Accounts

Accounting Principles Application

• Accounting Principles
• Underlying Accounting Assumptions
• System and reliability of measurement
• Concept of Assets
• Concepts of Liabilities
• Concepts of Income
• Concepts of Expense

Assets

• Cash and Equivalents
• Accounts Receivable and Collections
• Production and Inventory Processing
• Long Term Assets
  • Capitalization and utilization
  • Impairment of assets
  • Disposal of assets

Liabilities and Equity

• Accounts Payable
• Accruals
• Payroll
• Long Term debt
• Equity Accounts

Reporting

• Accounting adjustments
• Credit and debit notes
• Budgeting
• Financial statements
• Financial analysis