Accounting and Finance Policies and Procedures

Why Attend

Rationale
Accounting and finance policies and procedures are the most efficient way to implement company-wide effective internal control tools in any organization. They are part of every business cycle: purchase and payment cycle, inventory and production, HR and payroll, fixed assets and capitalization of costs, and the sales and collection cycle. On top of that, accounting and finance policies and procedures are essential for the board of directors and senior management to communicate limitations and authorities given to different managers and employees throughout the organization. Moreover, their use is also extended to organize financial reporting and compliance with regulators outside the organization.

In this course participants will be encouraged to think of risk-based processes to write and implement operational policies and procedures. They will learn to allocate tasks to different personnel based on proper segregation of duties and to use software to implement the controls efficiently. Also, the course covers sample financial statements prepared according to the International Financial Reporting System (IFRS).

Event Date: 25/04/2024 – 27/04/2024

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More Dates

01/08/2024 – 03/08/2024	Price: $ 195.53
01/08/2024 – 03/08/2024	Price: $ 195.53
05/09/2024 – 07/09/2024	Price: $ 195.53
05/09/2024 – 07/09/2024	Price: $ 195.53

Overview
Course Outline

Course Outline

Designing accounting and finance manual
- Manual purpose and organization
- Financial authorities and responsibilities
- Process mapping chart: basic Icons
Accounting department setup
- Planning for proper reporting
- Planning for Human Resources Versus Software – HRVSS
Accounting concepts and their application
- Underlying accounting assumptions
- Accrual basis versus cash basis
- Going concern assumption
- System and reliability of measurement
- Concepts of assets, liabilities, income and expense
Chart of accounts
- Setting-up a chart of accounts
- Accounts and cost centers
- System structure
- Exchange rate differences
- Prepaid and accrual concepts and treatments
Long term assets
- Assets capitalization costs
- Depreciation, amortization and depletion
- Impairment of assets
- Disposal of assets
Liabilities
- Approving suppliers for purchases
- Receiving invoices and inventory
- Accruals
- Dividends payable
- Payment orders processing
Production and inventory processing
- Recording of production costs
- Inter-department transfers of material
- Issuing finished goods
Accounts receivables policies
- Approving clients
- Bank or other guarantees
- Recording invoices
- Collections
- Allowance for doubtful debts
Other accounting policies
- Debit and credit notes
- Payroll recording and reporting
Reporting
- Essential budgeting policies
- Financial statements process
- Financial analysis