Financial Accounting Professional Certificate

Created by LEC Team
Last updated Mon, 27-Mar-2023
Download as pdf

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


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