Training Course Purposes of Bookkeeping as well as Money

• Determine the primary components of a vision for financing as well as accountancy
• Assess as well as enhance accounts payable procedure
• Provide the key ideal techniques in receivables, inventory, and also money monitoring
• Examine the budgeting process in their organizations and recommend renovations
• Apply MS Excel coverage as well as evaluation techniques for faster audit and also financing procedures
• Establish an improved understanding of the behavioral principles related to the daily financing and audit procedures

Day 1
The importance of best practices

• Effectiveness versus efficiency

• Functions of management

• Finance and accounting vision and mission

• Customer service survey

• Purposes and processes of finance and accounting

The accounting cycle and financial statements

• The accounting processing cycle

• Overview of key financial statements

• Income Statement

• Balance sheet

• Cash flow

Day 2
Applying best practices in Accounts Payable (AP)

• Accounts payable life-cycle

• AP common inefficiencies - areas for improvement

• Centralized versus decentralized AP

• AP/supplier portal

• Electronic expense reporting

• Online purchasing catalogue

• Document management system

 Applying best practices in Accounts Receivable (AR), inventory, and Cash

• AR Life cycle

• Accounting for the allowance for doubtful accounts

• Four dimensions in managing AR

• Credit policy

• Billing

• Collection

• AR segmentation

Day 3
Inventory

• Inventy life-cycle

• Costing methods

• Valuation and presentation of inventory

• Best practices in inventory management

• Best practices in cash management

Best practices in fixed assets and budgeting

• Fixed assets life-cycle

• Capitalizing versus expensing

• Tracking fixed assets

• Budgeting approaches

• Tips in creating efficiencies in the budgeting process

Day 4
Reporting best practices using MS Excel

• Consolidating your data

• Validating data for accuracy

• Using pivot tables

• Preparing periodic reports in no time

• Performing efficient and accurate reconciliation

• Bank statement reconciliation

• Payroll reporting and analysis

• Accounts payable reporting and analysis

• General ledger reporting, reconciliation, and analysis

• Budgeting reporting and analysis

• Invoice analysis and reporting

• Enhancing policies and procedures manuals

Day 5
Essential behavioral concepts for enhancing Finance and Accounting (F&A) operations

• The new set of skills for F&A

• Clean desk policy

• Peak performance time

• Successful meetings

• Communication skills

• Reviewing and authorization matrix

• Cross-training and back up strategies